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FTSE 100 Slips As House Prices Drop For Fourth Month
(RTTNews) - U.K. stocks declined on Monday amid global growth concerns and an uptick in global bond yields ahead of key inflation readings from China and the U.S. due this week.
Closer home, British house prices fell for a fourth straight month in July due to rising borrowing costs, data from mortgage lender Halifax showed earlier today.
The benchmark FTSE 100 was down 50 points, or 0.7 percent, at 7,514 after gaining half a percent on Friday.
Housebuilders Persimmon and Taylor Wimpey both fell around 1.4 percent, while Barratt Development was down 0.8 percent.
Declining copper prices weighed on miners, with Anglo American, Antofagasta and Glencore all falling around 2 percent.
Clarkson declined 1.4 percent after the shipping services provider warned it is seeing softening of rates in some sectors.
Recruitment specialist Page Group dropped about 1 percent after its total headcount shrank by 5 percent in the first half of the year.
Student accommodation specialist Unite Group fell more than 2 percent after a rating downgrade.
LSL Property Services plummeted 11 percent after the provider of mortgage and valuation services issued a profit warning on mortgage market woes.
Banks bucked the weak trend, with NatWest Group rising nearly 1 percent.
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