FTSE 100 Weak As Middle East Tensions Weigh

(RTTNews) - Intensified geopolitical tensions amid an exchange of fire between the U.S. and Iran swayed market sentiment on Friday. Markets also digested the results of the recent elections in the U.K. The FTSE 100 benchmark of the London Stock Exchange has declined on Friday.

The FTSE 100 which had closed at 10,276.95 on Thursday traded between 10,277.40 and 10,184.99 on Friday.

The index is currently trading at 10,261.96, slipping 0.15 percent from the previous close.

In the 100-scrip index, only 42 scrips are trading in the overnight green zone. BT Group topped gains with a surge of 4.8 percent. JD Sports Fashion followed with gains of 3.3 percent.

Babcock International Group, Intertek Group, Lion Finance Group, all declined close to 2.5 percent.

The six-currency Dollar Index has weakened 0.10 percent to 97.97 from 98.07 at close on Thursday. The GBP/USD pair has in the meanwhile rallied 0.40 percent to 1.3620. The sterling ranged between $1.3624 and $1.3548 in the day's trade. The EUR/GBP pair has edged down 0.05 percent to 0.8647. The GBP/JPY pair is currently trading 0.27 percent higher at 213.24.

Reacting to the political situation in the U.K. as well as the geopolitical situation in the Middle East, bond yields eased on Friday. Ten-year bond yields dropped 1.31 percent overnight to 4.8790 percent. The yields ranged between 4.9580 percent and 4.8790 percent over the course of the day. Yields had closed at 4.9440 percent a day earlier.