Rodney
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Platinum Boarder
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U.K. Stocks Retreat Led by Commodity Shares - 2009/09/21 20:38
Good day, traders. U.K. stocks slid for the second time in twelve days, led by a sell-off in commodity producers and banks as metal and oil prices fell and on speculation Royal Bank of Scotland Group Plc may announce a rights offer.
The benchmark FTSE 100 Index retreated 0.8 percent to 5,130.28 at 1:04 p.m. in London, trimming some of last week’s 3.2 percent advance. The FTSE All-Share Index lost 0.8 percent, while Ireland’s ISEQ Index dropped 2.3 percent as Allied Irish Banks Plc dropped more than 6 percent.
The FTSE 100 has rallied 46 percent since March 3 as companies reported earnings that beat estimates and economic releases showed the worst of a global recession may be past.
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