FTSE 100 Ends Week Lower As Energy and Financial Shares Weigh

The FTSE 100 dropped on Friday, marking a significant weekly decline driven by underperformance in energy and financial sectors, despite growing hopes for a U.S. Federal Reserve rate cut. Notably, Trustpilot shares surged after a Morgan Stanley upgrade, and personal goods and investment firm shares rose, contrasting with broader market trends.

The FTSE 100 saw a decline on Friday, closing 0.5% down as energy and financial shares dragged the index, leading to a substantial weekly drop. Oil & gas and bank stocks were particularly weak, weighing heavily on the blue-chip index, despite expectations of a U.S. Federal Reserve rate cut following U.S. inflation data.

Oil prices led to losses in oil & gas stocks, with Shell falling 1.4%. Bank of America downgraded one major player to "underperform," adding pressure to the sector, while banking giants like Standard Chartered, Barclays, and HSBC also took hits.

In contrast, the investment banking and brokerage services sector saw gains, with 3i Group advancing 2.5%. Trustpilot shares surged 13.3% after a favorable Morgan Stanley assessment. The Fed's PCE data indicating a slowdown in the economy bolstered investor hopes for an imminent rate cut.

(With inputs from agencies.)