The FTSE 100 closed on Friday down 64.54 points at 6,939.56.
However, despite the overall fall, the UK blue-chip index did manage to recover from earlier lows of 6,851.59.
Tech Stocks take a hit
Amazon and Alphabet’s worse-than-expected third quarter results have seemed to have affected the whole market, sending both the NYSE and FTSE down.
The FTSE 100 was down 116.4 points, or 1.7%, to 6,887.7.
Tech stocks affected by Amazon and Alphabet’s fall in share price included Sophos Group PLC (LON:SOPH), which was down 6.9% to 397.8p.
Also taking a hit was Avast PLC (LON:AVST), which fell 3.6% to 271.9p.
Rolls-Royce engine troubles send shares down
The aerospace engineer is reportedly facing troubles with the Trent 900 and 1000 lines of engines.
This year’s profits are expected to be dented by £450 million, which sent shares down 14% earlier in the afternoon.
A statement confirmed the engine issues.
“While the production ramp-up issues in Q4 are regrettable, such issues in the early stages of a new engine program are not uncommon in our industry,” it said.
“As we move into 2019 we are confident that Trent 7000 production and delivery volumes will increase significantly to meet our customer commitments.”
The group remains committed to its full-year guidance.
Friday’s FTSE climbers
Paddy Power Betfair plc (LON:PPB) was the top climber of the day, recovering from losses earlier in the week.
Shares were up 2.1% to 6,520p.
Another riser was British Airways owner International Consolidated Airlines Group PLC (LON:IAG).
The group shares rose 1.8% to 597.8p on Friday thanks to strong profits in the third quarter.
