FX.co ★ FTSE Moves Further Away from Record High

The FTSE 100 saw a downturn on Friday, building on losses from its record peak of 9,549 reached on October 8, as declines in mining and energy sectors exerted pressure on the index. Precious metals miners were particularly hit hard, with Endeavour Mining decreasing by 3.7% and Fresnillo falling over 3.5%, after gold prices plateaued following recent increases. Rio Tinto and Anglo American each experienced a drop of about 1%, while Glencore and Antofagasta saw smaller declines of 0.5% due to the retreat in copper prices. Major energy corporations, Shell (-0.6%) and BP (-0.3%), also mirrored the downward trend in oil. Additionally, the index faced challenges from influential multinational companies like AstraZeneca (-0.8%) and HSBC (-0.5%), as the weakening dollar took its toll. Nevertheless, despite the dip on Friday, the FTSE 100 is slightly up for the week and is on track to secure its third consecutive weekly advancement.