FTSE 100 roundup: Next's rise fails to counter blue chip index losses

The FTSE 100 ended the week down 0.44 per cent over the day and 3.4 per cent on last week's close, as strong online sales at Next failed to spruce up the blue-chip index.

Next was the FTSE 100's biggest riser, climbing 7.67 per cent over the day despite warning of a challenging high street climate. It was followed by tech firm Micro Focus, which saw its share price begin to recover after billions was wiped from its market value earlier this week as it announced disappointing performance.

Engineering conglomerate Smiths Group weighed down the blue chip index as its largest faller, after it failed to hit its expected top line in results. Shares were down 4.39 per cent at the close.

In the FTSE All-Share, Invidior led the downwards trend. Its shares crashed more than six per cent on news that it had lost a patent battle with a US generics rival pharma company.

Elsewhere across the globe, markets were faring little better.

"A tentative rebound has fizzled out on Wall Street, with early gains disappearing while Europe remains firmly in the red," said Chris Beauchamp, chief market analyst at online trading company IG.

"The small gains for the Dow and the recovery off the lows for others is more position-squaring rather than anything concrete. Sadly for those hoping for bullish momentum next week, there is precious little in the way of big data to spark a rebound. Waiting for the next move in the tariff wars will probably occupy everyone’s minds."

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