The FTSE 100 Index Opens 0.86% Higher

The FTSE 100 rose 0.8% on Friday, extending gains for the third session, supported by optimism that the US and Iran could be nearing an end to their conflict, alongside falling oil prices. Most constituents moved higher, with banks and miners leading gains. HSBC Holdings, Lloyds Banking Group, NatWest and Standard Chartered all gained over 2%, and Barclays advanced nearly 3%. Mining stocks performed strongly, with Rio Tinto up more than 1%, Anglo American rising 2.8%, Antofagasta gaining over 4%, and Fresnillo climbing more than 2%. Energy majors weighed slightly on the index as crude prices declined, with Shell falling 2.1% and BP down 2.6%. Meanwhile, fresh economic data showed the UK economy contracted for the first time in eight months, highlighting the impact of the Iran conflict on activity. GDP fell 0.1% in April after growth in the previous two months, matching economists’ expectations.

The FTSE 100 Index is gaining 88 points or 0.86 percent on Friday. Leading the gains are International Airlines Group (4.71%), Vistry Group (4.52%) and Persimmon (4.33%). Top losers are BP (-2.47%), Shell (-2.14%) and BAE Systems (-1.18%).

The FTSE 100 rose 0.4% on Thursday, extending the previous session’s 0.3% gain, supported by strength in financial and mining stocks. HSBC Holdings advanced more than 2%, while Lloyds Banking and Barclays gained around 0.7% each. Standard Chartered climbed nearly 3.6% and NatWest also moved higher. Mining shares also contributed, with Rio Tinto rising about 1.6%, Glencore up 1.9%, Anglo American adding around 2.5%, and Antofagasta and Fresnillo gaining more than 1%. Intertek shares increased more than 1.5% after the testing and inspection group extended the deadline for potential bidders to submit final offers to June 18. In contrast, Halma fell nearly 16% despite reporting higher annual profits and a strong start to the new financial year. Elsewhere, Wizz Air posted profit growth slightly ahead of expectations despite disruption to Middle East routes. Frasers Group also made a €2 billion offer to acquire the remaining stake in Hugo Boss, offering €38 per share.