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FTSE 100 Extends Losses On Rate Worries

U.K. shares fell on Friday to extend losses from the previous session as upbeat U.S. data and hawkish comments from Federal Reserve officials boosted expectations for inflation and continued rate hikes from the Federal Reserve in the coming months.

Concerns surrounding Italy and Brexit uncertainty also kept investors nervous ahead of the all-important U.S. jobs data due later in the day.

The benchmark FTSE 100 was down 46 points or 0.63 percent at 7,372 in late opening deals after losing 1.2 percent in the previous session.

The index remained on track for a weekly loss of more than 1.5 percent, marking its biggest weekly fall in a month.

Gold mining company Centamin slumped 11 percent after reporting a 25 percent fall in quarterly output and cutting its annual output target.

Royal Mail lost 2.5 percent after Citigroup cut its rating on the stock.

Intu Properties soared 28 percent on news that a consortium including British billionaire John Whittaker and Canada's Brookfield Asset Management is considering a bid for the real estate investment trust. The company, however, said it hasn't received any buyout offer.

On the data front, U.K. house prices dropped unexpectedly in September, data from the Lloyds bank subsidiary Halifax and IHS Markit showed.

House prices decreased 1.4 percent in September from August, confounding expectations for an increase of 0.2 percent. This was also much bigger than the 0.2 percent drop posted in August.

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