FX.co ★ FTSE 100 Falls on Friday

The FTSE 100 saw a slight decline of 0.2% on Friday, retreating after reaching a new record high on Thursday, largely influenced by a downturn in the commodities sector. The index experienced losses particularly among mining companies and oil giants due to a decrease in raw material prices following a period of strong performance. Leading mining firms such as Rio Tinto (-2.2%), Anglo American (-1.7%), Glencore (-1.6%), and Antofagasta (-1.5%) witnessed declines, in tandem with falling prices of metals including copper and tin, which had recently peaked. Producers of precious metals followed this downward trend, with Fresnillo dropping by 0.5% and Endeavour Mining by 1.2%, as gold and silver stabilized after their sharp upturn. Energy stocks further contributed to the index's decline, with Shell decreasing by 0.7% after a six-day winning streak ended, and BP slipping 0.6%. Despite this day's setback, the overarching trend remains positive, as the FTSE is still approximately 0.9% higher for the week, marking three consecutive weeks of overall gains.