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FTSE 100 Falls On Rate Hike Worries

U.K. stocks edged lower on Monday after Bank of England Governor Andrew sent a fresh signal that the central bank is gearing up to raise interest rates for the first time since the onset of the coronavirus crisis.

The benchmark FTSE 100 slipped 16 points, or 0.2 percent, to 7,218 after gaining 0.4 percent on Friday.

Antofagasta rose about half a percent and Glencore advanced 1.5 percent as metal prices rallied.

BP Plc and Royal Dutch Shell were moving lower despite crude futures climbing past $85 a barrel.

Gaming company Playtech soared 55 percent after it agreed a 2.1-billion-pound takeover offer by Australia's Aristocrat Leisure.

AstraZeneca slid half a percent. The drug maker has recommended shareholders reject a mini-tender offer from TRC Capital Investment Corporation for up to two million American Depositary shares.

National Grid gained about 1 percent. Ahead of the release of its first-half results on 18 November, the utility said had continued to perform in line with expectations.

Retailer Tesco rose 0.6 percent after announcing it has started a program to buy back shares with a value of up to £500 Mln.

Online retailer The Hut Group jumped 11 percent after confirming plans to overhaul its corporate governance.

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