FX.co ★ UK Stocks Close Almost Muted

The FTSE 100 surrendered early gains to finish virtually unchanged at 10,601 on Friday, though it remained near a one-month high amid cautious optimism ahead of US-Iran talks scheduled for the weekend. Markets were tempered by persistent deep divisions, notably over the status of the Strait of Hormuz and the proposed inclusion of Lebanon in any ceasefire agreement.

Metals and mining stocks, along with retailers, underpinned the index, while the aerospace and defense sector lagged. Among individual movers, Convatec Group topped the leaderboard with a 4.5% gain, followed by Endeavor Mining and Antofagasta, both advancing more than 3%. Kingfisher and Burberry Group also posted solid increases, up 2.7% and 2.1%, respectively.

On the downside, Metlen Energy & Metals slumped nearly 9% after releasing weak annual results the previous day. Defense names were under pressure, with BAE Systems and Babcock International declining 3.3% and 1.7%, respectively. Compass Group slipped 1.9% after a downbeat trading update from French peer Sodexo. For the week, the FTSE 100 gained 1.6%.