The FTSE 100 Index Opens 0.77% Higher

The UK's FTSE 100 rose 0.9% on Friday, halting a two-day decline, led by software and mining stocks, while softer oil prices and some stabilization in bond yields calmed investors. Trump's remarks that the US would not attack Iran before next month's midterm elections, describing talks with Tehran as "productive", helped ease geopolitical concerns. Sage Group and RELX led the gains, rising 4% and 3.2%, respectively. Mining stocks also advanced strongly, with Antofagasta and Fresnillo gaining more than 3% each, supported by firm prices of copper, silver and gold. Tesco (+2.8%) gained following positive reactions from Deutsche Bank and Jefferies to its interim results, published a day earlier, which showed a 6.5% rise in profits and an improved annual outlook. Vodafone Group and Airtel Africa were the laggards, falling 3.8% and 3.4%, respectively, mirroring the broader sector decline across the European telecom sector. For the week, the index was set to gain about 0.7%.

The FTSE 100 Index is picking up 80 points or 0.77 percent on Friday. Gains are led by Fresnillo (3.27%), The Sage Group (3.16%) and Relx (3.08%). Biggest losers are Vodafone (-3.26%), Airtel Africa (-1.97%) and BT (-1.68%).

The FTSE 100 closed slightly lower at 10,441 on Thursday, holding the sharp decline from the previous session amid further pressure from the financial sector. Gilt yields surged to multi-decade highs in the longer end of the curve as higher energy prices exacerbated inflationary risks from fuel and power prices. Banks remained burdened by higher lending costs, with HSB, Lloyds, Barclays, NatWest, and Standard Chartered losing around 2%. Pharmaceutical giants also underwent pressure in the session with GSK sinking 3.1% and AstraZeneca losing 2.3%. On the other hand, Tesco gained 5.2% after first-half adjusted operating profit rose 6.3% to £1.78 billion, prompting the supermarket to raise its full-year guidance and increase its share buyback to £950 million.