London’s FTSE 100 experienced an uptick on Friday, as increases in major banking institutions counterbalanced a further decline in data analytics firm RELX, which participated in a worldwide selloff this week amid concerns regarding potential disruptions stemming from advancements in artificial intelligence. The blue-chip index was up 0.2% at 1133, on track to post a second consecutive weekly gain, bolstered by the Bank of England’s indication on Thursday that interest rates may decrease if the decline in inflation proves to be enduring. The domestically focused mid-cap FTSE 250 was little changed and was poised to decline for a second consecutive week.

Business information group RELX has slid 3.5%, marking its fourth consecutive week of decline. London Stock Exchange Group opens new tab rose 1.2% after sharp losses earlier this week. However, financial stocks, which hold significant weight in the index, experienced gains; banks such as Barclays, NatWest Group, and Lloyds saw increases ranging from 1% to 1.6%. Across the pond, megacap tech stocks stumbled after Amazon.com’s 50% boost in spending plans rattled sentiment.

Domestic political uncertainty exerted pressure, as Prime Minister Keir Starmer confronted his most significant political challenge to date following the disclosure of emails that highlighted the extent of UK ambassador Peter Mandelson’s connections to Jeffrey Epstein. The Eurasia Group, a political risk consultancy, has increased the probability of Starmer’s removal this year to 80%, up from 65%, citing that the controversy has inflicted “irreparable damage.” Conversely, miners listed in London experienced an uptick, with Fresnillo rising by 1.8%, positioning itself among the leading gainers of the benchmark index.

In a separate report, Halifax indicated that British house prices experienced their most significant increase in over a year during January, further contributing to indications of a recovery in the housing market. Next opens new tab rose 0.5% after the fashion retailer announced its acquisition of British footwear brand Russell & Bromley through an insolvency process, paying 2.5 million pounds ($3.4 million).