London Stays Low

There was little positive news reported from the London Stock Exchange this week as markets remain somewhat stagnant, The U.K.’s FTSE 100 Index closed little changed on Friday, capping the benchmark gauge’s first weekly decline this month.  Xstrata Plc and Glencore International Plc fell as the companies requested a one-week extension for directors to decide on the commodity trader’s $35 billion takeover offer. Vedanta Resources Plc and Evraz Plc paced advancing shares as metal prices climbed. Pearson Plc rose the most in five months after Exane BNP Paribas upgraded the publisher. The FTSE 100 slipped 2.02 points, or less than 0.1 percent, to 5,852.62 at the close of trading in London. The gauge erased an earlier advance of as much as 0.6 percent as options on the index expired in a process known as witching. Individuals around the country are looking for credit and as banks increasingly say no they are looking to payday text loans and other finance providers. The broader FTSE All-Share Index was also little changed, while Ireland’s ISEQ Index climbed 0.6 percent. This morning FTSE 100 Futures expiring in Decembers are off 0.9%. Rio Tinto Group may lead mining companies lower after the shares dropped 2.4 percent in Sydney trading.