London Markets: Tesco, banks drag FTSE 100 toward one-month low

By Sara Sjolin, MarketWatch

LONDON (MarketWatch) ? U.K. stocks headed for a one-month low on Wednesday, with Tesco PLC among major decliners after a disappointing trading update.

The FTSE 100 index /quotes/zigman/3173262 UK:UKX -1.36% ?lost 0.7% to 6,515.71, on track for the lowest closing level since May 2.

Shares of Tesco slump in London on Wednesday after a disappointing trading update.

Shares of Tesco /quotes/zigman/156634 UK:TSCO -3.61% ? /quotes/zigman/156646/quotes/nls/tscdy TSCDY +1.14% ?dropped 3%, after the supermarket retailer said comparable sales for the fiscal first quarter dropped 1% in the U.K, falling short of expectations.

Other supermarket chains tracked Tesco lower, with Wm. Morrison Supermarkets PLC /quotes/zigman/155311 UK:MRW -2.28% ?off 1.1% and J Sainsbury PLC /quotes/zigman/350043 UK:SBRY -1.18% ?0.4% lower. Marks & Spencer Group PLC /quotes/zigman/298234 UK:MKS -2.70% ?fell 1.9%.

Banks also added pressure in London. Royal Bank of Scotland Group PLC /quotes/zigman/10330253 UK:RBS -2.50% ? /quotes/zigman/530544/quotes/nls/rbs RBS -0.77% ?eased 1.3%, HSBC Holdings PLC /quotes/zigman/13843 UK:HSBA -1.35% ? /quotes/zigman/207333/quotes/nls/hbc HBC +0.13% ? /quotes/zigman/13834 HK:5 -0.58% ?slipped 1.1% and Standard Chartered PLC /quotes/zigman/22532 UK:STAN -2.01% ?fell 1.1%.

Shares of Aberdeen Asset Management PLC /quotes/zigman/152853 UK:ADN -5.73% ?lost 4.4%, after UBS removed the investment firm from its key call list.

Resource firms were further on the decline, ignoring rising oil and metals prices.

Among miners, Anglo American PLC /quotes/zigman/470624 UK:AAL -3.29% ?dropped 2%, BHP Billiton PLC /quotes/zigman/184879 UK:BLT -2.93% ? /quotes/zigman/270355/quotes/nls/bhp BHP -0.84% ? /quotes/zigman/180893 AU:BHP -1.37% ?lost 1.4% and Fresnillo PLC /quotes/zigman/510593 UK:FRES -2.92% ?fell 1.3%.

Energy firm BG Group PLC /quotes/zigman/249967 UK:BG -1.98% ?dropped 0.7%, Royal Dutch Shell PLC /quotes/zigman/359955 UK:RDSB -1.29% ? /quotes/zigman/379012/quotes/nls/rds.b RDS.B -1.15% ?fell 0.6% and BP PLC /quotes/zigman/210014 UK:BP -1.10% ? /quotes/zigman/247026/quotes/nls/bp BP -0.41% ?lost 0.2%.

/quotes/zigman/3173262

UK : FTSE Indices

Volume: 0.00

June 5, 2013 12:02p

/quotes/zigman/156634

UK : U.K.: London

Volume: 18.52M

June 5, 2013 12:02p

Market Cap

?28.96 billion

Rev. per Employee

?120,543

/quotes/zigman/156646/quotes/nls/tscdy

US : U.S.: OTCBB

Volume: 125,757

June 4, 2013 3:59p

Rev. per Employee

$191,279

/quotes/zigman/155311

UK : U.K.: London

Volume: 2.50M

June 5, 2013 12:02p

Rev. per Employee

?140,756

/quotes/zigman/350043

UK : U.K.: London

Volume: 1.30M

June 5, 2013 12:02p

Rev. per Employee

?153,309

/quotes/zigman/298234

UK : U.K.: London

Volume: 1.68M

June 5, 2013 12:02p

Rev. per Employee

?123,471

/quotes/zigman/10330253

UK : U.K.: London

Volume: 4.06M

June 5, 2013 12:02p

Market Cap

?37.32 billion

Rev. per Employee

?225,369

/quotes/zigman/530544/quotes/nls/rbs

US : U.S.: NYSE

Volume: 2.35M

June 4, 2013 4:05p

Rev. per Employee

$355,222

/quotes/zigman/13843

UK : U.K.: London

Volume: 7.74M

June 5, 2013 12:02p

Market Cap

?134.17 billion

Rev. per Employee

?204,167

/quotes/zigman/207333/quotes/nls/hbc

US : U.S.: NYSE

Volume: 1.31M

June 4, 2013 4:06p

Market Cap

$205.24 billion

Rev. per Employee

$320,506

/quotes/zigman/13834

HK : Hong Kong

Volume: 10.72M

June 5, 2013 4:01p

Market Cap

HK$1593.33 billion

Rev. per Employee

HK$2.50M

/quotes/zigman/22532

UK : U.K.: London

Volume: 2.14M

June 5, 2013 12:02p

Market Cap

?37.13 billion

Rev. per Employee

?187,578

/quotes/zigman/152853

UK : U.K.: London

Volume: 3.23M

June 5, 2013 12:02p

Rev. per Employee

?500,360

/quotes/zigman/470624

UK : U.K.: London

Volume: 2.04M

June 5, 2013 12:02p

Market Cap

?21.46 billion

Rev. per Employee

?171,231

/quotes/zigman/184879

UK : U.K.: London

Volume: 2.78M

June 5, 2013 12:02p

Market Cap

?40.19 billion

Rev. per Employee

?911,375

/quotes/zigman/270355/quotes/nls/bhp

US : U.S.: NYSE

Volume: 1.64M

June 4, 2013 4:00p

Market Cap

$106.32 billion

/quotes/zigman/180893

AU : Australia: Sydney

Volume: 9.46M

June 5, 2013 5:49p

Market Cap

$109.49 billion

/quotes/zigman/510593

UK : U.K.: London

Volume: 263,390

June 5, 2013 12:02p

Rev. per Employee

?435,260

/quotes/zigman/249967

UK : U.K.: London

Volume: 1.89M

June 5, 2013 12:02p

Market Cap

?41.10 billion

/quotes/zigman/359955

UK : U.K.: London

Volume: 1.34M

June 5, 2013 12:02p

Market Cap

?140.37 billion

/quotes/zigman/379012/quotes/nls/rds.b

US : U.S.: NYSE

Volume: 1.22M

June 4, 2013 4:03p

Market Cap

$214.73 billion

/quotes/zigman/210014

UK : U.K.: London

Volume: 6.25M

June 5, 2013 12:02p

Market Cap

?89.05 billion

/quotes/zigman/247026/quotes/nls/bp

US : U.S.: NYSE

Volume: 3.73M

June 4, 2013 4:00p

Market Cap

$136.23 billion

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

Source: http://feeds.marketwatch.com/~r/marketwatch/financial/~3/f2NXWgkmQYM/story.asp

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