UK Stocks Close at Over 1-Week High
The UK's FTSE 100 rose further to close about 1.1% upr at 10,560 on Friday, its highest since September 30, halting a two-day losing streak. Sentiment improved as oil prices retreated, easing pressure on bond yields, after Trump signalled a pause in potential US military action against Iran ahead of next month's midterm elections and described ongoing talks as “productive”. Software-related stocks were among the best performers, with Relx, Sage Group and Experian rising 4.8%, 4.3% and 4.2%, respectively. Mining stocks also advanced strongly, with Antofagasta surging over 5%, amid firmer prices of copper. Fresnillo rose more than 3%, tracking gains in silver and gold. On the flip side, telecom stocks faced pressure after SpaceX agreed to acquire spectrum to strengthen Starlink Mobile’s US ambitions, weighing on Airtel Africa (-6.3%), Vodafone (-4.9%) and BT Group (-2.4%). For the week, the FTSE 100 rose by 0.9%.
1% upr at 10,560 on Friday, its highest since September 30, halting a two-day losing streak. Sentiment improved as oil prices retreated, easing pressure on bond yields, after Trump signalled a pause in potential US military action against Iran ahead of next month's midterm elections and described ongoing talks as “productive”. 2%, respectively. Mining stocks also advanced strongly, with Antofagasta surging over 5%, amid firmer prices of copper.
Fresnillo rose more than 3%, tracking gains in silver and gold. 4%). 9%.