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FTSE ends lower for 4th day; banks, commods weigh

Fri Nov 20, 2009 11:18pm IST
 
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* FTSE 100 falls 0.3 pct; lowest close in 10 days

* Energy stocks biggest fallers as crude prices drop

* Financials slip; but defensive shares in demand

By Tricia Wright

LONDON, Nov 20 (Reuters) - Britain's top share index ended in negative territory for a fourth consecutive session on Friday as weakness in commodity stocks and banks outweighed gains from defensive pharmaceuticals.

The FTSE 100 .FTSE ended down 16.29 points, or 0.3 percent, at 5,251.41 points, the lowest close since Nov 10. It ended down 1.4 percent on Thursday, its biggest one-day fall for three weeks. The index is still up 52 percent from a March low.

"Sentiment appears to have started to shift slightly away from further gains, and towards a possible rebound in the U.S. dollar, as investors start to take money off the table and become slightly more risk averse," Michael Hewson, analyst at CMC Markets.

Energy stocks took the most points off the index as crude fell 1.1 percent, pressured by a stronger U.S. dollar. BG Group (BG.L: Quote, Profile, Research), Royal Dutch Shell (RDSa.L: Quote, Profile, Research) and BP (BP.L: Quote, Profile, Research) shed 0.4 to 1 percent.   Continued...

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
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