Miners, Banks Send U.K. Shares Lower for First Time in Five Daysby
A retreat in commodity producers and lenders dragged U.K. shares down after their longest streak of gains since December.
The FTSE 100 Index lost 1 percent at the close of trading in London, the most in a week. Anglo American Plc and Rio Tinto Group fell more than 3 percent after a surge on Wednesday took a gauge of U.K. miners to its highest level since November. Barclays Plc and Standard Chartered Plc declined at least 3.8 percent.
Among other stocks moving, BAE Systems Plc added 1.1 percent after forecasting an increase in profit this year. Centrica Plc jumped 6.9 percent after reporting earnings that beat estimates. Vodafone Group Plc slipped after saying it will raise about 2.9 billion pounds ($4.1 billion) by selling mandatory convertible bonds.
While U.K. stocks have dropped 4.3 percent this year, that’s less than the decline in the Euro Stoxx 50 Index. Thanks to the recent rebound in miners, Britain’s equities are now the best performing ones in western Europe.