Bloomberg News

U.K. Stocks Slide; Barclays, HSBC, Standard Chartered Retreat

June 22, 2011

June 22 (Bloomberg) -- U.K. stocks fell after the biggest rally for the benchmark FTSE 100 Index in two months yesterday.

Glencore International Plc paced declining shares after the company failed to sell $1 billion of shares in the so-called over-allotment option for last month’s initial public offer. Xstrata Plc led mining companies lower. Man Group Plc rallied 4.1 percent amid speculation that the hedge fund will be a bid target and as analysts recommended the stock.

The FTSE 100 slid 27.71, or 0.5 percent, to 5,747.6 at 10:56 a.m. in London, paring some of yesterday’s 1.4 percent advance.

To contact the editor responsible for this story: Will Hadfield at whadfield@bloomberg.net


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