UK stocks : FTSE 100 index down 0.3 pct

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SummaryBritain's top share index fell on Thursday.

return, investment bank Espirito Santo said in a note.

To us, it would suggest that the business has incurred some reputational damage with the UK Government following the London Olympic contract failure.

The only real risers in the index were those typically perceived as more defensive during times of economic uncertainty, with consumer staples gaining, led by BAT, which gained 1.3 percent.

It's not exactly a risk-on day, and it's been quite volatile. I think it's just a bit of a natural rotation, Mike van Dulken, Head of Research at Accendo Markets, said.

These guys (such as BAT) have good dividend yields. People are still concerned about the outlook, so there some demand for the kind of stocks that could hold up well.

Early focus had been on central bank interest rate decisions, with both the Bank of England and European Central Bank keeping rates unchanged as expected.

Of more interest to some in the market was the BoE's decision to hold off from extending its quantitative easing programme, which has supported stocks and other assets, although the FTSE's reaction was only slight.

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