By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- London stocks fell on Tuesday after the
prior session saw the best gains in more than five weeks for the
FTSE 100. ARM Holdings PLC and Tullow Oil PLC were along the
decliners, along with insurers. Shares of Burberry surged on a
broker upgrade.
The FTSE 100 index fell 0.4% to 6,283.81. The index gained 1.5%
on Monday, its biggest percentage gain since May 28, 2013 as
investors cheered upbeat economic data in the U.K., Europe and the
U.S.
Shares of chip designer ARM Holdings (ARMHY) fell 2.5%, in step
with losses for other technology companies across Europe.
Oil and gas company Tullow Oil PLC fell 1.1%, giving back some
of gains earned the prior day after an upgrade from Nomura.
Also lower were shares of Old Mutual PLC , down 1.6%. Insurers
Standard Life PLC declined 1.5%, while shares of Prudential PLC
fell 0.8%.
Miners continued to move higher after prior-day gains. Shares of
Glencore Xstrata PLC rose 1.8%, and BHP Billiton PLC were up
1.3%.
Also higher, shares of Burberry Group PLC surged 3.3% to 1,410
pence after HSBC lifted the luxury retailer to overweight from
neutral, and its price target to 1,750 pence from 1,530 pence.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires