The FTSE 100 Index Opens 0.18% Lower

The FTSE 100 traded slightly lower on Friday as investors reacted to a global selloff in semiconductor stocks following disappointing earnings from Broadcom, although the UK benchmark remained relatively insulated due to its limited exposure to the technology sector. The index was weighed down by declines in banks and mining shares. HSBC Holdings fell around 1.3%, while Lloyds Banking, Barclays, NatWest and Standard Chartered lost between 0.5% and 2.3%. Miners were also under pressure, with Rio Tinto down about 2%, Anglo American and Antofagasta falling 2.1% each, Glencore losing 1.5% and Fresnillo retreating 2.2%. On the data front, Halifax reported that UK house prices fell 0.1% in May after a similar decline in April, bringing the average property price to £298,806. Annual growth for first-time buyers slowed to 0.3%, although Halifax noted that lenders are becoming more flexible and housing market activity remains relatively stable. The UK index is down 0.6% so far this week.

The FTSE 100 Index is dropping 18 points. Leading the losses are Prudential (-2.26%), Halma (-2.09%) and Scottish Mortgage (-1.95%). Top gainers were J Sainsbury (2.10%), Smith & Nephew (1.52%) and Land Securities (1.36%).

The FTSE 100 Index went up by 14 points or 0.13 percent on Thursday to close at 10346 points. The rise was led by B&M European Value (6.19%), Relx (5.77%) and London Stock Exchange (5.38%). On the downside, the weakerst performers were Prudential (-7.34%), Standard Chartered (-3.18%) and Rio Tinto (-2.76%).