UK stocks fell again in early trading, led by losses by Hilton Group and British Airways. The...
UK stocks fell again in early trading, led by losses by Hilton Group and British Airways.
The benchmark FTSE 100 Index dropped 27.3 points or 0.71% to 3841.5 and the FTSE All-Share Index fell 12.45 points or 0.67%, to 1838.66 within the first hour.
Europe's biggest airline, British Airways, dropped 4.24p, or 3.5% to 116.75p after Deutsche Lufthansa announced it had an higher loss in the first quarter than anticipated.
Owner of the Hilton hotel chain outside the US, Hilton Group, also fell with 3.5p or 2.3% to 148.5.
Following yesterday's gain, Britain's biggest insurer, Aviva, lost 3.5p or 0.9% to 385p after S&P cut Aviva's credit-rating, on concern that the third straight year of tumbling stocks has made a hole the firm's capital.
Britain's biggest specialty chemical maker, ICI, rose 5.75p or 5.5% to 110p after it was announced that chief executive officer Brendan O'Neill has resigned.
In Asia, stocks fell as concern mounted reports will show a slowdown in demand in the US, the largest importer of Asian products.
Hong Kong's Hang Seng dropped 1.9% to 8637.55 and Japan's Nikkei 225 Stock Average lost 0.9% to 8057.61 at closing time.
Across the Atlantic, overnight trading also looked bleak as US stocks ended the day with losses.
Wall Street's Dow Jones Industrial Average fell 1.49 points, or 0.02%, to 8298.92 at close yesterday and Nasdaq's Composite index dropped 6.57 points or 0.47%, to 1382.94. Meanwhile, the S&P 500 also fell 1.64 points or 0.19% to 878.29.
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