U.K. Stocks Erase Earlier Gains, Led by Vedanta and Wolfson

By Alexis Xydias

Oct. 2 (Bloomberg) -- U.K. stocks fell, erasing earlier gains. Vedanta Plc, India's largest copper producer, and Wolfson Microelectronics Plc led the retreat.

The FTSE 100 Index lost 31.69, or 0.6 percent, to 4,927.90 at 3:07 p.m. in London, after earlier gaining as much as 1.9 percent.

Vedanta fell 111.5 pence, or 11 percent, to 993.5, an eighth day of declines. Shares in the mining company cut to ``sell'' from ``buy'' by Goldman, Sachs & Co., which also added the stock to its ``conviction sell'' list.


Wolfson tumbled 20.5 pence, or 19 percent, to a record low of 89 pence. The maker of semiconductors used to power mobile phones said it has experienced a ``material reduction'' in orders.

To contact the reporters on this story: Alexis Xydias in London at axydias@bloomberg.net.