U.K. stocks erased an earlier advance to decline as a rally in mining companies failed to offset a slump in grocers.
J Sainsbury Plc and William Morrison Supermarkets Plc fell more than 1.5 per cent after Business Secretary Vince Cable put measures to Parliament that would see supermarket chains face fines of as much as 1 per cent of their U.K. sales if they treat their suppliers badly.
BT Group Plc fell 2.2 per cent after reporting third-quarter earnings that were in line with analysts’ estimates. The U.K.’s largest landline carrier was up 6.7 per cent this month through Thursday's close.
Anglo American Plc and BHP Billiton Plc climbed more than 1 per cent, tracking a European index of mining stocks higher.
The FTSE 100 Index fell 38.25 points, or 0.6 per cent, to 6,772.35 at 9:29 a.m. in London on Friday, after earlier climbing as much as 0.5 per cent.
The benchmark gauge reached a four-month high on Jan. 26.
The broader FTSE All-Share Index fell 0.4 per cent, while Ireland’s ISEQ Index advanced 0.4 per cent.
News by Bloomberg, edited by ESM
