Morning Markets: FTSE retreats after Fed rate move

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The FTSE 100 opened more than 30 points lower Friday after the US Federal Reserve raised the rate it charges banks for emergency loans by a quarter percentage point to 0.75%.

London's blue-chip index recovered slightly and, shortly before 8.30am, was down almost 15 points, or 0.28%, to 5,310.33. The Fed's move raised expectations an increase in its main policy rate could follow sooner than expected. Miners retreated after a strong day Thursday following a hike in metal prices. Fresnillo, Anglo American, Kazakhmys and Xstrata were all approaching a 2% loss. Home produce manufacturer Unilever advanced 15p, or 0.79%, to £19.11 while British American Tobacco climbed 0.67% to £21.84. Asian shares were mostly lower Friday after the Fed move, with Japan's N...

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