LONDON: UK shares edged lower on Friday as investors avoided big bets on concerns over the global economic fallout exacerbating trade tensions already heightened by tariffs.
The blue-chip FTSE 100 was flat, but closed the week 0.2% higher, the second straight week of gains.
The midcap FTSE 250 index was down 0.3%, but ended flat for the week after sixth straight weeks of losses.
Further hitting sentiment, the closely watched US Personal Consumption Expenditures price index rose by the most in 13 months, fuelling concerns that US President Donald Trump’s tariff policies would further stoke inflation.
The focus is now on fresh tariffs the US is due to announce on April 2. Trump indicated the measures may not be the like-for-like levies he has been pledging to impose.
Aerospace and defence stocks were among the top sectoral decliners, down 2.5%.
Rolls Royce, BAE Systems and Melrose Industries were the top decliners on the FTSE 100, falling between 1.3% and 4.6%.
Industrial metal miners fell 2.2% as copper prices fell on muted risk appetite ahead of next week’s deadline for broad US reciprocal tariffs.
Among individual stocks, WH Smith slipped 4.7% after the retailer agreed to sell its UK high street business to Modella Capital for 76 million pounds ($98 million).
On the flip side, SSE rose 3.8% after the power generator and network operator named company veteran Martin Pibworth as its chief executive.
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