As a end result, main excessive avenue corporations reminiscent of JD Sports , Frasers and M&S all closed decrease.
London’s prime flight moved 0.65%, or 47.78 factors, decrease to complete at 7,262.43.
The important indexes throughout Europe had been within the crimson on Friday as they got here underneath strain from worries over the Chinese economic system and better bond yields.
Germany’s Dax index was 0.65% decrease for the day and the Cac 40 closed down 0.39%.
Michael Hewson, chief market analyst at CMC Markets UK, stated: “It’s been another day of losses for European markets, with the FTSE 100 closing lower for the sixth day in a row and matching its worst losing streak since October last year, as well as revisiting its March lows.
“The Dax has also had a poor week as it looks to close in on its July lows.
“This week’s market weakness has been primarily driven by Asia markets, with the Hang Seng finishing the week down 5.9% and closing in bear market territory, as China’s Evergrande filed for bankruptcy protection in a US court overnight.”
Across the Atlantic, the US markets took their cues from weak point in Europe and Asia to drop decrease on the opening bell.
Meanwhile, sterling dipped barely towards the important thing currencies after economists had been left unimpressed by the decline in retail gross sales and what it may imply for spending throughout the UK economic system.
The pound was down 0.02% to 1.273 US {dollars} and was 0.04% decrease at 1.171 euros at market shut in London .
In firm news, shares in Everyman Media had been flat at 60p after the upmarket cinema chain revealed decrease revenues and earnings for the primary half of 2023.
In the six months to the tip of June, income fell by 5.9%, whereas earnings dropped from £7.5 million to £5.8 million, though the agency cheered a robust July on the again of hype across the Barbie and Oppenheimer releases.
Shares in RS Group had been firmly decrease on Friday after brokers at UBS minimize their forecasts and downgraded the inventory.
Analysts for the Swiss financial institution stated they “now expect a bigger profit unwind” on the electronics agency as a consequence of considerations over weakening markets.
Shares fell by 25.4p to 696.6p consequently through the buying and selling session.
The value of oil slipped once more barely to set itself up for a primary weekly decline after seven consecutive weeks of features.
A barrel of Brent crude oil fell by 0.32% to 84.09 US {dollars} on the time markets had been closing in London.
The greatest risers on the FTSE 100 had been British American Tobacco, up 38p at 2,525p, Tesco, up 3.2p at 249.7p, WPP, up 6.8p at 744.6p, BAE Systems, up 7.6p at 963.4p, and Sage Group, up 5p at 943.4p.
The greatest fallers on the FTSE 100 had been Airtel Africa, down 5p at 108.7p, RS Group, down 25.4p at 696.6p, Antofagasta, down 47p at 1,375.5, Prudential, down 31.2p at 947p, and JD Sports, down 3.7p at 149.7p.
