FTSE 100 retreats from record high as oil prices climb

The UK’s blue-chip index edged lower after touching a record, with the FTSE 100 slipping as investors turned jittery ahead of the weekend. The drift downward came alongside a rise in oil prices, a combination that often points to a more defensive mood in equity markets.

Oil’s advance reflected lingering supply concerns and a broader sense of unease. Chris Beauchamp, chief market analyst at IG, noted that the bounce in crude underscored nervousness as traders squared positions before the close of the week.

The pullback in the FTSE 100 was broad, though no single catalyst was cited. The move away from the peak suggests some profit-taking after the index’s recent run of gains.