11.07.202507:55:53UTC+00FTSE 100 Edges Down from Record

On Friday, the FTSE 100 showed little movement, following its new peak on Thursday, as market participants responded to disappointing UK GDP figures and growing trade tensions. The UK's economy shrank by 0.1% in May, contrary to projections for 0.1% growth, heightening fears of wider economic fragility. Nonetheless, the index found support through robust performances from gold mining companies, buoyed by rising gold prices, alongside positive developments from BP and advancements in the aerospace and defense sectors. BP's stock appreciated by over 2% after the company anticipated increased upstream production in Q2. Meanwhile, gold mining stocks such as Fresnillo and Endeavour improved by 1.5% and 0.8%, respectively, while shares of BAE Systems increased by more than 1%. In contrast, trade tension escalated with President Trump's threat to intensify tariffs on Canadian imports to 35% from the existing 25% starting August 1. He also suggested imposing a sweeping 15–20% tariff on the majority of trading partners, adding to global trade uncertainties. Additionally, Unilever exited the ice cream market in Venezuela by selling its operations to a local distribution firm.