UK stocks decline in early trade, FTSE 100 plunges 1.9%

LONDON: Britain’s stocks resumed their decline, falling for an 11th day in 12.

The FTSE 100 Index lost 1.9 percent at 8:25 a.m. in London, with commodity producers leading the drop once again. RSA Insurance Group Plc and Royal Bank of Scotland Group Plc were the only stocks in the gauge that didn’t fall — they were little changed.

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Glencore Plc, Antofagasta Plc and Anglo American Plc retreated more than 3.5 percent. A gauge of U.K. mining shares is near its lowest level since 2009.

Paddy Power Plc and Betfair Group Plc surged more than 16 percent after the betting companies agreed to merge.

WPP Plc fell less than the FTSE 100 after the world’s largest advertising company reported an increase in first-half sales. Vodafone Group Plc dropped 1.8 percent after agreeing to buy wireless spectrum rights from Qualcomm Inc. in the U.K.

The broader FTSE All-Share Index lost 1.7 percent, and Ireland’s ISEQ Index lost 0.7 percent.