LONDON: U.K. stocks fell, led by shares of Glencore Plc, which fell for the first time in three days after positing the biggest ever advance yesterday.
The FTSE 100 Index fell 0.4 percent to 6,271.46 at 9:06 a.m. in London. The benchmark yesterday capped a fourth day of gains, its longest winning streak since July. The broader FTSE All-Share Index dropped 0.4 percent, and Ireland’s ISEQ Index lost 0.3 percent.
Glencore, run by billionaire Ivan Glasenberg, has more than recovered losses since its record 29 percent plunge a week ago. The shares surged 21 percent on Monday, the most since the commodity miner and trader’s initial public offering in 2011. The miner tumbled 77 percent this year through Sept. 28 amid worry about the company’s solvency.
Peers Anglo American Plc, Rio Tinto Group and Fresnillo Plc also fell.
Wm Morrison Supermarkets Plc rose after saying it has abandoned a strategy to match prices of rivals. 3i Group Plc rose for a fifth day. The company last week appointed an advisor to handle an auction of its Mayborn Group unit, Sky News reported.
