FTSE 100 Set to End Week Lower

The FTSE 100 traded slightly lower on Friday, extending the previous session’s 0.3% decline and heading for a weekly loss of more than 1.5%. Rolls-Royce shares fell around 2.5% as the company reportedly neared a deal for up to £200 million in UK government subsidies to develop a new short-haul aircraft engine. AstraZeneca dropped over 1%, while GSK declined more than 0.5%. In contrast, Shell and BP gained 1.2% and 1.8%, respectively, as Brent crude headed for a third consecutive weekly advance amid escalating attacks on Saudi Arabia and concerns over potential supply disruptions. Meanwhile, UK consumer confidence deteriorated sharply, with the GfK index falling 11 points to -24, marking its steepest decline since the pandemic. Retail sales also disappointed in September, falling 0.4% including fuel and 0.7% excluding it month-on-month, both worse than expected. However, upward revisions to August’s figures partly offset the latest weakness.