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UK Market Update : 
UK Confidence Drops and Auto Production Rises 5.8%
Author: Arthi Gupta
123jump.com
Last Update: 10:48 AM ET January 19 2012

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The UK indexes climbed ahead of earnings in financial sector and consumer confidence fell and Irish inflation eased in December. The UK auto production rose 5.8% in 2011. Lloyds is expected to cut 700 jobs in the UK.

 
Lloyds Banking Group Plc soared 6.2% to 31.43 pence after the financial services group plans to cut 700 jobs in the UK as part of a plan to reduce employee numbers by 15,000, Bloomberg said citing an e-mailed statement from the company.

SABMiller Plc fell 0.4% to 2,286 pence after the brewer said revenues for the third quarter ended December 31 increased 7% on an organic and constant currency basis.

Lager volumes for the quarter were 3% ahead of last year, with growth in all markets except Europe and North America.




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