FTSE 100 Falls; Home Retail Closes Lower Before Sainsbury Offerby
U.K. stocks fell after an earlier bank-led rally faded in the closing hour of trading.
Home Retail Group Plc dropped 9.9 percent, after potential suitor Steinhoff International Holdings NV said it no longer intended to offer. After the close of trading, J Sainsbury Plc swooped in with its own bid for Home Retail. Miners and oil companies fell, with Antofagasta Plc and Royal Dutch Shell Plc losing 1.9 percent or more.
Standard Chartered Plc added 7.6 percent. Whitbread Plc jumped 2.9 percent after Jefferies raised its rating on shares of the hospitality group to hold.
The FTSE 100 Index fell 0.2 percent to close at 6,189.64 in London, reversing earlier gains of as high as 0.6 percent. The decline trimmed the benchmark’s weekly rise to 0.8 percent, its fourth weekly advance in five. The broader FTSE All-Share Index lost 0.1 percent on Friday, and Ireland’s ISEQ Index rose 0.8 percent.