FTSE 100 Remains Under Pressure

Equities in London dropped for a second consecutive session on Friday, with the blue-chip FTSE 100 hovering slightly above the 7,500 level, dragged by losses in the energy and heavyweight materials sectors.

A stronger-than-expected US jobs report threw some cold water into expectations that the Federal Reserve will soon slow its aggressive tightening campaign.

Giants Ango American, Rio Tinto, and BP were among the biggest laggards on the index, down over 2% each.

Still, the FTSE 100 rose roughly 0.5% this week, putting it on track for a third straight weekly gain.

In November, the export-oriented index rallied almost 7%, the best monthly performance since November 2020.