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FTSE 100 drops on Monday

Xinhua, May 12, 2015 Adjust font size:

FTSE 100 Index, British benchmark stock market gauge, Monday decreased by 0.24 percent, or 16.97 points, to 7,029.85 points.

The London stock index pulled back after a 2.3 percent surge on Friday following the British Conservative victory in the general elections.

Besides, the Bank of England (BoE) Monday voted to keep its main interest rate Bank Rate unchanged at 0.5 percent, and quantitative easing (QE) policy at 375 billion pounds (or 583 billion U.S. dollars).

Royal Mail led the top losers of the blue chips with a share price drop of 3.90 percent, followed by Taylor Wimpey (2.67 percent), 3i Group (2.59 percent), Sage Group (2.30 percent) and Hikma Pharmaceuticals (2.19 percent).

CRH's share price increased by 2.86 percent, topping the gainers of the blue chips. St James's Place, Mondi, Associated British Foods and Shire Plc increased by 2.29 percent, 1.86 percent, 1.67 percent and 1.59 percent respectively.

The index has gained 8.79 percent so far this year when measured in U.S. dollar. Endit