FTSE 100 Edges Down from Record

The FTSE 100 traded flat to lower on Friday, after closing at a new record level on Thursday, as investors reacted to weak UK GDP data and escalating trade tensions.

The UK economy contracted 0.1% in May, versus expectations of 0.1% growth, raising concerns over broader economic weakness.

However, the index was supported by strong performances in gold miners amid rising gold prices, as well as upbeat news from BP and gains in aerospace and defence.

BP shares rose over 2% after the company forecast higher Q2 upstream production.

Gold miners Fresnillo and Endeavour climbed 1.5% and 0.8%, respectively, while BAE Systems gained over 1%.

Meanwhile, tariff risks intensified as President Trump threatened a 35% tariff on Canadian goods, up from the current 25%, effective August 1.

He also floated a potential blanket 15–20% tariff on most trading partners, escalating global trade uncertainty.

Elsewhere, Unilever exited its ice cream business in Venezuela, selling it to a local truck company.