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.
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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.
