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| UK Market Update Archive: |
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Iberia, BA Explore Merger, Banks Fall
Jul 29, 4:02 PM ET |
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| Stocks in London edged lower as banks and financial lenders continue to slide. British Air and Iberia explore merger. |
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| UK home loans and mortgage loans fell to an eight-year low in June and below last six month average. Tight credit market conditions played a key role in the weak lending. UK retail sales in July fell and further weakness is expected in August according to a trade report. In London trading banks continued to decline and British Air entered in merger talks with Iberia of Spain. Vedanta Resources first quarter profit rose 6.3% on higher iron ore output. |
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