U.K. Stocks Decline as Miners Resume Slump; RBS Falls on Chargesby
U.K. stocks fell, led by mining shares that yesterday were the lead gainers in the FTSE 100 Index.
Royal Bank of Scotland Group Plc retreated 2.6 percent after saying it will take a 3.6 billion pound ($5.2 billion) hit to the value of its assets and and set aside more money for past misconduct. Measures to plug a pension deficit will hurt the tangible net asset value in the fourth quarter, RBS said. Lloyds Banking Group Plc and Barclays Plc also declined.
Anglo American Plc, Antofagasta Plc, Rio Tinto Group and BHP Billiton Ltd. fell at least 1.5 percent. Sage Group Plc jumped 4.9 percent after reiterating a positive full-year outlook.
The FTSE 100 Index fell 0.4 percent to 5890.44 in London. The benchmark is heading for its worst January since 2009, as the rout in oil and China’s slowdown have weighed on risk assets this year. It entered a bear market last week.
The broader FTSE All-Share Index and Ireland’s ISEQ Index also retreated at least 0.3 percent today.