By Alexis Xydias
Jan. 12 (Bloomberg) -- U.K. stocks fell for a fourth day, led by Man Group Plc, the biggest publicly traded hedge fund manager, and Antofagasta Plc after analysts advised reducing holdings in the companies.
The benchmark FTSE 100 Index dropped 0.6 percent to 4,423.82 as of 11:48 a.m. in London.
Man Group lost 6.9 percent to 227 pence, the steepest loss in the U.K. benchmark index. The stock was cut to “sell” from “hold” by Citigroup Inc.
Investors may pull about $1.7 billion from Man’s largest fund in the quarter through December as they are blocked from extracting money from funds run by other companies, analysts led by Haley Tam wrote in a note to clients today.
Antofagasta slipped 6.7 percent to 431.25 pence. The copper miner controlled by Chile’s Luksic family was cut to “hold” from “buy” by Royal Bank of Scotland Group Plc after the shares climbed 69 percent since mid-October.
To contact the reporter on this story: Alexis Xydias in London at axydias@bloomberg.net
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