FTSE 100 Falls Amidst Israel-Iran Conflict
(RTTNews) - Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
Data released on Thursday that showed the British economy contracted by 0.3 percent month-on-month in April also weighed on sentiment. The first decline in six months was also the sharpest drop since October 2023.
FTSE 100 oscillated between 8,898.63 and 8,822.20 as compared with the previous day's closing level of 8,884.92.
The benchmark index of the London Stock Exchange is currently trading at 8,854.54, having slipped 0.34 percent on an overnight basis.
In the 100-scrip index, only 16 are trading in the overnight green zone. BAE Systems topped overnight gains with a surge of more than 3 percent. BP gained 2.7 percent followed by Shell that has added 1.84 percent. Endeavour mining also gained 1.8 percent.
International Consolidated Airlines Group plunged 4.6 percent followed by Easyjet that dropped 3.6 percent. Schroders and Informa, both erased more than 3 percent.
The GBP/USD pair has dropped 0.53 percent overnight to 1.3541. The sterling ranged between $1.3632 and $1.3522 in the day's trade. The EUR/GBP pair edged down to 0.8500. The GBP/JPY pair has also edged down to 195.17.
Bond yields in the U.K. hardened more than its European peers. Ten-year bond yields surged 1.14 percent to 4.5280 percent. The yields ranged between 4.5430 percent and 4.4590 percent over the course of the day. The same was 4.4770 percent a day earlier.
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