By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks were on track for third
losing day, moving in line with markets worldwide that keyed off
Wall Street's slide in the previous session.
The FTSE 100 index fell 0.5% to 6,750.03, falling alongside the
broader European market as tracked by the Stoxx Europe 600 .
Benchmarks across Asia also closed lower overnight "as traders
take cash off the table amid growing unease with the violence in
Iraq," said ETX Capital on Wednesday, noting reports on Tuesday
that at least 50 people were killed after Syrian warplanes hit
targets in western Iraq.
"This rattled sentiment across global markets overnight, driving
up oil prices," ETX Capital added. Prices for West Texas
Intermediate crude extended gains on Wednesday, trading above $106
a barrel, while Brent crude took a breather below $114 a
barrel.
Oil shares in London climbed on Tuesday, but pulled back with
Brent crude on Wednesday. BP PLC (BP) lost 1%, Royal Dutch Shell
declined 0.7% and BG Group PLC moved 0.4% lower.
But Shire PLC topped the FTSE 100 with a 1.8% advance after U.S.
rival AbbVie Inc. (ABBV) said its proposed bid for Shire has a
"compelling strategic rationale," and offers significant value to
shareholders of both companies. Shire had rejected a $46 billion
offer from AbbVie last week, saying it undervalued the company.
More must-reads from MarketWatch:
British payday lender slapped with fine in fake law-firm
scheme
Draghi's monetary blitz has failed to lift euro zone
Has the beginning of the end of the bull market begun?
Subscribe to WSJ: http://online.wsj.com?mod=djnwires