London Stocks Suffer Amid Corporate Earnings and Interest Rate Uncertainty

London stocks experienced a downturn, wrapping up a week marked by unsettling corporate earnings and interest rate concerns. The FTSE 100 fell 0.6% on Friday, also losing 0.4% for the week. Highlights included IAG's significant drop and ITV's discussions of a potential sale.

London stocks tumbled on Friday, capping off a turbulent week dominated by unsettling corporate earnings and the Bank of England's crucial interest rate decision. The FTSE 100 index dipped by 0.6% for the day, finishing the week with a total loss of 0.4%.

IAG emerged as one of the biggest drags, plummeting 11.6% after revealing weaknesses in the U.S. market, marking its sharpest single-day fall since 2021. Meanwhile, the midcap index fell 0.6%, ending the week 1.9% lower.

On the other hand, ITV shares soared by 16.6% as it entered talks with Sky over a potential $2.15 billion sale of its television business. Analysts are now eyeing potential rate cuts in December, adding another layer of complexity to the UK's market dynamics.

(With inputs from agencies.)