FTSE 100 Notably Lower, As Stocks Fall For 2nd Straight Session
(RTTNews) - U.K. stocks are showing weakness on Friday, extending losses from the previous session, weighed down by losses at several counters from across various sectors.
Mining stocks are hurt due to weak metal prices amid worries about China's economic growth.
The benchmark FTSE 100 was down 72.43 points or 0.74% at 9,663.35 nearly an hour past noon.
RightMove plummeted 22% this morning, falling to the lowest level in two years, after the company lowered its earnings guidance. Despite recovering some ground, the stock is down as much as 14%.
IAG is down more than 9% after it posted a drop in net profit and flat revenue in the third quarter, hit by weak demand for economy class seats on transatlantic flights.
Auto Trader Group, BT Group, Metlen Energy & Metals, Experian, Sainsbury (J), Relx, Easyjet, IMI, Intertek Group, Pearson and Mondi are down 2 to 4%.
Hikma Pharmaceuticals is gaining nearly 1.5%. Coca-Cola Europacific Partners, Intercontinental Hotels Group, WPP, Land Securities, Hiscox, Airtel Africa and AstraZeneca are up 0.3 to 1%.
In economic news, U.K. house prices grew 0.6% month-on-month in October, which was the fastest since January as market activity remained strong ahead of Autumn Budget, mortgage lender Halifax reported.
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