Bloomberg News

U.K. Stocks Erase Gains; Inmarsat, Astrazeneca, Man Group Fall

June 27, 2011

June 27 (Bloomberg) -- U.K. stocks erased gains before Greek lawmakers meet to debate austerity measures that the European Union has made a condition of providing further aid to the indebted country.

Inmarsat Plc dropped 1.4 percent as Citigroup Inc. downgraded its recommendation on the shares. AstraZeneca Plc retreated 1.3 percent as the company and Bristol-Myers Squibb Co. said patients taking their experimental diabetes pill had more breast and bladder cancers than people using a standard drug.

The benchmark FTSE 100 Index declined 0.1 percent to 5,693.69 at 9:02 a.m. in London. The FTSE All-Share Index also dropped 0.1 percent, while Ireland’s ISEQ Index climbed 0.1 percent.

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


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