The FTSE 100 Index Opens 0.33% Higher

The FTSE 100 advanced for a second consecutive session on Friday, reaching its highest level since early March and moving closer to the record high of 10911 established on February 27. Utility companies anchored the day's gains, with SSE climbing around 2.5%, National Grid adding 1.5%, Centrica expanding 1.1%, and Severn Trent rising over 0.5%. Mining stocks similarly supported the upward trajectory as precious metals miner Fresnillo surged more than 2%, while copper producers Antofagasta and Anglo American both advanced by over 1%. This positive market momentum mirrored bullish sentiment across Asian markets following stronger-than-expected Chinese services sector data. Furthermore, global investor sentiment was bolstered by a softer-than-anticipated US employment report, which successfully alleviated concerns regarding imminent Fed interest rate hikes. Meanwhile, overall market trading volumes were projected to remain thin due to the US Independence Day public holiday closure.

The FTSE 100 Index is gaining 35 points or 0.33 percent on Friday. Leading the gains are Fresnillo (2.50%), SSE (2.50%) and Barratt Redrow (1.95%). Top losers are B&M European Value (-1.04%), Tesco (-1.02%) and Intercontinental Hotels (-0.94%).

The FTSE 100 rose 1.7% to 10653 on Thursday, the highest since April 17, driven by a powerful rally across defensive, pharmaceutical, and aerospace sectors. Pharmaceutical giants led the upward momentum with AstraZeneca jumping over 5% and GSK adding more than 4%, while defense majors secured heavy gains as BAE Systems surged 6.1% and Babcock International advanced 5.5%. Broad-based support from market heavyweights including Rolls-Royce, British American Tobacco, oil majors BP and Shell, alongside lenders HSBC and Lloyds Banking Group, further underpinned the index's advance. Also, Capricorn Energy agreed to be taken over by Genel Energy, while CMC Markets got an upgrade from analysts at Panmure Liberum after increasing its earnings guidance. Additionally, retailer Currys posted financial year earnings matching analyst estimates and announced the launch of a £50 million share buyback program.