FX.co ★ FTSE 100 Ekes Out Small Gain

The FTSE 100 inched higher on Friday as strength in banking and mining stocks offset weakness in the energy sector. Among the lenders, HSBC Holdings, Barclays and Lloyds rose between 0.8% and 1.8%. In the mining sector, Glencore added 1.6%, while Anglo American advanced 1.8%. United Utilities also ticked up after the water group said its operational performance remained in line with expectations and confirmed it was seeking backing for £1 billion of investment in its network.

Oil majors lagged the broader market, with BP slipping more than 2% and Shell down 0.8% as crude prices softened. Traders continued to balance the prospect of a potential US-Iran truce against worries that intensifying Houthi attacks on Saudi Arabia could disrupt supplies from the key Middle Eastern producer.

On the macroeconomic front, UK consumer confidence improved for a third consecutive month, according to GfK, though the survey indicated households remain cautious. For the week as a whole, the FTSE 100 was up about 0.3%.