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FTSE 100 Tumbles As Banks, Miners Drag

U.K. stocks fell on Friday, dragged down by financials as investors fretted about trade fiction, rising interest rates and political risks.

HSBC Holdings dropped about 1 percent and Barclays fell 1.5 percent on worries over the effects of reduced ECB bond buying.

The benchmark FTSE 100 was down 62 points or 0.80 percent at 7,642 in late opening deals after closing 0.1 percent lower on Thursday.

Mining and energy stocks also moved lower. Antofagasta tumbled 3.5 percent, Anglo American lost over 2 percent, Glencore shed 2.5 percent and Tullow Oil dropped 1.6 percent.

Standard Life Aberdeen slumped 4.2 percent after Lloyds Banking sold its remaining stake in the asset manager.

Marks & Spencer's shares shed 0.8 percent. The clothing and food retailer said it will not pay its directors' bonuses this year after a plunge in annual profits.

Whitbread gave up 0.7 percent. Reuters has reported that the company is open to selling its Costa coffee chain or Premier Inn hotels and abandoning its original plan to spin off coffee chain.

BT Group was marginally higher on news that its Chief Executive Gavin Patterson will be stepping down later in the year.

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