09.10.202615:57:09UTC+00FTSE 100 Closes at Over 1-Week High

The UK's FTSE 100 extended gains on Friday, closing up about 1.1% at 10,560, its highest level since September 30 and ending a two-day losing streak. Market sentiment improved as oil prices retreated, easing pressure on bond yields, after Trump signaled a pause in potential US military action against Iran ahead of next month's midterm elections and described ongoing talks as “productive”.

Software-related stocks were among the session’s strongest performers, with Relx, Sage Group and Experian climbing 4.8%, 4.3% and 4.2%, respectively. Mining stocks also advanced sharply, supported by firmer copper prices, with Antofagasta jumping more than 5%. Fresnillo gained over 3%, tracking strength in silver and gold.

In contrast, telecom stocks came under pressure after SpaceX agreed to acquire spectrum to boost Starlink Mobile’s US expansion plans, dragging down Airtel Africa (-6.3%), Vodafone (-4.9%) and BT Group (-2.4%). Over the week, the FTSE 100 added 0.9%.