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"Markets are still troubled by the idea of contagion from the debt crisis to the rest of the world"
- Morten Kongshaug, chief equity strategist at Danske Bank A/S
U.K. stocks dropped for a fifth consecutive day on Friday, after France and Germany clashed over the role of the ECB in financial crisis management. The benchmark FTSE 100 index edged lower 1.11%, or 60.20 points, to 5,362.94. The FTSE All-Share Index also decreased 1.09%, or 30.47 points, to 2,764.19.
"Markets are still troubled by the idea of contagion from the debt crisis to the rest of the world," said Morten Kongshaug, chief equity strategist at Danske Bank A/S in Copenhagen. "We're beyond political solutions and stocks drift in the direction spot news provides."
Rightmove, an online real estate portal, is to announce change in its home price index for November later today. Prices rose 2.8 percent in October after gaining 0.7 percent in September.