BRITISH stocks slumped in the final hour of trading today as an initial rally on Wall Street faded. UK stocks traded quietly for much of the day. Gains were held in check by the rash of company rights offerings and borrowings earlier this week. The FTSE-100 index of British blue chips closed 2.9 points lower, with gains in banking and electricity stocks offset by weaker brewers and stores. British Telecom, Marks & Spencer and Guinness had the biggest negative impact on the FTSE-100, wiping 5.1 points off the index. ''There's a little bit of indecision in the market and not much else,'' said Mr Scott Fulton, an analyst at Yamaichi International. ''There are very conflicting influences . . . what we need to see is something clear that the UK is on the way to recovery.'' ''Effectively there was little interest today,'' said Mr Jerry Evans, equity strategist at NatWest Securities. ''The major story today is that London didn't follow through from New York,'' said Mr Andy Hartwill, of Banque Paribas. Yesterday Saatchi & Saatchi, Compass and Allied-Lyons announced bond and share issues totalling GBP360 million pounds.