23.01.202609:04:50UTC+00FTSE 100 Attempts Gains on Friday, Set for Weekly Loss

The FTSE 100 showed mixed performance on Friday, managing to erase some earlier losses, yet still ending the week over 0.7% lower. Notably, oil giants BP and Shell saw increases of 1.3% and 0.7%, respectively, as crude oil prices bounced back from Thursday's steep decline. In the mining sector, Endeavour climbed as gold prices hit record highs for the fifth consecutive session. Defense heavyweights like Rolls Royce and BAE Systems also saw gains, anticipated to benefit from heightened defense spending in response to recent geopolitical events in Europe and the UK. Supporting the index further, consumer stocks were buoyant, with JD Sports, Tesco, and Marks and Spencer rising after December retail sales surpassed expectations. Conversely, Babcock shares dropped by over 2% following the announcement of a CEO change, even as the company confirmed its financial outlook.