FX.co ★ FTSE 100 Hits One-Month High

The FTSE 100 climbed 0.4% to 10,490 on Friday, its highest level since April 21, setting the benchmark up for a 2.8% gain over the week as investors turned more optimistic about progress in US‑Iran peace talks. US Senator Marco Rubio pointed to “some good signs” in the negotiations, though Tehran’s uranium stockpile and its control of the Strait of Hormuz remain major sticking points.

Fresh UK economic data offered a mixed picture. Retail sales in April fell 1.3%, nearly twice the expected 0.6% decline, dragged down by a sharp drop in fuel sales amid rising prices. By contrast, consumer confidence in May edged higher and came in above forecasts. The UK budget deficit widened to £24.3 billion, overshooting the £20.9 billion estimate. Taken together with earlier reports of subdued inflation, a cooling labour market, and May PMI readings pointing to private‑sector contraction, the figures led traders to pare back expectations for further Bank of England interest rate increases.