The blue-chip index was up 0.2% at 1133 GMT, on track to post a second straight weekly gain, also helped by the Bank of England signalling on Thursday that interest rates could fall if the drop in inflation is sustained
International News via Reuters:
London’s FTSE 100 ticked higher on Friday, as gains in heavyweight lenders offset another slide in data analytics firm RELX, which joined a global selloff this week on fears over disruption from advancements in artificial intelligence.
The blue-chip index was up 0.2% at 1133 GMT, on track to post a second straight weekly gain, also helped by the Bank of England signalling on Thursday that interest rates could fall if the drop in inflation is sustained.
The domestically focused mid-cap FTSE 250 was little changed and was set to fall for a second straight week.
Business information group RELX slid 3.5%, falling for the fourth straight week. London Stock Exchange Group rose 1.2% after sharp losses earlier this week.
But financial stocks, heavily weighted on the index, were up; banks Barclays, NatWest Group and Lloyds rose between 1% and 1.6%.
Across the pond, megacap tech stocks stumbled after Amazon.com’s 50% boost in spending plans rattled sentiment.
Domestic political uncertainty also weighed, as Prime Minister Keir Starmer faced his most serious political threat yet after emails revealed the depth of UK ambassador Peter Mandelson’s ties to Jeffrey Epstein.
The Eurasia Group, a political risk consultancy, put the probability of Starmer’s removal this year at 80%, up from 65%, saying the controversy had dealt “irreparable damage.”
On the flip side, London-listed miners rose; Fresnillo was up 1.8%, among the top gainers of the benchmark index. [GOL/].
Separately, British house prices rose by the most in more than a year in January, mortgage lender Halifax said, adding to signs of a recovery in the housing market.
Next rose 0.5% after the fashion retailer said it has purchased British footwear brand Russell & Bromley through an insolvency process, paying 2.5 million pounds ($3.4 million).
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Sahal Muhammed
