FTSE 100 posts weekly loss as AI jitters spark risk-off move
EWU•The FTSE 100 fell 1.01% to 10,673.94 points on Friday and lost 0.5% for the week as AI-related concerns contributed to a broad risk-off move. The FTSE 250 slipped 0.80% on the day but edged up for the week.
1. UK stocks fall
The FTSE 100 fell 1.01% on Friday after touching a more than three-week low earlier in the session, ending at 10,673.94 points and down 0.5% for the week. The FTSE 250 slipped 0.80% but eked out a small weekly gain.
2. Broad market retreat
Concerns about AI regulation, slower data-centre construction and tighter spending by hyperscalers contributed to a risk-off move. Telecom stocks led London’s declines, falling 3.6%; BT Group dropped 6.4% and Airtel Africa fell 4%. Precious metal miners rose 1.7%, while energy stocks fell 1.6% as oil prices slipped.
3. Other market details
The European STOXX 600 ended 1% lower. Man Group fell 7.6%, the biggest decline on the FTSE 250, after Kuwait’s public pension fund won a lawsuit against the asset manager. Lloyds said British house prices fell at the fastest annual pace in a year in October as higher mortgage costs weighed on demand.
