UK stocks fell for the first time in three days, led by a selloff in banks and mining companies, as analysts said new rules may cost lenders as much as 244 billion euros ($306 billion) and metal prices fell.

Barclays Plc lost 3.2 percent as Credit Suisse Group AG said in a report bank earnings may be curbed 37 percent by regulatory changes. Xstrata Plc dropped 3.2 percent as copper, aluminum and zinc tumbled on the London Metal Exchange.
The benchmark FTSE 100 Index declined 64.58, or 1.2 percent, to 5,369.15 at 09:11 A.M. in London, trimming this week’s gain to 4.8 percent. The FTSE All-Share Index fell 1.1 percent and Ireland’s ISEQ Index dropped 1.1 percent.
Barclays sank 3.2 percent to 318.45 pence, while Lloyds Banking Group Plc declined 3.1 percent to 58.70 pence. Royal Bank of Scotland Group Plc slid 2.3 percent to 48.05 pence.
“Given the increase in regulatory proposals in recent months we believe that it is helpful for investors ahead of next month’s G20 summit to track the impact,” London-based Credit Suisse analyst Jagdeep Kalsi wrote in a report.
(Source: Bloomberg)