FTSE 100 rises ~0.3% Friday; still set for monthly decline
FTSE 100 rose around 0.3% on Friday on a broader European rally. Gains in banks, energy and miners offset modest underperformance versus peers, while Brent stayed below $90 a barrel.
The FTSE 100 rose around 0.3% on Friday, joining a broader European rally as investors awaited Federal Reserve Chair Kevin Warsh’s closely watched speech at Jackson Hole for clues on the outlook for interest rates and the US economy.
Gains across banks, energy companies and miners provided support, although the UK benchmark was slightly behind its European peers.
Mining stocks benefited from stronger metals prices, with Endeavour up more than 2%, Fresnillo around 1.7%, and both Antofagasta and Anglo American gaining over 1%.
Shell and BP were only modestly higher as Brent crude remained below $90 a barrel.
HSBC also added around 1%, while Lloyds’ latest business barometer offered further evidence of resilient corporate sentiment.
Despite today’s advance, the FTSE 100 is on course for a monthly decline, ending a four-month winning streak.