FX.co ★ FTSE 100 Falls on Friday, Set for Weekly Decline

The FTSE 100 edged lower on Friday as investors reacted to a global selloff in semiconductor stocks triggered by weaker-than-expected earnings from Broadcom. However, the UK benchmark was relatively shielded from the worst of the fallout given its limited exposure to the technology sector.

Losses were driven instead by banks and miners. HSBC Holdings slipped around 1.3%, while Lloyds Banking Group, Barclays, NatWest and Standard Chartered declined between 0.5% and 2.3%. The mining sector also came under pressure, with Rio Tinto down about 2%, Anglo American and Antofagasta both falling 2.1%, Glencore losing 1.5% and Fresnillo retreating 2.2%.

On the data front, Halifax reported that UK house prices fell 0.1% in May, mirroring the decline seen in April, and bringing the average property price to £298,806. Annual price growth for first-time buyers slowed to 0.3%, although Halifax noted that lenders are showing greater flexibility and overall housing market activity remains relatively stable.

The FTSE 100 is down 0.6% so far this week.