U.K. Stocks Halt Rally After 4-Day Gain; ITV Falls After Resultsby
Darty jumps on Steinhoff International's unsolicited bid
Amec Foster Wheeler up after arranging new debt facility
U.K. stocks were little changed, after climbing to their highest level this year.
The FTSE 100 Index lost less than 0.1 percent at the close in London. It earlier fell as much as 0.9 percent, wiping out an earlier advance of 0.7 percent. Reckitt Benckiser Group Plc, GlaxoSmithKline Plc and Unilever slid at least 1.3 percent, the biggest drags on the benchmark.
The FTSE 100 snapped a four-day rally that added 4.9 percent to the benchmark, trimming its 2016 losses. The broader FTSE All-Share Index also gave up gains, down 0.1 percent, while Ireland’s ISEQ Index added 0.3 percent.
Among stocks active on corporate news, ITV Plc dropped 3.5 percent after saying it expects net advertising revenue to be flat in the first quarter. Darty Plc jumped 12 percent after Steinhoff International Holdings NV Group made an unsolicited bid for the electronics retailer. Amec Foster Wheeler Plc rallied 9.8 percent after arranging for a new debt facility.