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U.K. Stocks Trail Peers

Britain’s equity benchmark had a dismal January compared with other major European markets

The start of 2018 brought gains to most European stock benchmarks, with one notable exception. The U.K.’s exporter-heavy FTSE 100 Index declined in January, weighed down by a pound that strengthened more than 5 percent against the dollar in the period. While a selloff in equity markets this week trimmed gains across the board, it exacerbated woes for the FTSE 100 ahead of a Bank of England rate decision on Feb. 8.

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