FTSE 100 Ends Flat Amid Strong Manufacturing Data and Mixed Corporate Results

The FTSE 100 settled nearly unchanged on Friday, closing at 10,363.93, a decline of 14.89 points or 0.14%. The session was characterized by a divergence between strong macroeconomic survey data and a downturn in heavy-weight energy and mining stocks, while most other European markets remained closed for the May Day holiday. Investors focused on a blend of corporate earnings and domestic economic health. The market's flat performance reflects a tug-of-war between bullish manufacturing signals and bearish pressure from falling oil prices, which weighed heavily on the energy sector. In corporate news, Natwest Group saw its shares drop 3.35% despite reporting a bottom line of GBP 1.507 billion, up from GBP 1.478 billion the previous year, with revenue increasing 0.8% to GBP 4.358 billion. Energy giants BP and Shell fell 2% and 1.1% respectively, while AstraZeneca declined 3.1%. Conversely, DCC and Entain led the gainers, rising 4.8% and 4.5% respectively. Economic data provided a silver lining, with the S&P Global Manufacturing PMI hitting a 47-month high of 53.7 in April, up from 51.0 in the previous month. Additionally, Nationwide reported a 3% year-on-year increase in house prices, exceeding expectations of 2.2%. Bank of England data also showed mortgage approvals rose to 63,531 in March, surpassing the forecast of 60,000. The combination of robust production growth and unexpected strength in the housing market suggests underlying economic resilience, though the immediate market reaction remained muted due to the drag from commodities and financials.