British stocks fell on Friday as Carillion shares plummeted after profit warning

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(qlmbusinessnews.com via uk.reuters.com — Fri, 17 Nov 2017) London, UK —

LONDON (Reuters) – British stocks fell back into the red on Friday, ending a short-lived recovery rally as takeover interest boosted Sky and construction firm Carillion plummeted after warning it would breach debt covenants.

The FTSE 100 .FTSE was set for its second week of losses as a worldwide sell-off took the shine off risky assets, and Thursday’s bounce proved to have little staying power.

The index was down 0.3 percent by 0900 GMT, and on track for a 0.9 percent loss on the week, tracking weakness in European markets. Mid-caps .FTMC fell 0.4 percent, also set for a second week of losses.

Corporate news drove the most attention-grabbing moves, from Sky on the blue-chip index to Carillion among small-caps.

Pay-TV firm Sky (SKYB.L) shot up 3.1 percent to the top of the FTSE after sources said Comcast Corp (CMCSA.O) and Verizon Communications (VZ.N) had expressed interest in acquiring part of Rupert Murdoch’s Twenty-First Century Fox Inc’s (FOXA.O) assets.