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UK stocks dipped on Friday as tariff uncertainties and weaker-than-expected US jobs growth impacted investor sentiment. The FTSE 100 fell by 0.3%, easing from a record high set on Thursday. Despite the Bank of England's recent rate cut, economic growth forecasts have been halved, with inflation projected to nearly double the 2% target this year.
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Affirm's shares surged by 19.5% following a strong holiday shopping season that resulted in a surprising quarterly profit and optimistic annual revenue forecast. Increased use of BNPL services contributed to a $10.1 billion rise in gross merchandise volume, exceeding analysts' expectations. The company's revenue also grew significantly, and it projected higher-than-expected fiscal 2025 revenue.
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Wall Street ended sharply lower on Friday due to mixed U.S. payrolls data, weak consumer sentiment, and revived trade war concerns. Major U.S. indexes fell steeply after President Trump's announcement of new tariffs, while Treasury yields and the dollar rose amid the market turmoil and disappointing tech sector earnings.
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News and Media
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