London’s financial markets were lower on Friday as they were dragged down by weak commodity firms after a slip in metal prices.
Fresnillo and Antofagasta both dropped due to an impact from falling copper prices.
Losses were pared back slightly in the afternoon session due to weakness in the value of the pound after strong US jobs data but it was not enough to return the main indexes to positive territory.
The FTSE 100 finished 39.97 points, or 0.48%, lower to end the day at 8,245.37.
Elsewhere, in Europe the German Dax index was down 0.52% at the close and the Cac 40 in France ended 0.48% lower.
Sentiment on the equity markets was also partly impacted by a jump in US jobs last month, surpassing expectations and causing many economists to reduce their forecasts over how soon the Federal Reserve will reduce interest rates amid concerns there is still inflationary pressure in the labour market.
Axel Rudolph, senior market analyst at IG, said: “Much stronger-than-expected US Non-Farm Payrolls, higher hourly earnings and unemployment rate pared back rate cut expectations and initially pushed stock indices lower before they regained some lost ground ahead of the weekend.”
Sterling’s recent rally came to an abrupt end as a result, after the US data pushed the value of the dollar higher.
The pound was down 0.52% at 1.272 US dollars and was up 0.26% at 1.177 euro at market close in London.
In company news, housebuilder Bellway inched lower on Friday despite it saying falling inflation and improving consumer confidence helped push up its sales this spring.
The FTSE 250 firm said the net private reservation rate, the number of people putting their names down for a new home, at its active outlets had risen year on year.
Bellway shares finished the day down 0.65% at 2,764p after sentiment waned late in the session.
Read MoreSponsoredTennent’s and Magners maker C&C Group left a sour taste for investors after it revealed its boss Patrick McMahon has stepped down after just one year at the helm.
It came after C&C said it had found failures in the company’s accounting and that opportunities had been missed to spot and address issues.
Shares in the drinks firm fell by 7.57% to 156.4p.
Saga was among the day’s notable fallers after the retirement and cruises specialist was downgraded by analysts at Peel Hunt.
The brokerage cut its target price for the stock as it cautioned it is waiting for “meaningful strategic progress” in order to address Saga’s debts. Shares in the company fell 8.42% to 124p.
The price of oil swung back after hitting a four-month-low earlier this week, as the US labour market data provided optimism that energy demand could be robust.
A barrel of Brent crude oil was up by 0.22% to 78.46 US dollars as markets were closing in London.
The biggest risers on the FTSE 100 were Compass Group, up 38p to 2,240p, Pearson, up 15.4p to 961.8p, Diploma, up 50p to 4,210p, Whitbread, up 31p to 3,024p, and IMI, up 16p to 1,856p.
The biggest fallers on the FTSE 100 were Fresnillo, down 34p to 559p, Prudential, down 30.6p to 731.6p, Intermediate Capital, down 86p to 2,230p, Persimmon, down 49.5p to 1,441.5p, and Antofagasta, down 69p to 2,145p.
