By Sara Sjolin, MarketWatch
COPENHAGEN (MarketWatch) -- The U.K. benchmark stock index fell
slightly on Friday, as mining firms moved lower along with metals
prices and investors remained cautious ahead of the U.S. Federal
Reserve meeting next week.
The FTSE 100 index fell 0.1% to 6,583.80.
Miners posted some of the biggest losses in the index, driven
lower by weaker metals prices. Shares of Anglo American PLC dropped
3.2%, Vedanta Resources PLC lost 1.9% and heavyweight Rio Tinto PLC
(RIO) fell 1.4%.
Shares of Polymetal International PLC fell 3.5% after Credit
Suisse cut the miner to underperform from neutral.
Credit Suisse also downgraded utility firm Pennon Group PLC to
underperform from neutral. Those shares dropped 3.7%.
Bank shares also declined. Barclays PLC (BCS) lost 1.4%,
Standard Chartered PLC dropped 0.5% and HSBC Holdings PLC (HBC)
fell 0.1%.
More broadly, investors in London were hesitant of placing any
big positions ahead of the U.S. Federal Reserve's meeting next
week. Analysts speculate that the central bank could start reducing
its $85-billion-a-month asset purchases after recent data have
pointed to an improvement in the economy.
Outside the main index in London, shares of Imagination
Technologies Group PLC jumped nearly 11% after the tech firm
"significantly" expanded its strategic partnership with
MediaTek.
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