London stocks advanced Friday, with the FTSE 100 up 0.16%, as a rally in metals shares offset a decline in retail sales and softer energy prices.
The index gained 14.3 points to 8,902.4, paring an earlier advance after July’s retail sales fell 0.5% month-on-month, the first drop since April. Non-food sales volumes dropped 1.3%, led by declines in clothing and household goods, while food sales rose 0.5% on hot weather and the World Cup. Annual growth slowed to 1.6% from 3.8% in June, according to the Office for National Statistics.
Mining equities led the gains, with Antofagasta up 4.3%, Glencore rising 2.2%, Endeavour Mining gaining 2.7%, Anglo American adding 2.7% and Fresnillo climbing 3.7%. Gold futures rose 1.1% to $4,623, while spot gold gained 1% to $4,566.32. Silver advanced 1.5% and copper added 1.4%. Brent oil eased 0.32% to $93.48 a barrel, while WTI fell 0.51% to $86.39.
The pound strengthened 0.15% against the dollar to 1.3649. Germany’s DAX fell 0.11% and France’s CAC 40 declined 0.09%.
Corporate updates included Hunting cutting its 2026 EBITDA guidance after first-half revenue and adjusted profit fell 6% and 21% respectively, citing weaker OCTG and Advanced Manufacturing activity due to the absence of KOC orders and delayed Middle East tendering.
Geopolitical tensions in the Strait of Hormuz continued to influence markets, with U.S. Central Command reporting it had redirected 67 vessels, disabled three and boarded two to enforce the Iran blockade as of August 20. China sources roughly half of its energy from the Gulf, underscoring the strait’s strategic importance.
