FX.co ★ FTSE 100 Trades Cautiously Higher

On Friday, the FTSE 100 traded steadily with a slight incline, poised to achieve gains for every day of the week. The move was largely fueled by stocks tied to resources, with notable contributions from oil giants Shell, up by 0.8%, and BP, up by 1.2%, as well as miners such as Glencore, which rose by 2.8%, Rio Tinto, up by 1.5%, and Anglo American, increasing by 2.7%. Notably, miners reported gains in spite of China's economic slowdown, as the July decline in Chinese steel and coal output suggested the possibility of supply-related price support. Oil stocks also saw an uptick, despite the drop in crude prices. In the realm of corporate developments, AB Foods confirmed its decision to acquire Hovis from Endless, with plans to integrate it with its Kingsmill brand within Allied Bakeries. The acquisition aims to enhance operational scale, reduce costs, and foster product innovation, addressing the evolving consumer preferences in the bread market. On the global stage, investors are closely watching the eagerly anticipated meeting between US President Donald Trump and Russian President Vladimir Putin.