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Wall Street stocks closed lower on Friday as another week in what has been a volatile month for stocks drew to a close.
Fears of supermarket shortages ahead of Christmas grew on Friday after truck drivers and warehouse workers at four Tesco distribution centres rejected the company’s latest pay offer.
European shares finished the week lower as a weak opening on Wall Street, slump in mining stocks and rising euro zone inflation hit sentiment.
Stocks surrendered early gains to finish another week firmly in the red ahead of the quarterly expiry of financial derivatives contracts for individual stocks and indices in the States.
Analysts at Jefferies reiterated their 'buy' recommendation for shares of Anglo American following investor meetings with the miner's boss, Mark Cutifani, its finance director, Stephen Pearce, and its head of investor relations, Paul Galloway.
Stocks are holding onto early gains despite the release of data showing a fourth consecutive monthly drop in UK retail sales - their worst stretch since 1996 - which led some economists to question just how soon the Bank of England might be ready to raise interest rates.
Wall Street stocks were trading lower early on Friday as another week in what has been a volatile month for stocks gets set to draw to a close.
Consumer price inflation in the euro area accelerated in August on the back of dearer energy and base effects, potentially piling on the pressure on the European Central Bank.