The UK’s FTSE 100 closed lower but extended its winning streak to a fifth week on Friday, while investors assessed a mixed bag of corporate earnings and awaited updates on EU-U.S. trade talks.
The benchmark FTSE 100 closed 0.2% lower, but registered a weekly gain of 1.4%. The midcap FTSE 250 index also lost 0.2%, but was up 1% for the week.
A market relatively shielded from U.S. tariffs, positive corporate updates, optimism over a potential EU-U.S. trade agreement, and hopes of a Bank of England rate cut had boosted the blue-chip index to all-time highs in recent days.
Data showed British retail sales rose by 0.9% in June, a partial rebound from May’s 2.8% plunge which was the biggest fall since December 2023. However, the increase was smaller than the median forecast of 1.2% in a Reuters poll of economists.
A survey showed consumer confidence dipped this month ahead of possible tax increases later this year and households added to their savings.
Construction and materials stocks led the sectoral decline, falling 1.8%, dragged down by Marshalls, which tumbled 20.6%, on downbeat full-year adjusted pre-tax profit forecast.
Precious metal miners fell 1.3% and industrial miners lost 1%, weighed down by falling gold and copper prices, respectively.
In corporate updates, NatWest rose 3.5% after the lender said its profit increased by 18% in the first half and the company announced a new share buyback worth 750 million pounds ($1.01 billion).
Wizz Air jumped 11.5% after Barclays upgraded the budget carrier to “overweight”.
Close Brothers surged 4.9% after announcing the sale of its execution services and securities business, Winterflood, to Marex for 103.9 million pounds.
On the flip side, Rightmove fell 1.8% after warning it expects sales growth in the second half of 2025 to be lower than the first half’s 10%.
Meanwhile, the European Union and the United States could reach a framework deal on trade this weekend, EU officials and diplomats said.
British Prime Minister Keir Starmer will meet U.S. President Donald Trump on Monday to discuss U.S.-U.K. trade deal.
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