FTSE 100 Falls on Friday

The FTSE 100 traded 0.3% lower on Friday, tracking a broader decline in European equities fueled by retreating oil prices and a US technology selloff. Oil prices weakened on growing optimism surrounding a potential US Iran peace deal and restored shipping traffic through the Strait of Hormuz, directly hitting energy heavyweights BP and Shell, which dropped 1% and 0.7% respectively. Globally, market sentiment soured following a slide in Apple shares and reports that OpenAI might delay its initial public offering. This broader risk off environment dragged down banks like HSBC by over 1%, pharmaceutical firms AstraZeneca (-0.5%) and GSK (-1.2%), and aerospace manufacturing giants Rolls Royce (-0.5%) and BAE Systems (-0.5%). Mining majors Rio Tinto was down 0.2% and Glencore slid over 1%. Defying the downturn, consumer staples Unilever rose 0.5% and British American Tobacco gained 1.3%. Despite Friday’s loss, the UK index is up more than 1% so far this week.

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