FTSE 100 Rises to 4-Month High

The FTSE 100 Index gained 21 points or 0.19 percent on Friday to close at 10673 points. Gains were led by Mondi (2.42%), Weir (2.33%) and Intermediate Capital (1.84%). Biggest losers were Intercontinental Hotels (-2.36%), Entain (-2.26%) and Pearson (-1.73%).

The FTSE 100 rose 0.3% to 10679 on Friday, the highest since March 2 and following a 1.7% advance on Thursday. Utility companies were among the best performers, with SSE climbing around 1.5%, National Grid adding 1.3%, Centrica expanding 1.1%, and Severn Trent rising over 0.5%. Also, mining stocks supported the upward trajectory, as precious metals miner Fresnillo rose more than 1%, while Anglo American advanced by over 1%. Overall market trading volumes were thin due to the US Independence Day public holiday closure. For the week, the UK index added 1.6%, following a 1.4% rise in the previous period.

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.