China's central bank to raise interest rates the UK stock market weakness

Weakness in most UK stocks on Tuesday because China's central bank unexpectedly decided to benchmark deposit and lending interest rates 25 basis points.

In today's trading, the basic resources stocks fell, including mining giant Xstrata (Xstrata Plc) (XSRAF) fell 4.8% in the FTSE 100 index of top stocks in decline. Chip design company ARM Holdings PLC (ARM.LN) shares also fell, the company designs chips for the Apple iPhone.

Meanwhile, Barclays (BCS) and Standard Chartered (Standard Chartered Plc) (SCBFF.PK) led financial stocks higher. Software maker Autonomy Corp shares rose because the company's third quarter revenue increase. 

As of 12:46 London time (19:46 GMT), the FTSE 100 index (FTSE 100) fell 14.34 points to 5728.18 points, down 0.3% after the highest the index has gained 0.3%. Since July 1 this year lows hit the FTSE 100 index has risen by 19% due to weakening of the economic recovery process in the situation, investors speculated the Federal Reserve announced in November plans to stimulate economic growth. FTSE All Share Index (FTSE All-Share Index) fell 0.3%, Ireland ISEQ Index fell 0.3%. 

China's central bank said on its Web site today, one year deposit rate from 2.25% to 2.5%, lending rates will be from 5.31% to 5.56%, effective tomorrow.

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