London’s FTSE 100 slipped into negative territory on Friday, edging down 0.3% to below 10,800 as investors digested a US jobs report that reinforced expectations of further policy tightening. In the UK, gilt yields remained elevated, with long-dated yields recently hitting multi-decade highs. Bank of England Chief Economist Huw Pill noted that higher rates now could reduce the risk of more forceful tightening later on, as policymakers confront inflation pressures linked to the war in Iran.
Mining stocks were among the weakest performers, with Anglo American, Rio Tinto, Glencore and Antofagasta all losing as much as 1.8%. Experian also retreated, dropping 5.1% after FHFA Director Bill Pulte accused credit agencies of overcharging consumers and signalled potential reforms aimed at increasing competition.
On the upside, Computacenter rose 3.3% after UBS raised its price target, while Vodafone advanced 2.6% after Goldman Sachs upgraded the stock to ‘buy’ from ‘sell’ and lifted its price target to 155p from 85p. For the week, the FTSE 100 was on track for a 0.2% decline.
