U.K. Stocks Decline Most in 3 Weeks as Pearson, Oil Shares SlideBy
U.K. stocks fell for the fourth time in five days, led lower by Pearson Plc and energy producers.
Royal Dutch Shell Plc and BP Plc dropped at least 1.2 percent, among the biggest contributors to losses in the FTSE 100 Index. Pearson slid 8.4 percent after the world’s largest education company reported a decline in nine-month sales amid a slowdown in the key U.S. market for textbooks. Barratt Developments Plc and Persimmon Plc fell at least 2.5 percent, dragging homebuilders lower.
The FTSE 100 Index declined 0.9 percent at the close in London. It rebounded on Friday amid gains in banks, trimming a weekly drop. The benchmark reached an intraday record on Oct. 11, before losing momentum. The FTSE 250 Index of mid-cap shares also fell today, down 1 percent.
Among other shares active on corporate news, Standard Chartered Plc rose 1 percent on speculation Essar Group will repay loans from the lender after agreeing to sell its refinery unit for about $13 billion.