London blue-chips opened lower on Friday after President Donald Trump secured approval for his controversial spending bill, while ECB President Christine Lagarde urged the EU to strengthen its internal market in response to rising global tariffs.
Investor optimism faded amid growing concerns over the impact of looming US tariffs and the spending bill’s addition of $3.4 trillion to America’s deficit over the next decade.
China escalated trade tensions by announcing anti-dumping duties on brandy imports from the EU, while Chinese Foreign Minister Wang Yi sought to ease concerns over rare earth export restrictions during talks in Berlin.
ECB President Lagarde called for a stronger European single market as the best defence against US protectionism, urging the removal of internal barriers and greater regulatory harmonisation.
Trump is set to formally sign his spending bill during Independence Day celebrations, closing a week marked by key political and judicial victories.
US markets are closed Friday for the holiday, but the global outlook remains clouded by US debt concerns and trade tensions.
The FTSE 100 slipped 0.3% to 8,799.08, with the FTSE 250 down 0.5% at 21,590.57 and the AIM All-Share easing 0.1% to 775.22.
Versarien shares jumped 15% after extending licensing agreements with Brazilian firm Montana Quimica, securing upfront payments and future royalties based on sales.
Huddled Group gained 11%, boosted by a partnership with e-commerce provider THG Ingenuity and fresh funding from Shard Capital Partners, who agreed to invest £1.5 million to support growth plans.
Thruvision fell 11% following a heavily discounted £2.1 million placing at 1p per share, with further fundraising rounds planned.