05.06.202615:51:35UTC+00FTSE 100 Outperforms Europe

The FTSE 100 inched higher on Friday, outperforming other major European indices. Defensive names led the advance: AstraZeneca and GSK each gained around 2%, while Unilever and British American Tobacco climbed roughly 2.5%. Defence contractor BAE Systems also added close to 1%.

By contrast, mining stocks were sharply weaker. Rio Tinto slipped about 2.8%, Glencore fell 3.5%, Anglo American declined 5%, Antofagasta dropped 5.3% and Fresnillo retreated 5.7%.

On the macroeconomic front, Halifax data showed UK house prices edging down 0.1% in May, following a similar decline in April, bringing the average property value to £298,806. Annual price growth for first-time buyers slowed to 0.3%, though Halifax noted that lending conditions are becoming more flexible and overall housing market activity remains broadly stable.

Despite Friday’s advance, the FTSE 100 finished the week down 0.3%.