The FTSE 100 opened slightly lower on Friday, with the index slipping 13.25 points to 10,158.51, reflecting pressure from falling metal prices and a cautious global risk tone, even as select corporate updates and financial stocks offered support.
Antofagasta fell 5.49% to £3,578, Endeavour Mining declined 3.05% to £4,380, Fresnillo dropped 3.18% to £3,776, and Anglo American backed 3.14% to £3,390 amid heavy selling in metals.
Rio Tinto also weakened, down 2.44% to £6,682, tracking declines in gold, silver, and copper after the metals touched record highs.
Gold prices fell sharply, down around 5% to $5,166 an ounce, though the metal remains up roughly 20% for the month.
Lloyds Banking Group rose 1.38% to £106.75 following its latest results, while NatWest Group added 1.36% to £662.40.
Barclays also advanced, gaining 1.13% to £485, helping to limit the broader index’s downside.
Investors appeared selective, favoring financials amid expectations that interest rates may remain supportive for bank margins in the near term.
Healthcare heavyweight Astrazeneca also declined 0.52% to £13,390 after announcing a major collaboration with China’s CSPC Pharmaceuticals focused on obesity and type 2 diabetes treatments.
While the deal strengthens AstraZeneca’s long-term pipeline, the stock saw mild near-term profit-taking following the announcement.
Elsewhere, Diageo rose 1.50% to £1,662.50, and Experian gained 2.30% to £2,757.
Ashtead Group also moved higher, up 1.82% to £4,811, supported by resilience in equipment rental demand.
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In the US, the Nasdaq Composite fell 0.7% while the Dow Jones Industrial Average rose 0.1% and the S&P 500 index dropped 0.1%.
Apple reported better-than-expected quarterly revenue of $143.8 billion, driven by strong iPhone sales and a recovery in China, though its shares were only marginally higher as investors remained cautious about the company’s AI strategy.
Meta Platforms jumped 10% following Wednesday night’s results but Microsoft lost 10% of its value and Tesla also weakened on quarterly figures.
While Brent crude was down 1.8% to $68.32 a barrel, reflecting easing supply concerns and softer demand expectations.
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