By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.K. stocks fell Friday, with pressure
on shares of Sports Direct International and further weakness from
supermarket chain Tesco PLC, whose shares are facing their worst
weekly performance more than two years.
The U.K.'s FTSE 100 index fell 0.3% to 6,621.83.
Sports Direct dropped 2.2%, extending Thursday's loss of 3.4%.
The retailer, under owner Mike Ashley's direction, made a 43
billion pound ($70.1 billion) bet via a put-option that shares of
embattled Tesco will rise, it said.
Shares of Tesco were down 0.6% on Friday. The supermarket chain
is on track for a weekly slide of 17% after Monday's revelation
that its profit forecast was overestimated by GBP250 million
stemming from an accounting error. A loss of 17% would be the
biggest weekly fall since January 2012.
Advancers in London trade included miners Fresnillo PLC and
Randgold Resources PLC , up 2.5% and 1.7%, respectively.
Off the FTSE 100, De La Rue PLC shares stumbled 25% after the
bank-note printer -- whose customers include the Bank of England --
issued a profit warning for the year, as trading conditions "have
deteriorated".
For the week, the FTSE 100 is line for a 3% drop. Stocks on
Thursday were in part hurt after BOE Governor Mark Carney said the
time for an interest-rate hike is moving closer. Such a move could
come as early as next year, economists have said.
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