FTSE 100 Declines As Energy Stocks Weigh
U.K. stocks declined on Wednesday as lower oil prices weighed on the energy sector and investors braced for the Easter weekend.
The benchmark FTSE 100 dropped 29 points, or 0.4 percent, to 7,901 after edging up 0.2 percent on Tuesday.
BP Plc fell 1.6 percent and Shell dropped 1.1 percent as crude prices fell for a second day running on industry data showing rising U.S. crude inventories.
DS Smith shares soared 7 percent. Responding to media speculation, the paper and packaging company confirmed that it is in discussions with International Paper for an all-stock offer deal valued at 5.72 billion pounds ($7.22 billion).
CRH gained about 1 percent. The provider of building materials said that it has completed the second phase of the divestment of its lime operations in Europe, including the UK.
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