LONDON: The UK’s FTSE 100 rounded off the week with losses on Friday, as renewed geopolitical uncertainty weighed on investor sentiment though mining stocks closed the week with robust gains.
The blue-chip FTSE 100? closed down 0.07 percent, breaking its three-week winning streak in which it had gained about 3.5 percent, its longest run since August.
The domestically-focused FTSE 250? retreated 0.2 percent from a more than four-year high hit on Thursday. It ended flat for the week.
US President Donald Trump’s tariff threats over Greenland last weekend weighed on investor sentiment this week. And although he backed away from the threats and ruled out acquiring the territory by force, investors remained uneasy about renewed geopolitical uncertainty.
Most sectors in the market ended lower on Friday, with banks the biggest weights.
However, commodity-linked sectors saw gains, with energy firms up 0.8 percent tracking higher oil prices.
The index of precious metal miners gained 2 percent after gold inched closer to USD5,000/oz, and silver crossed the USD100/oz mark as investors piled into safe-haven assets amid geopolitical turmoil.
The sector outperformed peers with an 11.3 percent gain this week, its biggest weekly rise since November.
“Gold ostensibly remains the preferred portfolio hedge amid ongoing geopolitical risk, keeping the bullish case intact,” said Laura Cooper, senior macro strategist at Nuveen.
“While near-term consolidation is possible given recent market moves, the balance of risks still tilts to the upside.” Among other stocks, C&C group hit a more than 16-year low after the Irish drinks producer cut its fiscal 2026 profit forecast, blaming weak confidence following November’s UK budget that altered buying habits and saddled demand.
Separately, official data showed British retail sales unexpectedly rose in December, helped by stronger online spending, supporting signs of a pickup in the economy.
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