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LONDON MARKETS: U.K. Index Down Ahead Of Bernanke Comments

By Preeti Upadhyaya, MarketWatch LONDON (MarketWatch) -- U.K. stocks traded lower Tuesday as the market awaited comments from Federal Reserve Chairman Ben Bernanke and as security firm G4S PLC got hit with a downgrade following its Olympics contract failure. The FTSE 100 fell 0.4% to 5,641.32. Bernanke's much-anticipated testimony in Washington is expected to color trading in Tuesday's markets, with investors keen to hear if he will make an announcement about a possible third round of quantitative easing by the U.S. central bank. London investors also digested data on U.K. consumer prices, which fell 0.4% to 2.4% in June from May. "U.K. inflation dropped sharply in June to its lowest since November 2009, further alleviating the squeeze on incomes and helping to revive consumer spending," said Chris Williamson, chief economist for Markit, in a note. "However, the same factors that helped push inflation down may soon reverse and drive inflation higher again in coming months," he added, citing prospects for rising food and oil prices. Among individual movers, shares of G4S extended losses from Monday, falling 3.9% as it was downgraded to neutral from buy by Bank of America Merrill Lynch. The U.K.-based firm recently announced it expected to lose up to $78 million on its Olympics contract after coming up short in terms of security staff. The London games begin July 27. Also lower, plumbing firm Wolseley PLC dropped 3.4% following an announcement that it will "explore strategic options" for its businesses in France amid difficult business conditions in Europe. Shares of Rio Tinto PLC (RIO) fell 2%. The mining giant reported strong second-quarter earnings, but Chief Executive Tom Albanese cited "global economic conditions and sentiment" as reasons for being cautious moving forward. Further weighing on the index, shares of Vodafone PLC (VOD) moved down 1%. Banking heavyweight HSBC PLC dropped 0.7% following allegations of money laundering. However, Barclays PLC picked up 1.6%, as investors shrugged off continued scrutiny of the bank's involvement in the Libor rate-rigging scandal. Energy firms also were on the rise as oil prices advanced, with heavyweight BP PLC (BP) up 0.3% and AMEC PLC gaining 1.3%.

Stock News for Companhia Vale (RIO)
DateTimeHeadline
09/29/201412:51:49LONDON MARKETS: Mining Stocks Slump In London On China Worries
09/29/201404:20:33LONDON MARKETS: Mining Stocks Hurt On FTSE 100 On China Worries
09/26/201409:00:07U.S. Stock Futures Higher
09/25/201412:37:33LONDON MARKETS: FTSE 100 Slides After Carney Hints Rate Hike...
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09/24/201408:07:21LONDON MARKETS: Rio Tinto Bucks Downbeat Mood In London After...
09/24/201405:01:52EUROPE MARKETS: TNT Express Slumps; Rio Tinto Climbs: Europe's...
09/23/201404:11:13Australian Shares Recover as Chinese Helps Ease Growth Worries
09/23/201401:30:35Asian Shares Mixed, Australia Gains
09/23/201401:17:32Correction to Asian Shares Story
09/23/201401:02:08Asian Shares Mixed, Austrailia Gains -- Update
09/22/201418:39:55ADR Shares End Lower; Mechel Shares Trade Actively
09/22/201412:13:15EUROPE MARKETS: European Mining Stocks Hurt By China Growth Worries
09/22/201411:33:20Rio Tinto Raises Cost Of Oyu Tolgoi Underground Mine Expansion-Update
09/22/201411:31:16Correction to Rio Tinto Reduces Cost Of Oyu Tolgoi Expansion...
09/22/201410:12:38Rio Tinto Reduces Cost Of Oyu Tolgoi Underground Mine Expansion
09/18/201418:31:58EUROPE MARKETS: Banks Climb After TLTRO, Siemens Slips: Europe's...
09/18/201418:31:57LONDON MARKETS: FTSE 100 Rises As Scots Head To The Polls

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