07.08.202607:28:30UTC+00FTSE 100 Edges Up, Set for Small Weekly Gain

The FTSE 100 inched higher on Friday, holding within a tight band of roughly ±0.5% as investors remained cautious amid uncertainty over a durable agreement to reopen the Strait of Hormuz. Firming oil prices lent support to energy shares, with Brent crude advancing for a second consecutive session. BP gained more than 1%, while Shell was little changed.

Precious metals miners also drew strength from rising gold prices, with Fresnillo among the standout performers, climbing more than 2.5%. Among blue-chip names, AstraZeneca and BAE Systems each added around 1%, and GSK and BAT also traded in positive territory.

JD Sports rose after announcing the appointment of Peter Agnefjäll as chairman, effective 1 September. In the housing market, Lloyds reported that UK house prices were flat in July following a 0.2% increase in June, leaving the average property value at £299,253. Annual price growth eased to 0.1%, its weakest rate since November 2023. For the week, the FTSE 100 remains only slightly higher overall.