2024-12-06 16:54:03The FTSE 100 eased to close about 0.5% down at 8,309 on Friday, in a session marked by the release of a stronger-than-expected US jobs report that supported the view of a gradual rate-cutting approach by the US Federal Reserve. Locally, UK house prices rose for the fifth month in November, up by 1.3%, the largest increase so far this year, pushing the annual growth rate to 4.8%, the highest since November 2022. Among equities, Frasers Group (-3.6%) was the biggest loser, as investors seemed unimpressed by its bid to acquire Norwegian sporting goods retailer XXL, following a reduction in FY profit forecasts. Severn Trent and United Utilities Group also fell over 3% each after both were downgraded by Jefferies analysts, while Spirax dropped 2.9% following a downgrade to 'neutral' by JPMorgan. Heavyweights Shell and BP saw pressure with a further drop in oil prices. Conversely, JD Sports Fashion and B&M European Value Retail led the way. For the week, the FTSE 100 rose 0.3%.