Reuters: Hot Stocks: UK stocks weaken at year-end on U.S. fiscal woes

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UK stocks weaken at year-end on U.S. fiscal woes Dec 31st 2012, 08:16 LONDON | Mon Dec 31, 2012 3:16am EST LONDON Dec 31 (Reuters) - Britain's top shares fell on Monday, the final trading session of 2012, led lower by banking stocks as faltering U.S. budget talks knocked investor sentiment. The FTSE 100 was down 23.92 points, or 0.4 percent, at 5,901.45 by 0809 GMT, having shed 0.5 percent on Friday. Markets face kicking off 2013 without a deal to avert the "fiscal cliff" of steep tax increases and spending cuts. Lawmakers in Washington have been struggling to reach agreement, but there are still significant differences between the two sides. The U.S. Senate will convene at 11 a.m. Washington time (1600 GMT) to continue discussion. London markets will have closed by then, with the half-day session finishing at 1230 GMT. "I can't see there being a deal done today... I imagine we're going to come off quite heavily, so down today... (and) Wednesday fairly heavily down," Joe Rundle, head of trading at ETX Capital, said. (Reporting by Tricia Wright)

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