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FTSE 100 Declines As Budget Deficit Widens
(RTTNews) - U.K. stocks were slightly lower on Thursday after data showed Britain's budget deficit widened in the financial year to November to the second highest level on record, giving little fiscal headroom for the government to cut tax rates.
In the financial year to November, government borrowing increased by GBP 24.4 billion from the same period last year to GBP 116.4 billion. This was the second highest financial year-to-November borrowing on record.
The benchmark FTSE 100 was down 10 points, or 0.1 percent, at 7,705 after rallying 1 percent the previous day.
HICL Infrastructure rose half a percent. The investor in infrastructure assets announced that it has agreed to acquire a further 3.1 percent stake in the A63 Motorway concession in France for about 20 million pounds from a co-shareholder.
Artemis Alpha Trust plunged 5.5 percent as it reported loss before tax of 11.40 million pounds for the first half.
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