Oh shit….but.
U.K. stocks erased their advance, after yesterday rallying to a three-month high, as Standard Chartered Plc (STAN) plunged the most since October 2008.
Standard Chartered tumbled 17 percent as a New York regulator warned that it may suspend the bank’s U.S. unit from doing business in the state. BP Plc (BP/) added 1.5 percent.InterContinental Hotels Group Plc (IHG) jumped 4 percent after announcing a special dividend and a share buyback.
The FTSE 100 Index lost 6.15 points, or 0.1 percent, to 5,802.62 at 9:30 a.m. in London. The gauge has still climbed 10 percent from its 2012 low on June 1 as European Central Bank President Mario Draghi pledged to preserve the euro. The broader FTSE All-Share Index also slipped 0.1 percent today, while Ireland’s ISEQ Index retreated 1.2 percent.
To contact the reporter on this story: Namitha Jagadeesh in London at[email protected]
To contact the editor responsible for this story: Andrew Rummer at [email protected]
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