U.K. Stocks Fall Fifth Day, Capping Worst Week Since August 2011Sofia Horta e Costa
U.K. stocks slid for a fifth day, as tumbling mining companies dragged the FTSE 100 Index to its worst week since August 2011.
A gauge of commodity producers dropped 2.5 percent to its lowest level since July 2009. BHP Billiton Ltd and Rio Tinto Group, the world’s largest miners, fell for a seventh day. Persimmon Plc retreated 3.4 percent, while Bellway Plc and Barratt Developments Plc slipped more than 2.3 percent as Citigroup Inc. downgraded the homebuilders. Severn Trent Plc and United Utilities Group Plc rose after the U.K. water regulator published final prices that companies can charge from 2015.
The FTSE 100 slumped 161.07 points, or 2.5 percent, to 6,300.63 at the close of trading in London, for its longest losing streak since March. The benchmark gauge has fallen 6.6 percent this week amid prospects of a snap parliamentary election in Greece, and after the Organization of Petroleum Exporting Countries forecast demand for crude in 2015 at the weakest level in 12 years.
The broader FTSE All-Share Index lost 2.4 percent today, and Ireland’s ISEQ Index dropped 1.9 percent.