FTSE 100 Ends Week Down 1% as Geopolitics, Politics Weigh
FTSE books worst week in six as peace talks scrapped, political jitters hit cyclicalsBritish stocks fell again Friday, capping their weakest week in over a month. The FTSE 100 closed down 0.4% at about 10,363, leaving it 1% lower for the week. The FTSE 250 shed 0.6% on Friday and 0.5% over the last five sessions. Miners and other cyclicals came under pressure after U.S.-Iran peace talks were called off and new political risk emerged in the UK. Brent crude dropped almost 5% early this week after talk of a U.S.-Iran deal. Travel, homebuilding and mining stocks rose while BP and Shell shares slipped as traders looked for cheaper energy and a possible opening of the Strait of Hormuz.