FX.co ★ FTSE 100 Falls on Friday

The FTSE 100 experienced a decline on Friday, building on a 0.4% decrease from the previous trading session, primarily due to downturns in major stocks and mining companies. Weaker economic indicators from China negatively impacted commodity stocks, while IAG nosedived more than 7% following the airline's report of diminished demand on its North Atlantic routes. Analysts pointed out that about half of the revenue decline was attributable to currency fluctuations, yet it remains a significant concern. Rightmove witnessed a nearly 18% plunge, marking its most significant drop ever, after announcing new investment plans expected to affect profit margins. Although JPMorgan and RBC believe the strategy is sensible for the long term, investor doubts persist. Meanwhile, in the FTSE 250, ITV saw a nearly 20% surge after confirming discussions to sell its broadcasting and streaming division to Comcast. ITV has long been viewed as a potential acquisition target, as it faces competition from much larger streaming titans such as Netflix, Amazon, Apple, and Disney, positioning it as a smaller player in a sector ruled by financially robust competitors.