LONDON: U.K. stocks slid amid a resurgence of concern over Greece, and as investors speculated that the Federal Reserve may increase interest rates earlier than anticipated after a stronger-than-estimated U.S. jobs report.
European officials said that new proposals from the Greek government fell short of what was tabled two weeks ago. The nation’s ministers said they may hold a referendum on their economic plans if the reforms are rejected.
The odds of a U.S. rate increase by September jumped to 60 percent, from 49 percent on Thursday, futures showed, as U.S. payrolls in February rose more than estimated.
RSA Insurance Group Plc fell 1.6 percent as Goldman Sachs Group Inc. cut its rating on the insurer to sell, citing uncertainty surrounding pension revaluations.
GlaxoSmithKline Plc contributed the most to the FTSE 100 Index’s decline, sliding 1.3 percent. British American Tobacco Plc lost 1.1 percent.
Standard Chartered Plc gained 1.2 percent after saying it has no plan to move its group headquarters to Asia.
The FTSE 100 slid 0.7 percent to 6,866.11 at 8:49 a.m. in London. The benchmark has gained 4.6 percent this year, reaching a record on March 5. The broader FTSE All-Share Index dropped 0.6 percent today, while Ireland’s ISEQ Index lost 0.7 percent.
