FX.co ★ FTSE 100 Extends Gains for Third Session

On Friday, the FTSE 100 index advanced by 0.2%, reaching approximately 9,200, marking a third consecutive day of gains. This movement reflected investors' reactions to recent economic data, while they also anticipated the upcoming US jobs report, which could influence the likelihood of a Federal Reserve rate cut later this month. Notably, UK retail sales volumes recorded a 0.6% monthly increase in July, surpassing the projected 0.2% rise. Additionally, data from Halifax indicated a 2.2% annual increase in house prices in August, exceeding the expected 2% growth. According to analysts, these figures suggest the UK economy began the third quarter with considerable momentum. However, potential tax increases in the November budget might lead households to reduce their spending. Early top performers among individual stocks included HSBC Holdings, up 1.2%, alongside a 1.6% rise in shares of Rio Tinto and Glencore, with Anglo American seeing a 2% increase. For the week, the benchmark index is poised for moderate gains.