UK shares log weekly gains as banks, miners offset energy drag

Standard Chartered

25/09/2026 17:06

Updates to markets close
Sept 25 (Reuters) - London's FTSE was muted on Friday but notched a second consecutive weekly gain, as declines in energy shares from weaker oil prices were offset by gains in banks and miners.
The blue-chip FTSE 100 index .FTSE closed 0.14% higher at 10,695.25 points, leaving it in positive territory for the week. The midcap FTSE 250 .FTMC climbed 0.44%, also marking a weekly gain. 
Heavyweight banks .FTNMX301010 climbed 1.3%, with Barclays BARC.L up 1.6%, while Lloyds Banking LLOY.L and Standard Chartered STAN.L added around 1.7% and 2.5% respectively.
Precious metal miners .FTNMX551030 jumped 2% as gold and silver prices rose after dropping sharply earlier this week. GOL
Oil prices eased after two sessions of gains as investors weighed hopes of a U.S.-Iran truce against risks to supply from escalating Houthi attacks on Saudi Arabia. Energy giant Shell SHEL.L lost 0.8%. O/R
BP.L was down 2.3%. Reuters reported on Thursday BP is weighing a potential acquisition of US-based Devon Energy's DVN.N operations in South Texas. HSBC upgraded the stock to "buy" from "hold". 
Global government bond yields eased a touch after jumping earlier this week. The British benchmark 10-year gilt GB10YT=RR yield inched lower to 5.3810% after hitting a more than one-week high earlier this week.
A survey showed British consumer confidence unexpectedly struck a more than two-year high this month as households grew more optimistic about their personal finances, adding to recent signs of resilience in the economy.
Bank of England Governor Andrew Bailey said that persistently high energy prices would make it harder for the central bank to leave interest rates on hold, underlining a recent shift in tone towards higher borrowing costs.
Investors are expecting at least one 25-basis-point hike by the BoE this year, according to data compiled by LSEG. 
Among stocks, land and property regeneration company Harworth Group HWG.L rose 5.1% after Peel Holdings-backed Goodweather Holdings raised its final offer to 187 pence per share. 
Oil and gas producer Capricorn Energy CNE.L gained 13.9% after Genel Energy GENL.L raised its cash offer for the company to $436 million, topping a rival offer from DNO DNO.OL. 

 (Reporting by Anand Gopal in Bengaluru; Editing by Vijay Kishore and Louise Heavens)
 ((AnandGopal.R@thomsonreuters.com))