U.K. Stocks Little Changed on Low Volume During Budget Speechby
Britain’s shares were little changed as U.K. Chancellor of the Exchequer George Osborne delivered his 2016 budget.
The FTSE 100 Index added 0.1 percent at 1:18 p.m. in London, paring gains of as much as 0.5 percent. The volume of FTSE 100 shares changing hands was 27 percent lower than the 30-day average. Oil equipment and services companies extended gains after Osborne announced cuts in charges to that industry. BP Plc and Ashtead Group Plc were the biggest gainers in the FTSE 100, up more than 2 percent.
Moneysupermarket.com Group Plc lost 4.5 percent as its founder sold shares. Smiths Group Plc fell 4.6 percent after reporting a decline in operating profit in the first half.
The FTSE All-Share Index added 0.1 percent, while Ireland’s ISEQ Index slipped 0.9 percent.