FTSE 100 dropped 1.6% or 90.9 points to 5,752.8.
by Greg Secker on Jul.20, 2011, under Greg's Blogs
UK Report 19th July 2011
UK Market Snapshot
UK markets closed lower yesterday, with the FTSE 100 index declining for the third consecutive session, as lingering worries over Eurozone and US debt crisis dampened market sentiments. Banks, Lloyds Banking Group, Royal Bank of Scotland and Standard Chartered, dipped between 0.8% and 7.5%, as Friday’s stress tests failed to calm concerns that European banks have insufficient loss-absorbing funds. Insurers, Resolution, Prudential and RSA Insurance, also paced declines, along with a fall in equity markets. Miners, Vedanta Resources, Kazakhmys and Antofagasta, lost between 1.2% and 2.7%, tracking lower base metal prices. Oil producers, Cairn Energy, Tullow Oil and BP, declined between 0.7% and 4.1%, as crude oil prices slipped. FTSE 100 dropped 1.6% to 5,752.8. FTSE 250 fell 1.9% to 11,527.8.
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