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UK Market Update Archive: 
Smith Nephew Led FTSE Stocks Decline
May 01, 4:40 PM EDT
UK stocks closed unchaged. ISM survey of the UK economy indicated that economy failed to grow in April and rising for 78 months in a row.
The Bank of England in its report on financial stability said that the current re-pricing in the credit markets is taking longer than anticipated. But, added that prices of securities are likely to rebound from the current low in levels in months ahead. FTSE 100 index close unchanged on a weakness in energy and mining and metals related stocks. Smith & Nephew led decliners in the FTSE 100 shares with a drop of 13% followed by losses in Eurasian Natural of 3%, in Home Retail Group of 2.8%.
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