NEW YORK: U.K. stocks fell for a second day amid mounting pressure for Greece to reach a deal with its creditors before its bailout agreement ends this month.
The FTSE 100 Index dropped 0.5 percent to 6,863.59 at 8:43 a.m. in London. The broader FTSE All-Share Index dropped 0.4 percent, while Ireland’s ISEQ Index slid 0.4 percent.
Centrica Plc plunged 7.6 percent after the biggest supplier of energy to U.K. households cut its dividend and reported a loss in 2014.
BP Plc and Royal Dutch Shell Plc followed oil and gas shares lower, falling at least 1 percent, before a report that is expected to show U.S. oil stockpiles reached a fresh record last week. BHP Billiton Plc and Anglo American Plc tracked commodity prices lower. BAE Systems Plc lost 2 percent after Europe’s largest defense company said full-year profit fell.
British Land Co. climbed 1.4 percent after Societe Generale SA recommended buying shares of the real estate investment trust.
Greece plans to submit a request to the euro area for a six-month loan extension on Thursday, according to a government official. The nation has been at odds with other euro-area governments over the formula needed to extend the country’s 240 billion-euro rescue beyond its expiry at the end of February.
