U.K. Stocks Fall for Fourth Day; Wolseley, Anglo American Sinkby
U.K. stocks retreated as slumping shares of Wolseley Plc and Anglo American Plc weighed on the FTSE 100 Index.
Wolseley slumped 4.7 percent after Dublin-based securities firm Davy said first-quarter results confirmed a meaningful slowdown in the business. Anglo American slid 4.3 percent, tracking shares of European commodity stocks lower.
Vodafone Group Plc rose after reporting service revenue that rose more than analysts projected. Experian Plc added 5.6 percent after Goldman Sachs Inc. said the company’s results were better than expected. National Grid Plc added 2.1 percent after the U.K. company said it started a process to sell a majority stake in its domestic gas grid.
The FTSE 100 Index lost 0.4 percent to 6,271.18 at 10:06 a.m. in London. U.K.’s benchmark gauge fell yesterday and at the end of last week amid speculation about the Federal Reserve’s rate outlook that has whipsawed global markets. Last month, the benchmark posted its biggest monthly rally since 2013.
The broader FTSE All-Share Index lost 0.4 percent today, while Ireland’s ISEQ Index fell 0.6 percent.