The FTSE 100 closed lower on Friday, ending the session down and slipping around 1% for the week, breaking its winning run for the year as losses in financial stocks outweighed gains elsewhere. HSBC, Barclays and Standard Chartered fell more than 1%, while Lloyds Banking Group and NatWest also declined, weighing heavily on the index. In contrast, energy stocks provided some support, with Shell and BP rising 0.6% and 1.6% respectively as crude prices rebounded from Thursday’s sharp drop. Mining stocks also advanced, with Fresnillo and Endeavour up around 2% as gold prices remained elevated. On the data front, S&P Global PMI figures showed UK private sector activity expanded in January at its fastest pace since April 2024, while retail sales rose 0.4% in December, beating forecasts. Consumer confidence also improved, reaching its highest level since August 2024.