U.K. Stocks Fall Second Day as Construction-Related Shares Slideby
U.K. stocks declined for a second day as construction-related companies tumbled amid persistent concern over global growth prospects.
Wolseley Plc led the drop, falling 13 percent, the most in more than six years, after it forecast North American industrial markets will be challenging, and the U.K. heating industry will remain competitive. CRH Plc slid 3.4 percent, Persimmon Plc. dropped 5.2 percent and Taylor Wimpey Plc lost 5.1 percent.
Glencore Plc rallied 17 percent after the commodities group that’s lost 73 percent of its market value this year said it can withstand current market conditions.
The FTSE 100 Index slipped 0.6 percent to 5,922.73 at the close of trading in London. Shares tumbled on Monday as data showed Chinese industrial profits in August slid the most in four years. The broader FTSE All-Share Index dropped 0.7 percent today, while Ireland’s ISEQ Index fell 2.6 percent.