U.K. Stocks Decline, Posting Worst Weekly Slide in Two Months

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Is the British Pound Set to Go Higher?

British equities had their worst week since before the Brexit referendum, with a broad gauge of the nation’s shares halting its longest streak of weekly gains since November 2014.

The FTSE All-Share Index slid 0.1 percent on Friday, taking its drop for the week to 0.7 percent. The FTSE 100 Index of large companies slipped 0.2 percent, while the FTSE 250 Index of mid-cap stocks and the FTSE Small Cap excluding Investment Trusts were little changed.

The moves in U.K. stocks mirrored the declines in western Europe, hit by a broad-based selloff after a day of respite on Thursday. While down, the FTSE All-Share Index slid less than the Stoxx Europe 600 Index. Boosted by a weaker pound and increased Bank of England stimulus, U.K. stocks have performed better than their regional peers, becoming some of the top performers among developed markets this year.

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