The FTSE 100 Index Closes 1.51% Lower

The FTSE 100 Index dropped 164 points or 1.51 percent on Friday to close at 10652 points. Losses were led by Airtel Africa (-11.27%), Coca-Cola (-7.94%) and Entain (-5.63%).

The FTSE 100 fell 1.5% on Friday, retreating after two consecutive sessions of gains, as investors weighed central-bank policy decisions and lower oil prices. Banks led the decline, with HSBC down more than 1.5%, while Barclays and Lloyds Banking Group each fell around 2.5%. Shell and BP dropped 0.9% and 1.1%, respectively, while Unilever lost around 0.5% and Rolls-Royce more than 2%. Mining stocks were also under pressure, with Rio Tinto down 1.7% and Glencore falling 4%. The Bank of England kept interest rates unchanged on Thursday but warned that a prolonged Middle East conflict could require tighter policy, while the Federal Reserve and Bank of Japan raised rates this week and indicated further tightening could follow. On the data front, UK retail sales rose 0.5% in August, beating expectations for a 0.2% decline. For the week, the UK index was little changed.

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%).