U.K. Shares Lose Ground, Set To Close the Holiday-shortened Week Lower

U.K. shares plunged on Thursday ahead of a long holiday with the equity market closed on Friday for the Good Friday holiday and Monday in observance of Easter. Banking stocks lost ground as investors were taking caution, waiting for financial results from U.S. heavyweights in the sector including Citigroup Inc, J.P. Morgan Chase & Co. and Wells Fargo & Co.

The FTSE 100 lost more than 0.5 percent to trade as low as 7304.00, on course to close the holiday-shortened week lower. Bank shares weighed down the stock benchmark with equities of HSBC Holdings PLC shedding 1.62 percent. Stocks of Barclays PLC slipped 0.89 percent while those of Royal Bank of Scotland PLC and Standard Chartered PLC stumbled around 1.5 percent each.

Miners’ shares were fixed. While stocks of Glencore PLC, Rio Tinto PLC and Anglo American PLC were lower, those of Fresnillo PLC, Randgold Resources PLC and Antofagasta PLC were trading in positive territories.

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