FTSE 100 Edges Higher On Mining, Banking Strength
(RTTNews) - U.K. stock market's benchmark index FTSE 100 was modestly higher a little past noon on Friday, led by gains in mining and banking sectors. Energy stocks shed ground as oil prices retreated amid renewed hopes a fresh proposal submitted by Iran to the U.S. will help end the Middle East conflict and pave the way for the reopening of the Strait of Hormuz.
The FTSE 100 was up 27.95 points or 0.26% at 10,707.94 a little while ago. The index had advanced to 10,754.25 earlier in the session.
Brent crude futures fell to $97.81 a barrel and were at $98.34 a little while ago, down nearly 2% from previous close.
Miners Fresnillo and Endeavour Mining gained 2.8% and 3%, respectively. Antofagasta moved up 1.7%, Anglo American Plc gained 1.6% and Glencore advanced 1.5%.
Computacenter, up 3.75%, topped the list of gainers in the FTSE 100 index. 3i Group climbed 3.4%. Smiths Group, Standard Chartered, Aberdeen Group, IAG, Lloyds Banking Group and Informa gained 2%-3%.
Informa, Lion Finance, Barratt Redrow, Polar Capital Technology Trust, AutoTrader Group, BT Group, St. James's Place and Barclays gained 1.5%-1.9%.
Water firm United Utilities gained more than 1% after maintaining its 2026-27 financial guidance and regulatory return targets.
Energy stocks Ithaca, BP and Shell shed 4.9%, 3.2% and 1.2%, respectively, due to weak oil prices.
British American Tobacco, BAE Systems, Babcock International, Bunzl, Imperial Brands, Smith & Nephew, Haleon, Tesco, Admiral Group and Convatec Group drifted down 0.7%-1.7%.
On the economic front, a report from GfK Group showed the UK GfK Consumer Confidence Index rose to -13 in September from -14 in the previous month, reaching its highest level since August 2024. The reading came above the Reuters poll forecast of -16, adding to recent signs of resilience in the UK economy.
