FTSE retreats after jumping to 5-month high

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Source: Dukascopy Bank
After climbing to 5-month record high on Thursday, FTSE 100 Index pulled back 0.3% on Friday, pressed by oil and mining stocks. Investors also perceived negatively the lingering Greece's debt negotiations. BP PLC lost 2.7%, Cairn Energy PLC dropped 0.8% and Tullow Oil PLC slipped 1.2%. Petrofac Ltd. tumbled 4.7% after the firm was downgraded from buy to neutral due its worsening growth prospects. Mining companies Antofagasta PLC and EVRAZ PLC dropped 2.0% and 1.7%, respectively. At the moment of writing FTSE 100 is 0.03% or 1.53 points down at 5,739.62.

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Fri, 20 Jan 2012 16:15:16 GMT

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