The FTSE 100 Index Closes 0.40% Lower

The FTSE 100 Index dropped 35 points or 0.34 percent on Friday to close at 10364 points. Losses were led by Antofagasta (-6.16%), Fresnillo (-5.36%) and Unite Group (-4.23%). Offsetting the fall, top gainers were BP (2.08%), Relx (1.43%) and Informa (1.40%).

The FTSE 100 fell 0.4% on Friday as oil prices remained volatile amid mixed signals surrounding US-Iran negotiations and renewed tensions between Israel and Lebanon. Mining stocks were among the biggest drags, with Rio Tinto down more than 2%, Glencore falling 1.5%, Anglo American declining 2.5% and Antofagasta dropping 3.2%. Precious metal miners also came under pressure, with Fresnillo and Endeavour falling 5.4% and 3.5% respectively. Banks, Unilever and BAT also traded lower. In contrast, energy stocks gained, with Shell and BP rising around 1% and 2%. Pharmaceutical and defence stocks also advanced. Greater Manchester mayor Andy Burnham won the closely watched Makerfield by-election with 54.8% of the vote, strengthening his position as a potential challenger to Prime Minister Keir Starmer. UK data showed public sector borrowing reached £23.3 billion in May, above expectations, while retail sales recovered 1.2%, beating forecasts. The FTSE 100 finished the week down more than 1%.

The FTSE 100 edged up on Friday, with AstraZeneca rising around 1.6%, GSK up 0.9% and Hikma Pharmaceuticals advancing 1.4%. Defence stocks also performed well, with BAE Systems up 0.5%, Babcock International gaining nearly 2%, and Rolls-Royce edging higher. Oil majors BP and Shell added 1.5% and 0.7% respectively as crude prices recovered. In contrast, banks and miners weighed on the index, with Lloyds Banking down 1.8%, Barclays and NatWest falling between 0.7% and 0.9%, and HSBC and Standard Chartered also lower. Rio Tinto, Glencore, Anglo American and Antofagasta declined between 0.3% and 1.1%. Greater Manchester mayor Andy Burnham won the closely watched Makerfield by-election with 54.8% of the vote, bolstering his position as a potential challenger to Prime Minister Keir Starmer. UK public sector borrowing hit £23.3 billion in May, above forecasts, while retail sales rebounded 1.2%, beating expectations. Despite Friday’s gains, the FTSE 100 ended the week down more than 0.5%.