Britain's Stocks Decline for Third Day as Lenders Drop Furtherby
U.K. stocks headed for their biggest three-day losses this year as lenders deepened their decline.
Barclays Plc, Standard Chartered Plc and Royal Bank of Scotland Group Plc dropped more than 3 percent each, dragging the benchmark FTSE 100 Index down 1.4 percent in London. Hargreaves Lansdown Plc lost 2.4 percent after reporting a drop in operating profit margin for the first half of the year.
The FTSE 100 has fallen 6.5 percent this year amid a deepening rout in energy and commodity producers and bank shares. The volume of shares changing hands was 32 percent greater than the 30-day average on Wednesday. The FTSE All-Share Index and Ireland’s ISEQ Index also declined, losing 1.5 percent or more.
Among stocks that rose, Anglo American Plc and Rio Tinto Group advanced more than 4 percent as commodities rebounded.