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FTSE 100 On Course For the First Weekly Decline

Jan, 20th 09:59

U.K. shares extended loss on Friday, on track for the first weekly fall in six weeks, with caution appeared to dominate market sentiment ahead of Trump’s inauguration in Washington, D.C.

The benchmark FTSE 100 edged 0.15% lower, on course to break a string of weekly wins after having dropped 0.5% on Thursday. Investors will look for confirmation that Trump will stick with his plan to push massive fiscal stimulus and relax regulations.

Shares of Royal Mail topped fallers, losing 2.2% on Friday after the mail and parcel delivery company reported poor trading at its U.K. parcels and letters division, as a result of Brexit vote. Royal Mail on Thursday said that  the number of addressed letters slipped 6 per cent in the nine months leading up to 25 December due partly to declines in advertising and business letters.

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