BRUSSELS (dpa-AFX) - The UK stock market's benchmark index FTSE 100 is down in negative territory on Friday, weighed down by losses in the banking sector. After nine successive days of gains, the index looks likely to settle on a weak note today.
Amid a lack of fresh economic and earnings news, investors are mostly seen making cautious moves and trimming down positions.
The FTSE 100 was down 34.95 points or 0.36% at 9,725.09 a few minutes past noon.
WPP, Auto Trader Group and Burberry Group are down 3.3 to 3.7%. Whitbread is down nearly 2%, while Intercontinental Hotels Group, BP, Natwesst Group, Standard Chartered, Shell, Sainsbury (J), Coca-Cola Europacific Partners, Next, Beazley and HSBC Holdings are down 1 to 1.7%.
Metlen Energy & Metals and Smith & Nephew are gaining 2.2% and 2.1%, respectively. BAE Systems is rising 1.7%.
Hikma Pharmaceuticals, Babcock International Group, Diageo, Haleon, Persimmon, British American Tobacco and Berkeley Group Holdings are up 0.6 to 1.2%.
Fresnillo is gaining about 0.8%. The company has announced plans to acquire Canadian gold miner Probe for about £424 million, as part of its effort to diversify beyond Mexico.
Data from the Nationwide Building Society showed UK house prices increased at a slower pace in October as buyers became cautious ahead of the budget.
House price posted a monthly growth of 0.3% in October, slower than the 0.5% rise seen a month ago, the data said. Nonetheless, the figure was better than the forecast of nil growth.
On a yearly basis, house price growth accelerated more-than-expected to 2.4% from 2.2% in September. Economists had forecast an annual increase of 2.3%.
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