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The FTSE 100 slipped 0.4% on Friday as oil prices remained volatile amid mixed signals over US–Iran negotiations and renewed tensions between Israel and Lebanon. Mining stocks were among the heaviest decliners, with Rio Tinto down more than 2%, Glencore off 1.5%, Anglo American lower by 2.5% and Antofagasta falling 3.2%. Precious metals producers also came under pressure, with Fresnillo and Endeavour losing 5.4% and 3.5%, respectively. Banks, Unilever and BAT traded lower as well.
By contrast, energy shares advanced, with Shell up around 1% and BP adding about 2%. Pharmaceutical and defence stocks also posted gains.
On the political front, Greater Manchester mayor Andy Burnham won the closely watched Makerfield by-election with 54.8% of the vote, bolstering his profile as a potential challenger to Prime Minister Keir Starmer.
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In economic data, UK public sector borrowing rose to £23.3 billion in May, exceeding expectations, while retail sales rebounded 1.2%, beating forecasts. For the week, the FTSE 100 ended more than 1% lower.
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