London Markets: FTSE 100 ends lower as resource stocks, banks retrace gains

U.K. stocks finished the week on a downbeat note, unable to shake off global equity weakness Friday as investors brushed off a solid GDP growth report for the nation and sold bank and resource stocks that had performed well Thursday.

How are markets performing?

The FTSE 100 index UKX, -0.49% closed 0.5% lower at 7,105.34, outweighing Thursday’s gain of 0.3%. For the week, the index gained a moderate 0.2%.

The British pound GBPUSD, -0.6661% was weaker on the day, sliding to $1.2979 from $1.3061 late Thursday in New York.

What’s moving markets?

Global equities took a hit from Thursday’s Federal Reserve outcome, which saw no change in key rates, but investors were rattled by a perceived hawkish tone by the central bank.

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