U.K. Stocks Fall, Trimming Biggest Weekly Advance Since Februaryby
Britain’s shares followed the broader market lower, paring their biggest weekly advance in almost two months.
The FTSE 100 Index slipped 0.5 percent at 12:16 p.m. in London, trimming its five-day gain to 2.1 percent. Homebuilders fell another day, with Berkeley Group Holdings Plc and Barratt Developments Plc down more than 2.5 percent. Anglo American Plc lost 3.5 percent, down for a second day. Man Group Plc climbed 5.5 percent after reporting net inflows. SABMiller Plc added 1.2 percent after UBS Group AG said in a note that Anheuser-Busch InBev NV’s agreement on Thursday to support the South African beer industry clears major hurdles to its merger with the U.K. company.
The FTSE 100 erased its annual declines this week and closed on Thursday at its highest level since Dec. 2. The broader FTSE All-Share Index and Ireland’s ISEQ Index also dropped on Friday.