FTSE down as Greek parties struggle

After showing strong performance on Friday, FTSE 100 Index retreated on Monday as Greek lawmakers kept struggling with the approval of austerity measures required by bailout funding providers. FTSE 100 dropped 0.3% to 5,884.21, pushed down by Glencore International PLC on news that its merger with Xstrata PLC is likely to be investigated by the EU competition commission. Glencore lost 4% and Xstrata edged down 2%. Randgold Resources Ltd. jumped 3.2% after reporting a sharp increase in fourth quarter earnings. At the moment of writing FTSE 100 index is 0.18% or 10.78 points down at 5890.02.