2014.10.0108:48:43UTC+00UK stocks on three-day losing streak, grocers slump

UK stocks are in its third consecutive day of decline as grocers dragged the market down.

The FTSE 100 index shed 0.5% or 31.23 points to 6,591.49, 9:17 am , London time. Since last week, the index had already lost 0.8%. For the quarter, it is now down a total of 1.8% as protests in Hong Kong escalate.

The third largest grocer in UK, J Sainsbury Plc, plunged 3.3% following its announcement that it won’t be seeing much growth for the current year as it struggles with the proliferation of discount stores. Other grocers, Tesco Plc and WM Morrison Supermarkets Plc shed at least 2.5% each.

Hong Kong demonstrators entered the sixth day of protests as the call for Chief Executive of Hong Kong, Leung Chun-ying’s step down faces a deadline. Tens and thousands of protesters is expected to grow as China enters the Golden Week.