FTSE 100 Ekes Out Small Gain
The FTSE 100 edged higher on Friday as gains in banking and mining stocks offset weakness among energy companies. HSBC Holdings, Barclays and Lloyds advanced between 0.8% and 1.8%, while Glencore rose 1.6% and Anglo American gained 1.8%. United Utilities also moved slightly higher after the water company said its operational performance remained in line with expectations and that it was seeking support for £1 billion of investment in its network. Oil majors underperformed, with BP falling more than 2% and Shell declining 0.8% as crude prices weakened. Oil markets continued to weigh the possibility of a US-Iran truce against concerns that escalating Houthi attacks on Saudi Arabia could disrupt supplies from the key Middle Eastern producer. Meanwhile, UK consumer confidence improved for a third consecutive month, according to GfK, although the survey pointed to continued caution among households. The FTSE 100 was around 0.3% higher over the week.
The FTSE 100 edged higher on Friday as gains in banking and mining stocks offset weakness among energy companies. 8%. United Utilities also moved slightly higher after the water company said its operational performance remained in line with expectations and that it was seeking support for £1 billion of investment in its network. 8% as crude prices weakened.
Oil markets continued to weigh the possibility of a US-Iran truce against concerns that escalating Houthi attacks on Saudi Arabia could disrupt supplies from the key Middle Eastern producer. Meanwhile, UK consumer confidence improved for a third consecutive month, according to GfK, although the survey pointed to continued caution among households. 3% higher over the week.