FX.co ★ FTSE 100 Rises on Friday

On Friday, the FTSE 100 index recorded a 0.5% rise, driven by robust performances in the banking and mining sectors despite weaker UK macroeconomic data. Notably, Standard Chartered surged by over 2%, with HSBC increasing by 1.8%, Barclays improving by 1.4%, and NatWest climbing more than 1%. The precious-metal mining sector also excelled, as Fresnillo jumped approximately 4% and Endeavour rose by 2%, while Anglo American, Antofagasta, and Rio Tinto saw gains in the range of 1 to 2%. The market effectively overlooked fresh indicators of economic fragility: UK GDP decreased by 0.1% in October, mirroring September’s downturn, indicating a fourth consecutive month without growth. In this period, the services sector contracted by 0.3%, and construction fell by 0.6%, partially counterbalanced by a 1.1% revival in industrial production. This dour data bolstered predictions for potential interest rate reductions by the Bank of England in 2026, thus enabling the equities market to sustain its positive trajectory.