UK Stocks Decline as Share Trading Volume was Unexpectedly Low

The UK stocks experienced decline amidst the fall of the mining companies. The Finance Ministers of the Group of 20 countries, incidentally, have already signaled that Japan still has the room to make further monetary stimulus. The benchmark gauge FTSE 100 Index experienced a loss of 12.28 points and is currently at 6315.98. In 2013 so far, it has increased by 7.1%. The broader FTSE All Share Index experienced a decline of 0.2%, whereas, the benchmark gauge of Ireland, the ISEQ Index saw a retreat of 0.2% as well. Incidentally, today being the President’s Day, the US markets were closed.

According to the strategist of Shore Capital Group Ltd., Gerard Lane, the earnings session of today disappointed the investors big time. Gerard added that the overall volumes were unexpectedly low despite the half-term holiday in UK and full holiday in US. He commented further that the UK market, probably, will be looking forward to the ongoing rhetoric between the Republicans and Democrats.

Today, the volume of share trades was around 46% lower in comparison to the average of the last 30 days. The gauge which determines the mining stocks’ prices went down by 1% as the copper prices declined by 0.9% as well. The second biggest mining company in the world, Rio Tinto, experienced a decline of 1.1% and is currently at 3693.5 pence. Antofagasta Plc. also went down by 1.8% and each share is now at 1099 pence. Anglo American Plc. retreated by 2.1% and each of its shares is now priced at 1995.5 pence.

Carnival Corp. shares declined by 2.2% after the report of the New York Times came out. Incidentally, it stated that Carnival will start a full-fledged investigation of the Triumph Ship, which, on last week, was towed to shore because of a fire breakout. After the announcement of an Indonesian Regulator was made stating that the new owner for the PT Bumi Resources Business should be making a tender offer, Bumi Plc. showed increase of 4.4%.

The asking price of UK houses got increased by 2.8% in this month to $365000. This marks the highest price in the last 5 years, as far as the report released by Rightmove Plc.; a property website operator is concerned. The prices jumped up by 1.1% from last year’s price. In London, the asking prices increased by 1.2%.