FTSE 100 Falls from Record Highs

The FTSE 100 fell 0.4% to close at 8,851 on Friday, pulling back from Thursday’s record high, as escalating tensions in the Middle East sparked a broad-based sell-off across global equity markets.

However, the decline in the UK benchmark was more modest compared to heavier losses seen across its European peers.

Israel launched widescale strikes against Iran, marking a significant escalation in hostilities that fueled fears of a broader conflict in the region.

Shares of International Airlines Group were among the hardest hit, falling 4.5%.

EasyJet (-3.5%), GSK (-2.5%) and JD Sports (-1.9%) also booked big losses.

In contrast, oil, gas, and defense stocks outperformed amid heightened security risks and rising energy prices, namely BAE Systems (3.3%), BP (2%), Fresnillo (1.7%) and Shell (1%).

On the week, the FTSE 100 edged up 0.1%.