UK stocks : FTSE 100 drops 1.1 pct

Feb 08 2013, 02:27 IST
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The FTSE 100 closed down 66.92 points at 6,228.42, lagging major European peers. (Reuters) The FTSE 100 closed down 66.92 points at 6,228.42, lagging major European peers. (Reuters)
SummaryThe FTSE 100 closed down 66.92 points at 6,228.42, lagging major European peers.

hit by changing operating realities was Burberry Group, which was the worst-performing blue-chip stock, tumbling 4.6 percent.

Rival luxury goods companies also fell as traders cited a Chinese advertising ban on certain expensive gift items as hurting the sector, undermining the assumption that strong demand from rich emerging market consumers could help support sales.

However, mobile phone operator and market heavyweight Vodafone provided basic support to the market. It rose 0.9 percent, bolstering the FTSE 100 index by 3 points alone, after the group maintained its outlook for the year and analysts expected the firm to dodge earnings forecast cuts, despite weak third-quarter sales.

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