Bloomberg News

U.K. Stocks Drop Before Euro-Area Meeting

July 09, 2012

U.K. stocks declined for a second day before a meeting of euro-area finance ministers to discuss the region’s debt crisis and amid concern that China may be entering a phase of deflation.

The FTSE 100 Index (UKX) lost 21.76 points, or 0.4 percent, to 5,640.87 at 8:57 a.m. in London. The gauge gained 1.6 percent last week as the Bank of England expanded its bond-buying program and surveys of manufacturing in economies from China to the euro area beat economists’ estimates. The broader FTSE All- Share Index fell 0.5 percent today, while Ireland’s ISEQ Index slipped 0.7 percent.

To contact the reporter on this story: Tom Stoukas in Athens at astoukas@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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