FTSE 100 down 0.6, FTSE 250 adds 0.2
Barclays down as Qatar Holdings cuts stake
November services PMI at 50.9 vs 50.5 estimate
London stock market trading resumes after small cap outage

Dec 5 Reuters Britain39;s FTSE 100 fell on Tuesday, dragged by financials, with Barclays dipping after Qatar Holdings cut its stake in the lender, while Chinaexposed banks fell following a credit outlook cut by Moody39;s.

The bluechip FTSE 100 lost 0.6, its second day in the red, while the more domesticallyfocussed FTSE 250 midcap index added 0.2.

Barclays fell 2.4 after Qatar Holdings, one of the bank39;s largest shareholders, moved to sell around 510 million pound 644 million of its stock, cutting back on its global financial crisisera investment.

Meanwhile, Moody39;s cut its outlook on China39;s government credit ratings to negative from stable, citing lower mediumterm economic growth and an ongoing downsizing of the property sector.

Chinaexposed lenders HSBC and Standard Chartered fell 0.9 and 0.4, respectively, while insurer Prudential lost 2.0.

Daniela Sabin Hathorn, a senior market analyst at Capital.com said the Moody39;s downgrade is an influential factor in Tuesday39;s fall.

But we39;re coming from a period where we39;ve seen a 39;buy everything39; rally and we39;re seeing that tested today, Hathorn added.

On the data front, a survey showed activity in Britain39;s services sector grew in November after three months of declines.

Investors are also awaiting U.S….

Leave A Comment