U.K. Stocks Decline Second Day, With BT, Vodafone Leading Losses

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U.K. stocks fell for a second day, paring a weekly gain, as telecommunications companies retreated.

BT Group Plc and Vodafone Plc contributed the most to losses on the FTSE 100 Index, sliding at least 1.4 percent, as their European peers retreated after Telenor ASA and TeliaSonera AB scrapped merger plans. Glencore Plc rose 0.7 percent, extending its biggest weekly gain since February 2012 after Monday’s announcement of a debt-reduction plan.

The FTSE 100 slipped 0.6 percent to 6,117.76 at the close of trading in London. Stocks fell for the first time in four days on Thursday amid doubts that the global economy is strong enough to withstand a Federal Reserve rate hike. The equity benchmark posted a 1.2 percent weekly gain.

The broader FTSE All-Share Index dropped 0.4 percent today and Ireland’s ISEQ Index retreated 0.7 percent. A volatility gauge for U.K. stocks reversed an earlier advance, falling 2.7 percent.