By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K. stocks were on track to break an
eight-day winning streak on Tuesday, with miners adding pressure,
while Severn Trent PLC soared after bid news.
The FTSE 100 index slipped 0.1% to 6,624.87, pulling back after
reaching the highest closing level since October 2007 on
Monday.
Shares of Severn Trent jumped 15%, after the water-utility firm
said it received a "very early stage" bid approach, although no
proposal has been made.
United Utilities Group PLC tracked Severn Trent higher and
gained 4.1%.
Mining firms, however, added pressure in Europe, as metals
prices traded mixed. Eurasian Natural Resources Corp. dropped 2.8%,
Anglo American PLC fell 2.5% and Rio Tinto PLC (RIO) gave up
2.2%.
TUI Travel PLC slipped 1.8%, after J.P. Morgan Cazenove cut the
holiday firm to neutral from overweight.
Babcock International Group PLC put on 4%, after the engineering
support-services firm reported a rise in fiscal full-year pretax
profit and said it sees strong progress this year.
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