Friday Morning Markets: FTSE Inches Up as Gold Rallies and Miners Lead

London shares are trading higher on Friday, with the FTSE 100 up 0.3% and the FTSE 250 adding 0.2%, tracking modest gains across Europe as the DAX and CAC 40 rose 0.1% and the Euro Stoxx 50 climbed 0.4%.

Miners dominate the FTSE 100 risers board this morning as gold has jumped 1% to $4,562 an ounce, and is set to register its third straight weekly gain.

When it comes to geopolitics, US Treasury Secretary Scott Bessent said Washington will impose the “toughest sanctions in history” on Iran and is said to b pressing China for support.

Brent crude has slipped 0.3% to $93.54 and WTI has eased 0.5% to $86.44, pulling back after recent gains.

On the data front, UK retail sales rose 1.6% year-on-year in July, undershooting forecasts, while public sector borrowing came in higher than expected at £1.80 billion.

Antofagasta leads the FTSE 100 gainers, up 4.21%, followed by Fresnillo (+3.79%), JD Sports Fashion (+2.82%), clawing back some of Thursday’s guidance-cut losses, and Anglo American (+2.72%).

On the downside, Experian (-1.92%), Smith & Nephew (-1.91%) and GSK (-1.69%) are the biggest FTSE 100 fallers so far.

In the FTSE 250, Hochschild Mining (+4.26%) is riding the gold and silver rally, Domino’s Pizza Group has added 3.38% and Schiehallion Fund has risen 3.27%.

The standout loser is Hunting, down 14.47% after first-half results showed revenue falling 6% to $497 million and adjusted profits sliding, despite the group raising its dividend.

A.G. Barr (-1.33%) and Worldwide Healthcare Trust (-1.26%) also fell.

Elsewhere, Knights Group announced the acquisition of law firm Moore Barlow LLP, Spire Healthcare confirmed a further extension of the PUSU deadline for Toscafund’s takeover approach to 3 September and pushed back its interim results date, and Trellus Health said it intends to appoint administrators.