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LONDON (Alliance News) - Stocks in London closed lower Friday following global peers amid rising global tensions, though the impact in the UK was softened by generally upbeat GDP growth figures. The FTSE 100 index closed down 1.0%, or 74.76 points, at 7,667.01 Friday. The mid-cap FTSE 250 index closed down 0.7% at 20,667.45. The AIM All-Share index closed 0.2% lower at 1,087.17.Sterling was quoted at USD1.2776 Friday, compared to USD1.2873 at the London equities close on Thursday.The Cboe UK 100 closed down 1.1% at 12,991.49, the Cboe UK 250 closed down 0.8% at 18,759.54, and the Cboe UK Small Companies closed down 0.3% at 12,290.74.In the UK, data from the Office for National Statistics showed gross domestic product improved in the second quarter of 2018 to rise 0.4% on the quarter prior. This was ahead of the 0.2% reported in the first quarter and in line with economist expectations. On the year, second quarter GDP advanced 1.3%. This was also in line with expectations and ahead of the 1.2% reported in the first quarter."The GDP figures confirmed that the economy bounced back after the weak start to the year and will reassure the Monetary Policy Committee that it was right to raise interest rates last week," Capital Economics Senior UK Economist Ruth Gregory said. "The rebound in quarterly GDP growth confirmed that the weakness at the start of the year was largely due to temporary weather-related factors."Last Thursday, the MPC of the Bank of England vote unanimously to hike interest rates to 0.75% from 0.5%.Gregory did emphasise that aspects of the data were "not quite as reassuring" when broken down. "Despite the sharp pick-up in retail sales volumes in the second quarter, quarterly consumer spending growth rose by just 0.3%, suggesting that spending off the high street remained subdued," Gregory explained. "Note too that net trade exerted a large 0.8 percentage point drag on growth, as export volumes dropped by 3.6% on the quarter - primarily driven by a fall in car and plane exports to non-EU countries - while import volumes fell by a smaller 0.8%," Gregory continued. "Even excluding the volatile valuables component (mostly non-monetary gold), net trade still subtracted 0.5 percentage points from GDP." Investors were also nervous ahead of expected retaliatory measures from Russia against US sanctions in the next wave of trade tension to hit markets recently. Late Thursday, a Russian Foreign Ministry spokeswoman Maria Zakharova said the country was "working out retaliation measures" in response to new "unfriendly" moves by the US.Earlier, the US announced it planned to extend its sanctions against Russia. These were in response to alleged liability of the Russian government in he poisoning of former Russian double agent Sergei Skripal and his daughter in the UK city of Salisbury in March. Russia denies involvement.Amongst the losers in London on Friday, Russia-exposed mining firms were severely hit. FTSE 100-listed Evraz, in particular, closed down 8.8%. "The spectre of a new round of US-led sanctions against Russia over the Salisbury poisoning and the overall noxious atmosphere of Russia-West relations is souring interest for the Russian steelmaker," Accendo Research Analyst Artjom Hatsaturjants said. Hatsaturjants did emphasise that Evraz had benefited from the sanctions recently with higher prices and growing consumption boosting results. "Nevertheless, positive latest results and promising steel market conditions are insufficient to overcome the greater problem of stronger USD, as well as its connections to Putin's Russia," Hatsaturjants continued. Hatsaturjants concluded that: "While direct US sanctions have so far been limited to state-owned Russian companies and President Putin's close associates (Oleg Deripaska's Rusal comes to mind), how long before another US policymaker starts talking about Evraz's billionaire owner Roman Abramovich's 'friendship' with Putin and Evraz suffers the fate similar to that of deeply-damaged aluminium giant Rusal?"Smaller Russian-exposed peers Polymetal and Kaz Minerals were also suffering a similar fate, down 2.3% and 1.4%.Worries about rising global trade tensions as well as a strong greenback generally ensured that all major miners in London were languishing in the red at the close. Fresnillo closed down 3.2%, Anglo American 2.6% lower and Glencore down 2.7%.FTSE 100-listed Paddy Power Betfair continued its fall, down 3.9% as Credit Suisse raised the bookmaker to Neutral from Underperform, but cut its price target to 7,600 pence from 8,000p prior. Paddy Power fell 7.1% on Wednesday after it cut is profit expectations for the full year. Earnings before interest, taxes, depreciation and amortisation is now expected between GBP460 million and GBP480 million. This is down from the GBP470 million and GBP495 million forecast in May.FTSE 250-listed industrial firm Hill & Smith also dropped 3.7% after Berenberg cuts its rating to Hold from Buy, slashing its price target to 1,190p from 1,610p previously. This was after Hill & Smith reported on Wednesday its interim pretax profit decreased 14% to GBP28.9 million from GBP33.5 million the year prior after a "difficult" start to the year. The infrastructure products maker warned that it does not expect to recover the earnings shortfall in the second half. "While the medium-term outlook remains positive, a big second half is required and the risk to numbers now appears skewed to the downside, in our view," Berenberg analysts explained.On the AIM market, Oilex jumped 89% before trading was suspended at its request around midday on Friday. Sydney and London-listed Oilex asked the London Stock Exchange to suspend trading as it continues to seek take control of its Indian joint venture. Earlier on Friday, Oilex requested its shares in Sydney be halted from trading until next Tuesday, whilst it continues to try to take control of the outstanding share of a joint venture from its partner.In late July, Oilex said it was seeking to exercise its option to force the withdrawal of its joint venture partner for its Cambay oil field in India. Oilex is looking to assume the interest of Gujarat State Petroleum Corp Ltd in Cambay, after it failed to pay its share of the expenses for the project.Oilex - an oil and gas exploration firm - seeks a trading halt in Sydney pending an announcement relating to the matter. It wishes the halt to remain in place until a statement is made on Cambay or until next Tuesday, whichever is sooner.Prophotonix plummeted 36% after the LED illumination systems manufacturer cut its earnings expectations for 2018 after its first-half results were hurt by higher expenses and order delays. For the six months ended June, gross profit margin declined to 39% from 44% the year prior. This was amid a competitive market environment, revenue mix and higher component costs. Consequently, the AIM-listed firm now expects Ebitda before stock-based compensation to total USD200,000 for the first half of 2018. This is down significantly from the USD700,000 reported the year before.The euro was quoted at USD1.1414 at the London equities close Friday, from USD1.1573 at the European equities close Wednesday.Brent oil was higher quoted at USD72.84 a barrel Friday, from USD72.15 at the London equities close Thursday.Gold was quoted broadly unchanged at USD1,213.46 an ounce Friday, against USD1,213.90 at the London market close on Thursday.Stocks in New York were broadly higher at the London equities close. The DJIA was down 0.6%, the S&P 500 index down 0.5% and the Nasdaq Composite down 0.5%.Data from the US Labor Department showed consumer inflation accelerated as expected in July. The consumer prices index rose by 0.2% in July compared to June. This was faster than the 0.1% monthly figures reported in June. It was, however, in line with economist forecasts.On the year, inflation slightly lagged expectations at 2.9% in July. This was in line with the 2.9% reported in June but behind the 3.0% forecast by economists. In mainland Europe, in Paris the CAC 40 ended down 1.8%, while the DAX 30 in Frankfurt ended down 2.0%.In the economic calendar on Monday, China releases its money supply figures at 0300 BST. Italy delivers consumer price index inflation data at 0900 BST. In UK corporate events on Monday, half years results are due from shipping firm Clarkson and stocktrading platform Plus500.