London’s blue-chip stocks fittingly ended Friday lower as the UK’s main index lost around 4% over the course of this week.
Although hardly the scary falls one might expect on Friday 13th, the FTSE100 lost around 60 points to 6,115.
Chris Beauchamp said: “Buyers seem to have clocked off early for the weekend,” while Connor Campbell added at Spreadex added “investors want a risk-free weekend”.
Commodities crashed after more negative Chinese economic data. Copper traded at six-year lows, crude was near six-and-a-half-year lows and iron ore dipped below US$48 a tonne.
Prices fell as China released weak credit data, sparking a 52-point fall in the Shanghai Composite Index and a 101-point loss on Japan's Nikkei 225 overnight.
Spreadex’s Campbell said: “with little on the horizon that could really bring any joy or, at the very least, help soften the commodity-based attrition the index is under, the FTSE could very well fall back under 6000 next week.”
Things weren’t much better elsewhere in Europe. The Dax dropped 75 points and the CAC-40 was 49 points adrift.
Over in the US it was a similar story, with the Dow Jones down more than 100 points, while the Nasdaq lost 36 points and the S&P500 eased 10.
On the corporate front, Auto Trader (LON:AUTO) thrilled investors with a maiden dividend after sales ramped up in the first half of the year. Shares rose 2.6% to 376p.
Elsewhere, Rolls-Royce (LON:RR.) took another pounding after warning on 2015 profits and giving a gloomy 2016 forecast. Shares reversed 23p to 513p.
In the small cap space, Fusionex International (LON:FXI) climbed some 22p to 365p as it announced it has teamed up with US heavyweight Dell in a new strategic partnership to roll-out ‘Big Data’ analytics in Asia.
CloudTag (LON:CTAG) rose 5.2% to 2.5p after chief executive Amit Ben-Haim said he is “pleased” with the quality of the first batch of wearable health and fitness devices ahead of the product launch next year.
The big gainer of the day was Japan Residential Investment Company (LON:JRIC) up 32.5% to 72p as Nikko III made a 72p per share offer for JRICvaluing the company at £152.6mln.
Conversely, DX Group (LON:DX.) plummeted 62% to 23p as it said profits for the year would be “significantly below” market hopes, as market conditions have deteriorated in the first half.
Alaska-focused 88 Energy (LON:88E) reported the re-start of drilling at its Icewine project after technical delays, boosting its shares by 2.4% to 0.6p.