FTSE 100 Falls from Record

The FTSE 100 retreated from record highs on Friday, pressured by weak UK GDP data and rising global trade tensions.

The UK economy unexpectedly shrank by 0.1% in May, raising fears of a broader slowdown.

However, losses were limited by strength in gold miners and energy stocks.

Fresnillo and Endeavour rose 3% and 1.1%, respectively, as gold prices climbed on safe-haven demand.

BP jumped over 3% after projecting higher upstream production in Q2, while BAE Systems gained more than 1% amid renewed interest in defence stocks.

Trade concerns resurfaced as President Trump announced a 35% tariff on Canadian goods from August 1, up from 25%, and floated a 15–20% blanket tariff on most trading partners.

Meanwhile, Unilever dropped 1% after exiting its ice cream business in Venezuela.

Despite Friday’s pullback, the FTSE 100 ended the week up more than 1%, marking its best weekly performance since mid-May.