The FTSE 100 inched higher on Friday, trading within a tight ±0.5% band as investors remained cautious amid uncertainty over the durability of an agreement to reopen the Strait of Hormuz. Precious metals miners outperformed: Fresnillo and Endeavour advanced 5.3% and 4.1%, respectively, while Rio Tinto and Anglo American gained around 1%–1.5%. Diageo rose more than 3%, extending Thursday’s 5.6% jump after the group announced a restructuring plan.
In contrast, Shell and BP weakened as oil prices swung intraday and stayed lower on the week. JD Sports added more than 2% following the appointment of Peter Agnefjäll as chairman, effective 1 September. Lloyds, meanwhile, reported that UK house prices were flat in July, with annual growth slowing to 0.1%, the weakest rate since November 2023.
Elsewhere, softer US employment data pared back expectations of a Federal Reserve rate hike next month. The FTSE 100 ended the week marginally higher overall.
