On Friday, the FTSE 100 climbed by 0.6% to reach a record high, accruing a weekly gain exceeding 2%, driven primarily by advancements in banking and energy stocks. Notably, NatWest surged 2.7%, while HSBC and Barclays experienced increases of 1.7% and 1.4%, respectively. Among oil giants, Shell rose by 1.2% and BP gained 0.5%. Pharmaceutical company AstraZeneca saw a rise of more than 1%, whereas GSK and BAT recorded declines of 1.5% and 1%, respectively.
In the corporate arena, Princes Group unveiled its intention to list on London’s main market, providing a positive impetus to the UK IPO pipeline. Renowned for its tinned fish and licensed brands such as Flora and Branston pickle, the food company disclosed 2024 revenues amounting to £2.1 billion, alongside adjusted earnings of £122.3 million.
Meanwhile, JD Wetherspoon announced an increase in profits and reported a 5.1% growth in like-for-like sales for the year ending in July, noting that while growth momentum has slowed, it remains above the industry average. Chairman Tim Martin highlighted that cost pressures, particularly from energy, could impact future results.
On the global stage, markets remained attentive to the ongoing US government shutdown, now extending into its third day.
