FX.co ★ FTSE 100 Falls Led by Standard Chartered

The FTSE 100 experienced a setback on Friday, underperforming its European counterparts following Thursday's record high. Standard Chartered plummeted by over 7%, placing it at the index's lowest point, after US Republican Elise Stefanik called on Florida's Attorney General, Pam Bondi, to probe the bank over allegations of “illicit payments to known terrorists,” while also criticizing New York's Attorney General, Letitia James, for lack of action. Conversely, mining companies such as Anglo American (+2%), Glencore (+1.8%), and Antofagasta (+1.2%), along with oil giant BP (+2%), recorded gains. In business developments, AB Foods announced its acquisition of Hovis from Endless, a strategic move aimed at merging it with Kingsmill under the Allied Bakeries umbrella to enhance scale, reduce costs, and foster innovation within their bread product offerings. Globally, attention turned towards an anticipated meeting between US President Donald Trump and Russian President Vladimir Putin. The UK index marked its second week of consecutive gains.