FTSE 100 dips, though boasts weekly gain of more than 2%
On Friday, British shares fell into negative territory, because investors throughout the world were quite cautious ahead of a crucial gathering of key oil players this weekend.
The FTSE 100 index lost 0.2%, trading at 6,353.59. This index ended up at the highest value since December. However, the trading session closed marginally higher, when the BOE left its interest rates intact and warned that Brexit uncertainty would harm the UK’s economy.
Friday’s data from China revealed growth in the country’s GDP fluctuated around 6.7% in the first quarter. The reading appeared to be in line with most expectations, though lower than the previous quarter’s profit of 6.8%.
Financial analysts told that the economic data showed obvious signs that the government’s stimulus measures really work. Commodity stocks are extremely sensitive to China data, because this Asian country is an active user of natural resources, though few reacted on Friday in London.
Among the commodity movers, stocks of mining group BHP Billiton PLC surged 0.7%, but in that space decliners dominated.