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Britain's FTSE 100 index rose on Friday, supported by gains in HSBC Holdings that lifted financial stocks. Investors also monitored rising oil prices and escalating tensions in the Middle East.
The FTSE 100 Index was little changed this week as investors assessed the escalating UK-Iran crisis, the ongoing US earnings season, and a series of key UK economic releases. Market participants digested the latest jobs, inflation, and retail sales data for July, all of which could influence the Bank of England's next policy decision.
Britain said on Thursday its armed forces were ready to protect the country from any attack after Iran's Revolutionary Guards issued a warning over allowing U.S. bombers to fly from UK bases.
Britain's FTSE 100 was little changed on Thursday. Gains in energy shares were offset by weakness in precious metal miners.
UK stocks closed lower on Monday as investors weighed continued geopolitical tensions in the Middle East alongside the appointment of Andy Burnham as the United Kingdom's new prime minister and the formation of his cabinet. The FTSE 100 declined 0.7%, marking its biggest one-day fall in about two weeks.
London's FTSE 100 edged lower on Monday as escalating tensions between the United States and Iran raised concerns over shipping through the Strait of Hormuz. Investors also turned their attention to Britain's political transition as Andy Burnham prepared to take office as the country's new prime minister.
The FTSE 100 Index has held steady in the past few days, reaching its highest point since July 8. It has jumped by nearly 10% from its lowest point in March this year.
As renewed conflict in the Gulf drives up oil prices, airline investors and industry executives see mounting signs that Europe's financially weaker carriers may be headed for a shakeout.
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