London’s FTSE 100 was poised for its initial weekly decline in five on Friday, as mining stocks fell in tandem with a decrease in copper prices. Conversely, software and data firms experienced a resurgence following the announcement of a significant transaction within the sector.

The blue-chip FTSE 100 dipped 0.1% to 10,765.30 points by 1009, on track for its first weekly decline since early July. The midcap FTSE 250 edged up 0.1% to 24,860.50 points, set to end the week largely flat.

• Shares of miner Antofagasta dropped almost 5%, continuing a sharp decline for the second consecutive day following a disappointing production outlook announced on Thursday, coinciding with a decline in copper prices after a recent rally.
• The FTSE 350 industrial metal and mining index was set for a 4.7% weekly drop, in what could be the weakest weekly performance since mid-March.
• Among gainers, shares of Sage Group, Experian, and RELX climbed between 3.5% and 5.7% following a report indicating that private equity firm Silver Lake was in discussions to acquire U.S. software firm Workday, thereby boosting the sector.
• Global stocks traded just below record highs as benign U.S. inflation data this week tempered expectations of Federal Reserve interest rate hikes this year.
• Nonetheless, the absence of advancement toward a durable peace agreement between the United States and Iran has influenced market sentiment and positioned crude prices for weekly increases.
• The United States indicated on Thursday that it could sustain its measures indefinitely and would escalate economic pressure on Tehran as ceasefire discussions have stalled, global oil supply is diminishing, and regional tensions are escalating.
• Bank of England Chief Economist Huw Pill stated to the Wall Street Journal that the unexpectedly robust British economic growth figures bolstered the argument for increased borrowing costs to return inflation to its target, following data that revealed a surprising 0.3% increase in the UK’s gross domestic product in June.
• Market participants anticipate a minimum of one 25-basis-point increase in the Bank of England’s interest rate by the conclusion of this year, as indicated by data compiled by LSEG.
• Ladbrokes owner Entain opens new tab rose 3.6% as it beat first-half profit expectations, while identity technology company GB Group opens new tab sank 27%, its steepest fall in over nine years, after cutting its annual revenue growth forecast.