FTSE 100 LIVE: Blue-chips post triple-digit loss as Wall Street makes steady start

The FTSE 100 fell almost 150 points on Friday, dragged lower by banks and energy stocks.

Wall Street was steadier. The Nasdaq Composite rose 0.4% and the S&P 500 edged up 0.1%, while the Dow slipped 0.2%.

Investors are still weighing the Federal Reserve's first rate rise in three years, alongside growing unease over artificial intelligence.

Markets largely looked past the widely expected 25 basis point hike, and futures firmed after the Bank of Japan lifted rates to a 31-year high.

Not everyone is convinced one move will tame inflation, with JPMorgan chief Jamie Dimon warning: "It's not clear to me we've slayed inflation."

Oil hovered near $100 as the war in Iran nears its seventh month, keeping central banks under pressure.

The FTSE 100 fell 111 points, or around 1%, to 10,710 by early afternoon on Friday. Banks and energy stocks did much of the damage.

Oil majors slipped as crude fell for a third session running on easing fears over supply disruption, while heavyweight lenders Lloyds and HSBC also weighed on the index.

The mood had already cooled after Barclays and JP Morgan shifted their calls to pencil in a November rate rise, a day after the Bank of England held at 3.75%.

Fresh tension in the Middle East, including a reported attack on a tanker in the Strait of Hormuz, added to the caution and offset an upbeat domestic retail sales report.

Telecoms were the standout fallers, down 4.3% as a group, dragged by Airtel Africa.

The stock tumbled 8.8% after a report suggested it may scale back its planned London listing.

Trades seem intent on giving back most of Thursday's gains, with the UK's blue-chip index down 74 points mid-morning.

Airtel Africa was the biggest loser, down 8.5%, after the London IPO of its unit, Airtel Money, was downsized.

Wickes, meanwhile, received a boost after an upgrade by Deutsche Bank. That said, Deutsche's lukewarm 'hold' rating is hardly a ringing endorsement.

The blue-chip index gave around 23 points back in early trading Friday after a storming session the day before to open at 10,793.20.

Corporate news flow was at a premium, with Investec delivering a fairly anodyne trading update and Harworth rejecting a renewed bid approach from Peel.

Outside that, Mothercare warned of the potentially existential risk posed by a franchise partner.

The FTSE 100 looks set to pause for breath on Friday, with futures pointing to an open 14 points lower after Thursday's 129-point gain.

Asian shares mostly rose overnight, taking their cue from a rally on Wall Street and a further fall in oil prices.

Japan's Nikkei 225 climbed almost 2% after the Bank of Japan raised its benchmark rate to 1.25% from 1%, a 31-year high.

The move had been widely anticipated, coming after the Federal Reserve lifted US rates this week.

South Korea's Kospi jumped 2.3%, while Hong Kong's Hang Seng and the Shanghai Composite also gained.

On Wall Street, the S&P 500 rose 1.1% and the Nasdaq 1.7%, as Brent crude slid from the near $110 it hit earlier in the week to trade at $103.83 a barrel.

The retreat in oil eased bond market pressure, pulling the 10-year Treasury yield down to 4.93%.