Saturday, October 20, 2012

UK stocks slip back after four sessions of gains

LONDON Oct 19 (Reuters) - Britain's top share index slipped

back on Friday, snapping a four-session rally in tandem with

overnight weakness on Wall Street and in Asia, weighed by

weakness in heavyweight banks and miners.

Trading is expected to be volatile, however, with the latest

monthly futures and option expiries due to occur in London

around 0915 GMT.

At 0709 GMT, the FTSE 100 index was down 0.78 points, or 0.1

percent at 5,916.27, having gained 0.1 percent on Thursday to

hit a seven-month closing high.

Miners were a drag on the blue chips, falling

back in tandem with weaker copper prices on demand

concerns.

China's Commerce Ministry said on Friday the top metals

consumer's September trade data, which showed a surge in exports

at twice the rate expected and a return to import growth, are

not yet enough to confirm that a recovery is in place for the

external sector.

Temporary power provider Aggreko and packaging firm

Bunzl were the two top individual blue chip fallers,

down 8.4 percent and 3.4 percent respectively, after the duos

latest trading updates failed to excite investors.

(Reporting by Jon Hopkins; editing by Simon Jessop)

Source: http://news.yahoo.com/uk-stocks-slip-back-four-sessions-gains-071227977--sector.html

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