UK stocks : FTSE 100 adds 0.2 pct
Agencies: London, Nov 21 2012, 04:53 IST
middle of August and the middle of November.Among sectoral fallers, financials, which includes banks, insurers and brokerages, were the biggest drag, having outperformed during last week's falls."In the five days last week where the markets fell three or four percent, the banks were one of the top performers," Xanders said."In the last five days before today, banks were up two percent, and the market was down 50 basis points, so you're looking at a 2.5 percent outperformance, and I think people are just unwinding that."The most heavily traded stock on the index was Intercontinental Hotels, trading at 332 percent of its average 90-day volume and adding 2.7 percent following a Barclays upgrade of the hotelier to "overweight" from "equal weight".Barclays said in a note it expected Intercontinental to sell some $800 million in assets, with proceeds earmarked for returns to shareholders in 2013.
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