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FTSE 100 down 0.1%, FTSE 250 up 0.5%
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Entain ( GMVHF ) rises after Jefferies upgrade
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Women's soccer, hot weather boost UK retail sales in July
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US job growth nearly stalls in August
(Updates after market close)
Sept 5 (Reuters) -
Britain's FTSE 100 closed lower on Friday, dragged down by
energy and bank stocks, while investors assessed domestic and
U.S. economic data.
The blue-chip FTSE 100 was 0.1% lower on the day but
ended the week marginally higher.
The domestically focused FTSE 250 closed 0.5% higher
but logged its second straight weekly decline.
In the market, the homebuilders' index rose,
led by Berkeley, up 3% after reaffirming its profit
forecast for fiscal years 2026 and 2027.
Peers Vistry, Persimmon, Taylor Wimpey
and Barratt Redrow ( BTDPF ) also advanced.
Precious metal miners and industrial miners
rose, tracking higher gold and copper prices,
respectively.
Conversely, energy stocks fell 2.4% and
weighed on the FTSE 100, with giants Shell and BP
down 2.2% and 2.6%, respectively.
Heavyweight bank stocks fell and top lenders
HSBC ( HSBC ), NatWest ( NWG ), Barclays ( BCS ), and Lloyds
were among the biggest laggards on the benchmark index.
Non-life insurers fell, dragged by Admiral
Group's 2.9% decline, top loser on FTSE 100, after Peel
Hunt downgraded the stock to "sell" from "reduce".
In other moves, Entain ( GMVHF ) rose 3.3%, to top the FTSE
100, after Jefferies raised price target on the betting company.
Ashmore fell 4.3% after the asset manager reported
lower-than-expected fee revenue and a dip in profit in its
annual results.
Concerns over Britain's finances and the government's
ability to keep them under control weighed on the markets
earlier this week, briefly sending yields on long-dated
government bonds to a 27-year high.
Investors continue to speculate about tax rises that could
dampen economic growth, with Britain set to deliver its budget
on November 26.
On the data front, retail sales rose more than expected in
July.
In the U.S., data showed job growth weakened sharply in
August and the unemployment rate rose to 4.3%, confirming labour
market conditions were softening and sealing the case for an
interest-rate cut from the Federal Reserve this month.
British Deputy Prime Minister Angela Rayner
resigned
after saying she deeply regretted her mistake of
underpaying property tax on a new home.