17.03.201404:47:16UTC+00U.K. Stocks Decline, Log Longest Declining Streak Since 2011

U.K. stocks sagged down a sixth day, the longest streak since November 2011, before Crimea holds a referendum on whether to leave Ukraine and join Russia.

Bank of Georgia Holdings Plc pulled back 7.3 percent as an investor pulled a share sale. J Sainsbury Plc. increased 2.9 percent, bouncing back from its largest decline since October 2008 yesterday. Boohoo.com Plc rose 40 percent on the online fashion retailer’s first day of exchanging.

The FTSE 100 Index retreated 25.89 points, or 0.4 percent, to 6,527.89 at the close of exchanging in London. The benchmark gauge has relinquished 2.8 percent this week, the most since June, continuing the decline from its 14-year high on February 24 to 4.9 percent. The broader FTSE All-Share Index also gave up 0.4 percent today, while Ireland’s ISEQ Index missed 1.8 percent.

Clashes in eastern Ukraine late yesterday killed one person, according to the state administration in the city of Donetsk. Russian Foreign Minister Sergei Lavrov said the nation has no plans to invade eastern Ukraine, following discussions with U.S. Secretary of State John Kerry before Crimea’s vote on Sunday. The Group of Seven nations have said they will not recognize the outcome of the plebiscite.

Bank of Georgia slipped 7.3 percent to 2,193 pence. One of the lender’s investors pulled a stake sale before the opening of European trading today because the shareholder wasn’t satisfied with the price, two people with knowledge of the deal said. Renaissance Capital and Numis Securities Ltd. had offered as many as 1.82 million shares in the lender.

Sainsbury increased 2.9 percent to 313.6 pence, after tumbling 8.5 percent yesterday.

Boohoo.com skyrocketed 40 percent to 70 pence after raising 300 million pounds ($498 million) in its initial public offering. The own-brand retailer will use part of the proceeds to expand its distribution facilities and develop its IT systems.