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The FTSE 100 inched higher on Friday, as strength in financial stocks helped counter broad-based weakness in the energy, mining, healthcare and consumer sectors. HSBC and Lloyds Banking Group gained more than 1%, with Barclays, NatWest and Standard Chartered also advancing.
Among miners, Antofagasta traded slightly higher after restarting operations at its Los Pelambres copper mine, which had been disrupted by adverse weather. In consumer goods, Reckitt Benckiser also posted modest gains after agreeing to sell its Russian hygiene business to Arnest Management, a transaction expected to result in a post-tax loss of about £175 million.
By contrast, energy majors Shell and BP came under pressure as oil prices eased back following their recent rally.
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On the macroeconomic front, UK retail sales surprised on the upside, rising 1% in June compared with consensus expectations for a 0.3% decline. Excluding fuel, sales climbed 1.1%, far exceeding forecasts for a 0.5% fall. The FTSE 100 remained on course for a weekly gain of roughly 0.7%.
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