The FTSE 100 inched higher on Friday, marking its second consecutive monthly gain, though the index remains about 4.4% below its pre-war level. Market sentiment improved on encouraging news from the Middle East, following reports that the US and Iran had agreed to extend their ceasefire by 60 days, pending approval from President Donald Trump. Oil prices retreated on expectations that the truce might hold.
In equities, AstraZeneca rose about 0.3% after its blockbuster drug Imfinzi secured US approval for the treatment of early-stage bladder cancer. Defence names were also firmer, with BAE Systems up 0.5% and Rolls-Royce advancing 1.9%.
Among the major banks, HSBC gained 1.2%, Lloyds added 0.5% and Barclays climbed 1.9%. By contrast, Shell and Unilever both slipped more than 1%. British American Tobacco fell over 2.5%, while GSK declined by more than 1%.
