UK stocks saw a decline on Wednesday due to falling oil prices which negatively impacted the energy sector. This drop in the market came as investors prepared for the Easter weekend.
The FTSE 100, a benchmark index on the London Stock Exchange, fell by 29 points or 0.4 percent, settling at 7,901. This came after a slight increase of 0.2 percent on Tuesday.
Leading energy firms such as BP Plc and Shell saw a fall in their stock prices, with BP Plc falling by 1.6 percent and Shell by 1.1 percent. This fall in energy shares was due to a drop in crude oil prices for the second consecutive day on account of data indicating a rise in US crude inventories.
In contrast, DS Smith, a paper and packaging company saw an approximate 7 percent rise in its shares. This increase is due to confirmation from the company that it is in talks with International Paper for a potential all-stock offer deal worth 5.72 billion pounds (or $7.22 billion).
Furthermore, shares of CRH, a building materials provider, rose by about 1 percent. The company announced the completion of the second phase of its lime operations divestment in Europe, including the UK.
