U.K. Stocks Come Out of Torpor as Volatility Surges Most of Yearby
British equities fell for a third day as concern over a potential exit from the European Union rattled markets.
The FTSE 100 Index retreated 1.2 percent to a three-month low at the close of trading in London. While that’s less than major western-European measures, a gauge tracking volatility expectations for U.K. stocks posted its biggest three-day jump in six months. Even as most opinion polls show the referendum is too close to call, recent surveys have indicated a lead for the “Leave” campaign.
More than 90 of the FTSE 100 members dropped. Lloyds Banking Group Plc slid 4.2 percent after Societe Generale SA said the Brexit vote damps demand for its shares. Security services company G4S Plc tumbled 5 percent after saying the shooter in the Orlando, Florida, bar over the weekend had been an employee since 2007, though he wasn’t on duty at the time of the incident. Inmarsat Plc climbed 1 percent after signing a five-year partnership with SpeedCast International.
The broader FTSE All-Share Index and Ireland’s ISEQ Index also declined.