FTSE 100 Falls for Fifth Session as Miners and Pharma Weigh
The FTSE 100 trades slightly lower on Friday, extending losses for a fifth straight session as weaker mining and pharmaceutical shares outweigh firmer energy stocks; the index is down around 1.4% for the week.
The FTSE 100 traded slightly lower on Friday, extending its losses for a fifth consecutive session, as weakness across mining and pharmaceutical stocks weighed on the index.
Lower industrial metal prices pressured miners, with Antofagasta falling more than 4%, while Glencore, Endeavour and Fresnillo each declined by more than 2%.
Anglo American also dropped around 1.8%.
Pharmaceutical stocks were similarly weak, with AstraZeneca and GSK both losing more than 1%.
The declines came despite a relatively stronger performance from energy stocks, with Shell and BP trading slightly higher as oil prices remained supported.
Aviva also edged up after the insurer reported a 24% increase in first-half profit compared with the previous year.
The company said it remained on track to meet its three-year group targets, providing some support to its shares.
For the week, the UK index was down around 1.4%.