U.K. Stocks Decline for Third Day as Energy Companies Plungeby
U.K. stocks reversed an earlier rally, ending the day lower as energy and commodity producers fell with oil and metals.
Royal Dutch Shell Plc Class B shares lost 4.6 percent, BG Group Plc slid 4.1 percent and BHP Billiton Ltd. declined 2.9 percent. Airlines advanced, with EasyJet Plc, IAG SA and Ryanair Holdings Plc up more than 1.7 percent.
The FTSE 100 Index declined 0.2 percent at the close of trading in London, erasing a gain of as much as 0.8 percent. It extended its lowest level since Nov. 16 after losing 2.2 percent last week. The number of shares changing hands was 20 percent lower than the 30-day average on Monday.
Tesco Plc dropped for a fourth day, closing at its lowest price since 2000. Serco Group Plc tumbled 4.4 percent after giving a 2016 revenue forecast that was lower than what analysts had estimated. Kingfisher Plc dropped 2.4 percent after Nomura Holdings Inc. recommended selling the stock.
Man Group Plc rose 2.7 percent as Citigroup Inc. recommended buying the stock. Home Retail Group Plc climbed 3.8 percent after a report that France’s Leroy Merlin is considering a bid for Homebase.
The broader FTSE All-Share Index dropped 0.2 percent, while Ireland’s ISEQ Index increased 1.4 percent.