U.K. Stocks Decline for a Third Day as HSBC, Lloyds DropJonathan Morgan
U.K. stocks declined for a third day, the longest losing streak in three weeks, as a drop in bank shares outweighed an advance in mining companies.
HSBC Holdings Plc and Lloyds Banking Group Plc fell at least 1.7 percent. Ashtead Group Plc, an equipment rental company that earns most of its revenue from North America, slid 7.5 percent after Evercore ISI warned of contagion for its U.S. peers from dropping commodity and energy prices. Rio Tinto Group and Anglo American Plc climbed more than 2 percent.
The FTSE 100 Index fell 50.65 points, or 0.8 percent, to 6,366.51 at the close in London. The benchmark gauge earlier gained as much as 0.6 percent and lost as much as 1.4 percent. The volume of FTSE 100 shares changing hands was 44 percent higher than the 30-day average, data compiled by Bloomberg show.
The broader FTSE All-Share Index dropped 0.8 percent, and Ireland’s ISEQ Index slipped 1.3 percent.