UK Stocks Slip as Banks Drag and Oil Rises
London shares declined as heavyweight banking losses and surging oil prices dented investor sentiment. Barclays cut jobs following weak quarterly profits while inflation concerns grew.
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London's FTSE 100 fell 0.5% to 10,699.33 points during morning trading, dragged down by bank losses as crude oil prices jumped past $112 a barrel. The benchmark index slipped to its lowest level in a week as investors assessed corporate earnings reports. Energy costs fueled broader inflation worries across the United Kingdom.
