FX.co ★ UK Stocks Trade Lower on Friday

The FTSE 100 experienced a downturn on Friday as global trade tensions reignited in anticipation of a crucial tariff deadline. US President Donald Trump announced that his administration would begin notifying trading partners about unilateral tariffs, slated to take effect on August 1, with rates from 10% up to 70%. The cutoff date to negotiate trade deals to avert these tariffs is July 9, raising market apprehensions once again. The index was dragged down by homebuilders after MJ Gleeson issued its second profit warning within a month, citing weak demand, stagnant prices, and planning delays. As a result, shares of Barratt Developments, Redrow, Berkeley Group, Persimmon, and Taylor Wimpey declined by between 1.5% and 2.5%. The mining sector was also affected, with Antofagasta, Anglo American, and Glencore facing decreases due to dropping copper prices. Additionally, Diageo shares dipped as European spirits makers came under pressure amid reports that China is planning to impose anti-dumping duties on EU brandy imports.