Britain's Stocks Fall to Four-Week Low as Miners, Banks Tumbleby
Declines in commodity producers and banks led a fall in U.K. stocks, which closed at their lowest levels in almost four weeks.
BHP Billiton Ltd., Glencore Plc and Anglo American Plc dropped more than 4 percent, sending the FTSE 100 Index down 1.2 percent at the close of trading in London. Standard Chartered Plc and HSBC Holdings Plc slid at least 3 percent. The broader FTSE All-Share Index and Ireland’s ISEQ Index also fell.
While the FTSE 100 has dropped 2.4 percent this year, it’s still beaten all main developed markets in Europe, thanks to gains in miners and a weaker pound.
Among stocks that rose on Tuesday, Berkeley Group Holdings Plc added 2.6 percent after the developer won a planner support for 652 homes in West London. Randgold Resources Ltd. climbed 2.1 percent as the precious metal increased.