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FTSE 100 Drifts Lower On Economic Worries
(RTTNews) - U.K. stocks fell on Tuesday and the British pound hit another two-year low on economic worries after data showed retail sales decreased for the third consecutive month in June.
Like-for-like sales decreased 1.3 percent on a yearly basis in June while overall sales were down 1.0 percent, data compiled by the British Retail Consortium and the advisory services firm KPMG showed.
The benchmark FTSE 100 slipped 11 points, or 0.2 percent, to 7,185 after ending on a flat note Monday.
Banks Lloyds Group and HSBC Holdings were down around 1 percent each.
Miners Anglo American, Antofagasta and Glencore fell 1-2 percent.
Women's fashion retailer Sosandar jumped 4.5 percent after reporting an improved annual outturn.
United Utilities rose 1.4 percent after it agreed to sell its non-appointed renewable energy business, United Utilities Renewable Energy Ltd. to SDCL Energy Efficiency Income Trust plc for about £100 million enterprise value.
Balfour Beatty added half a percent. The infrastructure group announced the sale of its 67 percent interest in Aspire at Discovery Park, the on-campus student accommodation at Purdue University in West Lafayette, Indiana.
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