UK’s FTSE 100 opened lower on Friday, with mining firms down and WPP falling after reducing its full-year outlook, and was on track to post its first weekly loss in four.
By 0713 GMT, the blue-chip FTSE 100 fell 0.1%, while the more domestically-focussed FTSE 250 midcap index was flat.
WPP slipped 5.7% after the world’s biggest advertising group downgraded its full-year like-for-like growth forecast to 1.5%-3.0% from 3%-5%.
The broader media index was down 1.0%. Industrial metal miners lost 0.7% as copper prices traded in a tight range.
UK’s FTSE 100 flat at open; Pearson shines
The internationally-focussed FTSE 100 was headed for weekly losses as stocks were rattled this week from downbeat earnings and a surprise US credit rating cut.
Capita slumped 8.3% after the outsourcing firm said it expected net exceptional costs of up to 20-25 million pounds ($31.8 million) related to the cyber incident in March but the group retained its full-year earnings outlook.