By Sara Sjolin, MarketWatch
LONDON (MarketWatch)—The U.K.’s top stock index headed for a weekly loss on Friday, as miners and oil firms declined on the back of falling commodity prices, while Royal Bank of Scotland Group PLC rose after reporting first-quarter earnings.
The FTSE 100 index UK:UKX -0.82% lost 0.8% to 5,717.24, leaving it on track to close the week with a more than 1% decline.
Miners weighed the most on the index, as metals prices slumped across the board. Antofagasta PLC UK:ANTO -4.15% gave up 3.9%, Kazakhmys PLC UK:KAZ -3.94% fell 3.8% and heavyweight Rio Tinto PLC UK:RIO -3.08% RIO -3.33% slipped 2.2%.
Oil firms were also lower with BP PLC UK:BP -1.42% BP -0.80% dropping 1.4%, BG Group PLC UK:BG -2.98% losing 2% and Royal Dutch Shell PLC UK:RDSA -0.80% UK:RDSB -1.02% RDS.A +0.04% RDS.B -0.15% off 0.7%.
The broader U.K. stock index tracked broad-based losses on European bourses as the Markit composite purchasing managers’ index showed contraction in private-sector business activity in the euro zone accelerated sharply in April. Euro-zone April composite PMI posts steep fall
Investors were also waiting for nonfarm-payroll numbers from the U.S. due later in the day.
Bucking the negative trend in London, Royal Bank of Scotland Group UK:RBS +2.54% RBS -2.48% added 2.8%. The bank said its first-quarter net loss widened to 1.52 billion pounds ($2.46 billion), while its first-quarter operating profit topped forecasts, according to reports. RBS loss widens to 1.52 billion pounds
Lloyds Banking Group PLC UK:LLOY +2.05% LYG -2.44% rose 1%.
