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| UK Market Update Archive: |
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UK Stock Fall 2.6%, Weak Home Prices
Jul 01, 7:09 PM EDT |
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| Weakness in banks and financials dragged market indexes lower in UK. Home prices in June fell, but at a lower rate in May. |
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| The stocks in UK fell sharply after home prices fell 0.9% in June and home sales remained weak across the country. The weakness in the U.S. trading at the UK close also contributed to the weak sentiment in London trading. Record crude oil prices, rising inflation fears and worries related to further write downs at UK banks dragged market indexes lower. Barclays shed 3.4%, Royal Bank of Scotland declined 5% and Standard Chartered fell 2%. |
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