Baqar HussainU.K. stocks fell for the first time in four days, following European shares lower, amid renewed concern the Federal Reserve will raise rates this month.
Losses in grocers also dragged the FTSE 100 Index lower today. Wm Morrison Supermarkets Plc slid 4.5 percent after its earnings that fell more than estimated. Tesco Plc and J Sainsbury Plc lost 1.4 percent or more after Morrison said it will keep cutting prices. Dixons Carphone Plc and Next Plc gained at least 1.8 percent after their results beat projections.
The FTSE 100 dropped 0.6 percent at 9:13 a.m. in London, paring a slide of as much as 1.1 percent. The gauge rebounded 3.1 percent in the past three days after tumbling last week amid concern over a China slowdown and an impending Federal Reserve rate increase. The broader FTSE All-Share Index also declined 0.6 percent today and Ireland’s ISEQ Index retreated 0.2 percent.
Syed Zaki Hussain
