U.K. Stocks Decline, With FTSE 100 Heading for Third Weekly Lossby
Britain’s shares are heading for their longest streak of weekly slumps since January amid declines in commodity producers.
Glencore Plc lost 2.7 percent, set for its lowest price in almost a month. Interserve Plc plunged 26 percent after warning of a construction charge and higher debt. Man Group Plc, the world’s largest publicly traded fund-management company, sank 7.1 percent after Citigroup Inc. advised to sell the shares, changing its recommendation from a buy. InterContinental Hotels Group Plc slipped 1.4 percent after reporting revenue per available room that missed analysts’ estimates.
The FTSE 100 Index dropped 0.5 percent at 9:06 a.m. in London, extending the decline for the shortened week to 2.5 percent -- the most since February. The broader FTSE All-Share Index also fell on Friday, while Ireland’s ISEQ Index was little changed.