FX.co ★ FTSE 100 Resumes Fall

The FTSE 100 reversed earlier gains to close more than 0.6% lower on Friday, having opened the session over 0.5% higher. The pullback came as energy prices resumed their rally amid the ongoing conflict in the Middle East, now in its seventh day, with uncertainty surrounding Iran adding to market tension. Fears that surging crude oil and natural gas prices could ignite a renewed wave of global inflation are pressuring equity markets.

Financial stocks turned negative, with HSBC Holdings down more than 1% and Barclays off 0.8%. Among pharmaceuticals, AstraZeneca slipped nearly 1%, while GSK dropped 1.5%. Consumer staples were also weaker, with Unilever falling 1.3% and BAT losing 2.3%. Mining stocks declined as well, including Glencore, down 3.2%, and Anglo American, down 3.6%.

In contrast, energy majors benefited from the rise in oil prices: Shell gained 0.6% and BP advanced 1.1%.

For the week, the FTSE 100 is down more than 5%, its worst weekly performance since the market turbulence triggered by global tariff disputes last April. The decline ends a run of five consecutive weekly advances during which the index repeatedly notched record highs.