By Sara Sjolin, MarketWatch
U.K.'s index loss wipes out July's gain
Index slips 0.6% to 6,730.11, erasing monthly gain
LONDON (MarketWatch) -- Most U.K. stocks closed in negative
territory on Thursday, but a solid performance from Royal Dutch
Shell PLC curbed the FTSE 100's losses.
The FTSE 100 index dropped 0.6% to close at 6,730.11, wiping out
the gain for July and giving it a 0.2% loss for the month.
Shell (RDSB) put on 2.7% after the oil major said its
second-quarter profit more than doubled as it benefited from higher
liquid-petroleum prices and higher prices for specific
products.
More broadly, the majority of U.K. stocks declined, tracking a
downbeat sentiment in the rest of Europe and in U.S. stocks.
Additionally, a survey from British lender Nationwide showed house
prices in the country in July rose at the slowest pace since April
last year.
Among falling stocks in London, shares of Weir Group PLC lost
3.8% after the engineering company reported a 4.8% fall in pretax
profit due to the strength of the pound.
Lloyds Banking Group PLC (LYG) fell 2.8% after the U.K. lender
said profit fell sharply in the first half of the year due to a
number of legacy charges.
Schroders PLC dropped 4.4% after the global asset-management
company said the short-term outlook for retail investor demand is
uncertain.
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