FX.co ★ FTSE 100 Rises, Set for Weekly Drop

The FTSE 100 edged higher on Friday as financial markets showed signs of stabilising after a turbulent week, offering some relief following four consecutive sessions of losses. However, the UK blue-chip index still looked set to post a weekly decline of around 2%.

In the mid-cap FTSE 250, JD Wetherspoon shares gained more than 6% after the pub operator’s latest trading update. While full-year profit fell by more than analysts had anticipated, revenue slightly exceeded forecasts.

By contrast, IG Group was the weakest performer in the FTSE 100, slumping more than 20% after forecasting that annual revenue growth would reach only the mid-single-digit range. The online trading platform blamed less favourable market conditions for the softer revenue outlook. The warning also weighed on the wider sector, with shares in CMC Markets and Plus500 each dropping more than 7%.