Reuters: Hot Stocks: UK's FTSE edges down, heads for monthly fall

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Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UK's FTSE edges down, heads for monthly fall Jun 28th 2013, 10:43 Fri Jun 28, 2013 6:43am EDT * FTSE 100 down 0.1 pct, on course for 1st monthly fall in 13 * Mining stocks hit by fresh fall in gold price By Sudip Kar-Gupta LONDON, June 28 (Reuters) - Britain's benchmark equity index edged lower on Friday, putting it on track for its first monthly fall in over a year as uncertainty over future central bank stimulus dented sentiment. The blue-chip FTSE 100 index, which raced to a 13-year high of 6,875.62 points in late May, was down by 0.1 percent, or 5.51 points, at 6,237.89 points in mid-session trade. This year's global equity rally has come to a halt over the last month due to increasingly clear signs that the U.S. Federal Reserve will scale back the economic stimulus measures that have helped drive stock markets higher. The FTSE 100 is up by around 6 percent since the start of 2013, but many traders have cashed in profits. "A few days of gains doesn't really remove the feeling that the optimistic outlook which drove the first-half rally is now permanently broken," said IG market analyst Chris Beauchamp. "As the third quarter dawns, it is likely that fears about Fed tapering will resume their place at the forefront of investors' minds." The FTSE 100 has enjoyed its longest run of monthly gains since the mid-1990s but that was set to end on Friday with a first loss in 13 months. Mining stocks were among the worst performers as the sector was hit by a fresh fall in the price of gold, with Fresnillo falling 2.6 percent to top the FTSE 100 loserboard. (additional reporting by Toni Vorobyova; Editing by John Stonestreet) Link this Share this Digg this Email Reprints

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