Reuters: Hot Stocks: Britain's FTSE 100 retreats on euro zone concerns

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Britain's FTSE 100 retreats on euro zone concerns Dec 10th 2012, 08:04 LONDON | Mon Dec 10, 2012 3:04am EST LONDON Dec 10 (Reuters) - Britain's top share index edged lower on Monday, with Italian political wrangles putting the spotlight back on to the euro zone crisis and overshadowing tentative signs of improvement in the global economy. Italian Prime Minister Mario Monti said on Saturday that he would resign after the 2013 budget is approved, increasing political uncertainty in the heavily indebted country and likely bringing forward elections to February. With unpredictable Silvio Berlusconi bidding to return to power, the news of Monti's resignation unsettled equity markets, prompting investors to take profits on three weeks of gains. The FTSE 100 was down 9.55 points or 0.2 percent at 5,904.85 by 0801 GMT after failing to break above key technical resistance in the 5,920-5,930 area last week. Banks, which are most directly exposed to the euro zone crisis through sovereign debt holdings, were one of the worst performing sectors, down 0.5 percent. (Reporting By Toni Vorobyova)

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