LONDON: U.K. stocks were little changed, erasing an earlier advance, as gains in miners offset declines in shares of homebuilders.
Rio Tinto Group and BHP Billiton Ltd. climbed more than 1.3 percent as commodity shares rebounded from yesterday’s decline. Barratt Developments Plc and Persimmon Plc lost at least 1.4 percent after a report showed house prices grew at a slower annual pace in February from a month earlier.
The FTSE 100 Index dropped less than 0.1 percent to 7,061.96 at 10:04 a.m. in London, erasing gains of as much as 0.3 percent. The benchmark gauge is up 7.6 percent this year. The FTSE All-Share Index was also little changed, while Ireland’s ISEQ Index slid 0.2 percent.
Among other shares active, Tullow Oil Plc rallied 6.1 percent after Citigroup Inc. recommended buying the shares, saying investors are discounting growth in East Africa. Barclays Plc and Royal Bank of Scotland Group Plc gained at least 1 percent. Aberdeen Asset Management Plc fell 1.9 percent as RBC Capital Markets LLC downgraded the shares, predicting faster equity outflows.
Stocks House Prices London East Africa
