FX.co ★ UK End Week on Sour Note

The FTSE 100 index experienced a decline of over 0.5% on Friday, primarily impacted by travel disruptions and disappointing public finance figures. Shares of JD Sports plummeted more than 4% following Nike's subdued outlook. Additionally, the miners Antofagasta and Glencore saw their stocks fall by over 4% and 3%, respectively, due to a downturn in metal prices. Travel-related stocks were also hit hard; International Consolidated Airlines Group (IAG) decreased by 2.1% and EasyJet declined by 0.7%, subsequent to a fire near Heathrow Airport which led to its temporary closure. Compounding these challenges, UK public borrowing in February skyrocketed to £10.7 billion, significantly outpacing the £7 billion forecast, marking it as the fourth-largest deficit for February since records began in 1993. Despite these setbacks, the FTSE 100 recorded a modest weekly advance, buoyed by the Bank of England's decision to maintain interest rates at 4.5% and adopt a careful, data-dependent approach towards future rate adjustments.