U.K. Stocks Head for Biggest Drop in a Month as Lloyds Declinesby
Britain’s shares fell for the first time in three days, with almost all of FTSE 100 Index companies down.
Lloyds Banking Group Plc led the decline, losing 3.6 percent after the nation’s largest mortgage lender said revenue dropped. That helped drag lower financial firms, which were the biggest decliners globally. Homebuilder Berkeley Group Holdings Plc dropped 2.9 percent after Credit Suisse Group AG lowered its rating on the stock to the equivalent of a sell.
The FTSE 100 Index slid 1.3 percent at 10:08 a.m. in London, with 90 of its members down. Volume of shares changing hands was almost 60 percent greater than the 30-day average. The gauge, which erased its annual losses earlier this month, is now back into negative territory. The broader FTSE All-Share Index and Ireland’s ISEQ Index also fell today.