Reuters: Hot Stocks: Britain's FTSE falls as U.S. budget talks slow

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Britain's FTSE falls as U.S. budget talks slow Nov 28th 2012, 08:11 LONDON | Wed Nov 28, 2012 3:11am EST LONDON Nov 28 (Reuters) - UK blue chips edged lower early on Monday as signs of sluggish progress in crucial U.S. budget talks fueled some profit-taking after recent gains. Risk-sensitive cyclical stocks lead the retreat after U.S. Senate Majority Leader, Harry Reid, said there had been "little progress" among lawmakers in negotiations to avoid a 'fiscal cliff' of spending cuts and tax hikes that could stall growth in the world's largest economy. At 0808 GMT, Britain's FTSE 100 was down 11.38 points, or 0.2 percent at 5,788.33 points, retracing all of Tuesday's rally and a fraction of the 213 points gained last week. United Utilities topped the FTSE 100 leader board, up 2 percent after the multi-utility posted a rise in first-half revenues and said it was on track to meet regulatory outperformance targets. (Reporting By Francesco Canepa)

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