U.K. Stocks Fall to Extend Weekly Drop; BP Retreats With Miners
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The FTSE 100 Index retreated along with global equities as investors cut exposure to riskier assets after U.S. payrolls data failed to add clarity on whether the Federal Reserve will raise interest rates.
Miners and energy producers fell the most among industry groups in Europe. BP Plc fell 4.9 percent after Bank of America Corp. downgraded the oil company to underperform, the equivalent of a sell rating, citing risks of capital expenditure cuts and dilutive acquisitions. Anglo American Plc and Glencore Plc lost more than 6 percent each.