The FTSE 100 traded close to unchanged on Friday, with declines in metal and oil prices impacting mining and energy stocks negatively. Gains in banking shares partially offset these losses. The index remained up on both a weekly and monthly basis.
- The FTSE 100 traded near the flatline.
- Falling metals and oil prices weighed on miners and energy stocks.
- Gold, silver, and copper prices decreased.
- Endeavour, Fresnillo, and Antofagasta saw significant declines.
- Glencore, Rio Tinto, and Anglo American also experienced losses.
- Shell and BP were pressured by lower crude prices.
- Banking shares, including HSBC, Barclays, Lloyds, NatWest, and Standard Chartered, rose.
- Rolls Royce added around 1.6%.
- The FTSE 100 was up about 0.4% weekly.
- The FTSE 100 was up roughly 2.6% for January.
The performance of the FTSE 100 appears to be driven by opposing forces. Weakness in commodity prices is negatively affecting companies in the mining and energy sectors, while strength in the banking sector is providing a counterbalance. Overall, despite daily fluctuations, the index shows positive momentum both on a weekly and monthly basis.