FTSE 100 Live: Index Slides as Tech Weakness Deepens, Banks and Defensives Limit Losses

FTSE 100 extended its recent decline on Friday, mostly affected by weakness in global technology stocks. The index slipped 0.51% or 52.23 points, to trade around 10,257 after a sharper 0.9% fall in previous session. 

Software and Data Stocks Under Pressure

RELX dropped over 3% to £2,175 and extended losses as investors reassessed valuations amid growing concerns. Industry experts are concerned that artificial intelligence could disrupt traditional data and information service models.

London Stock Exchange Group declined 2.85% to £7,370, while Games Workshop slid 0.83% to £16,740. 

Spirax Group declined 0.96% to £7,215. Market participants noted that fears around AI-driven disruption have intensified this week. It prompted investors to cut exposure to premium-valued software stocks.

Among others, Miner Rio Tinto declined 1.26% to £6,740, while Anglo American backed 1.76% to £3,400.

Banks and Select Stocks Offer Support

Centrica rose 1.6% to £193.25, and benefited from strength in energy-related stocks. NatWest Group climbed 1.20% to £657.80, and Barclays advanced 1.07% to £471.45.

Lloyds Banking Group also gained 0.95% to £106.80, supported by expectations that higher-for-longer interest rates could continue to underpin margins.

Among others, International Consolidated Airlines Group gained 0.93% to £424.20, as easing fuel cost pressures and steady demand expectations improved sentiment.

Hikma Pharmaceuticals rose 1.10% to £1,569.

TSB Profits Increased Before Santander Takeover

Banking group TSB said annual profits rose in the latest financial year as the bank slashed costs ahead of its landmark takeover by Santander. 

TSB’s pre-tax profit hit £350.4 million in 2025, a 20% increase from the previous year but loans to customers dipped 0.2% to £36.3 billion in a “challenging lending market.”

Total income rose 3.6% to £1.2 billion, with the bank’s structural hedge as the driver. TSB’s net interest margin, a key measure of a bank’s profitability, climbed to 2.89% from 2.68%.

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Global Markets and Macro Backdrop

In the US, Nasdaq plunged 1.6%, Dow Jones fell 1.2%, and S&P 500 slipped 1.2%. Tech stocks had to bear the brunt of the selling as investors digested Alphabet’s massive AI investment plan.

Tokyo's Nikkei rose 0.8%, while Shanghai's SSE Composite is down 0.2%, and Hang Seng in Hong Kong is down 1.3%. Seoul's Kospi is 1.3% lower and ASX 200 in Sydney closed 2% lower. 

Meanwhile, commodity markets are still volatile as gold hovered near $4,870 an ounce and silver traded around $74.70, up sharply on the week.