FX.co ★ FTSE 100 Set for 2% Weekly Drop

The FTSE 100 hovered around the flatline on Friday, holding near its lowest level since July 21 and heading for a weekly loss of more than 2%, its sharpest decline since April. Major index constituents including HSBC, Unilever and Rolls-Royce were among the biggest drags, while Shell and BP outperformed, buoyed by higher oil prices. UK equities found some support from stronger-than-expected economic data: GDP grew 0.4% in July after a 0.3% expansion in June. The increase far exceeded economists’ forecasts for zero growth and marked the third consecutive month in which the economy outpaced expectations, indicating the UK may prove more resilient than anticipated in the second half of 2026. Meanwhile, Brent crude slipped towards $105 a barrel but remained on track for a weekly gain of nearly 10%.