FTSE 100 Edges Down, Set for 2nd Week of Gains

The FTSE 100 traded slightly lower on Friday, lagging other European markets as it failed to fully participate in a technology-led rebound following supportive comments from Federal Reserve Chair Kevin Warsh. Pharmaceutical shares weakened, with AstraZeneca falling 1.4% and GSK losing 1%. Mining stocks also came under pressure, as Rio Tinto declined by more than 1%. Banks were among the biggest drags, with Barclays down 0.6%, Lloyds Banking Group falling 2.5% and NatWest dropping 2%. Ithaca Energy slipped more than 2% after announcing that chief executive Luciano Vasques plans to retire by the end of March 2027. Losses were partly offset by gains in defence and consumer stocks. Rolls-Royce advanced 0.6%, BAE Systems rose 0.9% and British American Tobacco added 0.7%. Despite Friday’s subdued performance, the FTSE 100 remained on track for a weekly gain of around 2.5%, following last week’s 0.9% advance.