U.K. Stocks Decline From Five-Month High Amid Greek Debt ConcernRoxana Zega
U.K. stocks fell from a five-month high, led by utilities, on concern Greece won’t reach a debt agreement.
Centrica Plc and SSE Plc declined at least 2 percent as utilities shares posted the biggest losses in the Stoxx Europe 600 Index. SABMiller rose 1.9 percent as a report said a group led by 3G Capital Inc. is considering a bid for the brewer.
The FTSE 100 Index slipped 0.2 percent to 6,857.05 at the close in London, amid concern Greece’s finance minister will struggle to reach an accord with euro-area counterparts at a meeting today. Weekend discussions between the debt-ridden nation and its creditors didn’t make enough progress, Germany’s finance minister said on Deutschlandradio.
The broader FTSE All-Share Index also lost 0.2 percent, while Ireland’s ISEQ Index slipped 0.5 percent. The FTSE 100 advanced 1.5 percent last week to the highest level since September as Germany’s economy accelerated more than forecast.
Bank of England policy makers Ben Broadbent and Martin Weale indicated in a Sky News interview that further stimulus isn’t the most likely scenario for the U.K. as they said a weakness in consumer prices will be temporary. Data on Tuesday is forecast to show inflation slowed to 0.4 percent in January, the lowest since records began in 1989.