UK's FTSE 100 falls as energy stocks weigh; Man Group lifts midcaps

UK's blue-chip FTSE 100 fell on Friday dragged down by energy- linked stocks, while fund manager Man Group led mid-cap shares higher after after announcing a share buy-back programme. The blue-chip FTSE 100 fell 0.1% by 0853 GMT, while the domestically focused FTSE 250 mid-cap index added 0.14%. However, both the indices are set to end the week lower.


Reuters | London | Updated: 09-12-2022 14:49 IST | Created: 09-12-2022 14:46 IST
UK's FTSE 100 falls as energy stocks weigh; Man Group lifts midcaps
Representative image Image Credit: Flickr
  • Country:
  • United Kingdom

UK's blue-chip FTSE 100 fell on Friday dragged down by energy- linked stocks, while fund manager Man Group led mid-cap shares higher after after announcing a share buy-back programme.

The blue-chip FTSE 100 fell 0.1% by 0853 GMT, while the domestically focused FTSE 250 mid-cap index added 0.14%. However, both the indices are set to end the week lower. The investment banking and brokerage services index rose 0.7%, supported by a near 5% jump in Man Group after it announced a share buyback programme of up to $125 million.

The biggest drag on the FTSE 100 were energy firms , which fell 0.9% on subdued crude prices. Industrial miners, on the other hand, gained 1.3%, as the easing of COVID-10 restrictions in China boosted hopes that demand would recover in the world's second-largest economy.

Anglo American Plc rose 1.4% after the copper miner said it expects production to rise over the next two years.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback