U.K. stocks fell for the first time in seven days as Tate & Lyle Plc and Rolls-Royce Holdings Plc published disappointing forecasts, while data showed U.S. retail sales declined in January and jobless-benefit claims increased.
It’s 20 minutes before 4 p.m. in London and currency traders’ screens are blinking red and green. Some dealers have as many as 50 chat rooms crowded onto four monitors arrayed in front of them like shields. Messages from salespeople and clients appear, get pushed up by new ones and vanish from view. Orders are barked through squawk boxes.
Aberdeen Asset Management Plc agreed to buy Lloyds Banking Group Plc’s Scottish Widows Investment Partnership unit for 560 million pounds ($903 million), a deal that will create Europe’s largest publicly traded money manager.