By Alexis Xydias
Oct. 2 (Bloomberg) -- U.K. stocks fell for a fourth session, the longest losing streak since April, amid concern a seven-month rally has outpaced the prospects for economic growth.
Eurasian Natural Resources Corp., a producer of steelmaking raw materials in Kazakhstan, and Kazakhmys Plc led declines among mining companies as metals pries dropped.
The FTSE 100 fell 41.92, or 0.8 percent, to 5,005.89 as of 8:42 a.m. in London, taking the loss this week to 1.4 percent. The FTSE All-Share Index slipped 0.9 percent today, while Ireland’s ISEQ Index dropped 1.5 percent.
The FTSE 100 has surged 43 percent since this year’s low on March 3 amid speculation the worst of a global slowdown is past. An index of U.K. manufacturing yesterday unexpectedly fell, while economists forecast a release today to show the U.S. jobless rate probably rose to a 26-year high in September.
ENRC, a producer of steelmaking raw materials in Kazakhstan, declined 2.6 percent to 811 pence. Kazakhmys, the Asian country’s biggest copper producer, lost 2.3 percent to 1,013
Copper for delivery in three months slid as much as 1.5 percent to $5,896 a metric ton in London, extending yesterday’s 2.8 percent drop. Nickel, lead, zinc and aluminum prices also fell.
To contact the reporters on this story: Alexis Xydias in London at axydias@bloomberg.net.
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