UK’s FTSE 100 falls as energy stocks weigh; Man Group lifts midcaps

UK’s blue-chip FTSE 100 fell on Friday dragged down by energy- linked stocks, while fund manager Man Group led mid-cap shares higher after after announcing a share buy-back programme.

The blue-chip FTSE 100 fell 0.1% by 0853 GMT, while the domestically focused FTSE 250 mid-cap index added 0.14%. However, both the indices are set to end the week lower.

The investment banking and brokerage services index rose 0.7%, supported by a near 5% jump in Man Group after it announced a share buyback programme of up to $125 million.

The biggest drag on the FTSE 100 were energy firms, which fell 0.9% on subdued crude prices.

Industrial miners, on the other hand, gained 1.3%, as the easing of COVID-10 restrictions in China boosted hopes that demand would recover in the world’s second-largest economy. [MET/L]

Anglo American (LON:AAL) Plc rose 1.4% after the copper miner said it expects production to rise over the next two years.