The blue-chip FTSE 100 index closed 0.14% higher at 10,695.25 points, leaving it in positive territory for the week
International News via Reuters:
London’s FTSE was muted on Friday but notched a second consecutive weekly gain, as declines in energy shares from weaker oil prices were offset by gains in banks and miners.
The blue-chip FTSE 100 index closed 0.14% higher at 10,695.25 points, leaving it in positive territory for the week. The midcap FTSE 250 climbed 0.44%, also marking a weekly gain.
• Heavyweight banks climbed 1.3%, with Barclays up 1.6%, while Lloyds Banking and Standard Chartered added around 1.7% and 2.5% respectively.
• Precious metal miners jumped 2% as gold and silver prices rose after dropping sharply earlier this week. [GOL]
• Oil prices eased after two sessions of gains as investors weighed hopes of a U.S.-Iran truce against risks to supply from escalating Houthi attacks on Saudi Arabia. Energy giant Shell lost 0.8%. [O/R]
• was down 2.3%. Reuters reported on Thursday BP is weighing a potential acquisition of US-based Devon Energy’s operations in South Texas. HSBC upgraded the stock to “buy” from “hold”.
• Global government bond yields eased a touch after jumping earlier this week. The British benchmark 10-year gilt yield inched lower to 5.3810% after hitting a more than one-week high earlier this week.
• A survey showed British consumer confidence unexpectedly struck a more than two-year high this month as households grew more optimistic about their personal finances, adding to recent signs of resilience in the economy.
• Bank of England Governor Andrew Bailey said that persistently high energy prices would make it harder for the central bank to leave interest rates on hold, underlining a recent shift in tone towards higher borrowing costs.
• Investors are expecting at least one 25-basis-point hike by the BoE this year, according to data compiled by LSEG.
• Among stocks, land and property regeneration company Harworth Group rose 5.1% after Peel Holdings-backed Goodweather Holdings raised its final offer to 187 pence per share.
• Oil and gas producer Capricorn Energy gained 13.9% after Genel Energy raised its cash offer for the company to $436 million, topping a rival offer from DNO.
Reporting by Anand Gopal in Bengaluru; Editing by Vijay Kishore and Louise Heavens
