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U.K. Shares Give Up Their Rally, Dragged By Precious Metal Miners

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    • U.K. Shares Give Up Their Rally, Dragged By Precious Metal Miners
Jan, 06th 10:05

U.K. shares retreated from a record settlement on Friday, weighed down by stocks of precious metals miners as gold trimmed this week rally. The FTSE 100 index fell 0.07% as of 08:00 GMT to 7190.12, looking set for the first negative close in the last nine sessions.

On Thursday, the benchmark witnessed the eight straight day of closing higher and the sixth consecutive record close, which is the longest streak since 1997.

Gold miners topped the list of fallers in Friday’s trading session in London. Shares of Fresnillo PLC saw the biggest decline in the market, dropping more than 2% while those of Randgold Resources Ltd. lost around 1.8%.This was due to the slide in gold price which edged 0.26% lower to trade at $1,176 an ounce.

Leading the risers is payments processor Worldpay and Lloyds Banking Group whose ratings were upgraded by Exane BNP Paribas and Barclays, respectively.

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