LONDON (AFP) – Shares in London closed lower on Friday, after a University of Michigan survey showed US consumer sentiment unexpectedly worsened in September to its weakest level in more than a year.
The FTSE 100 index of leading shares lost 31.69 points or 0.57 percent to 5,508.45.
Hedge fund operator MAN Group led the losers, shedding 4.41 percent to 225.20 pence, while Barclays fell 3.21 percent to 304.65 and pharmaceuticals maker Shire dropped 3.2 percent to 304.65.
Temporary power provider Aggreko was the biggest FTSE 100 gainer, adding 4.06 percent to 1,613 pence, followed by engineering group Invensys, up 3.21 percent to 285.80 pence after it unveiled a big rail deal in China.
The market reversed early gains in late trade amid bumpy trading in New York after the University of Michigan survey weighed down on strong earning reports by technology heavyweights Oracle and Research in Motion.
Gold struck an all-time high close to 1,283 dollars an ounce on Friday after chalking up a series of records this week best humidifier. Gold hit 1,282.97 dollars on the London Bullion Market before easing slightly to stand at 1,280.95.
"Traditionally we see investors flocking to gold in times of market troubles, but this relationship is out the window this week as inflation concerns, expectations for further quantitative easing from the Federal Reserve and technical triggers have driven" up the metal, said analysts at the trading group Spead Co.
"Much uncertainty remains about the global growth outlook, especially with regard to the US economy, potential for a double-dip and further Fed quantitative easing," said Credit Agricole analyst Mitul Kotecha.
The pound rose against the euro and the dollar a day after sliding in the wake of an unexpected drop in British retail sales.
FTSE ends lower after weak US indicator
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