The FTSE 100 Index Opens 0.31% Lower

The FTSE 100 Index is dropping 33 points. Leading the losses are Airtel Africa (-4.94%), Coca-Cola (-4.08%) and BT (-3.12%). Top gainers were Fresnillo (2.63%), Endeavour (2.40%) and Antofagasta (1.76%).

London’s FTSE 100 fell 0.3% to 10,785 points on Friday, retreating after two consecutive sessions of gains as investors weighed recent decisions from major central banks and falling oil prices. The Bank of England held rates steady on Thursday but warned that a prolonged Middle East conflict could prompt tighter policy, while the Federal Reserve and Bank of Japan raised rates this week and signaled scope for further tightening this year. Meanwhile, oil prices extended their decline for a third session as Saudi Arabia worked to restore flows through its East-West pipeline, while US President Donald Trump is due to meet Gulf leaders next week. In domestic data, UK retail sales rose 0.5% in August, defying expectations for a 0.2% decline and rebounding from July’s fall, with department stores particularly strong as retailers resolved stock availability issues.

The FTSE 100 Index went up by 129 points or 1.20 percent on Thursday to close at 10817 points. The rise was led by Endeavour (3.66%), SSE (3.64%) and Anglo American (3.58%).