FTSE 100 Ends Flat, Posts Weekly Drop

Equities in London closed virtually flat on Friday, with the benchmark FTSE 100 hovering around the 7,480 mark, as gains in the consumer discretionary and financials sectors offset losses in energy.

DS Smith and InterContinental Hotels Group were among the biggest gainers, up roughly 4.7% and 4.1%, respectively.

Conversely, Frasers Group added almost 4% to lead the FTSE 100.

In a week soft in terms of economic data, sentiment remained dominated by worries about the pace of interest rate rises to combat inflation on a backdrop of slowing growth.

Still, signs that China is gradually moving away from its stringent COVID-19 controls, with the government making it easier to travel domestically, keep businesses operating, and allow patients to quarantine at home, offered investors some respite.

Given the above, the export-oriented index is down more than 1% this week, posting its first weekly decline in four.