The FTSE 100 pared early gains to close virtually flat at 10,601 on Friday, but staying near the highest in a month, driven by cautious optimism ahead of weekend US-Iran talks. Deep divisions remain, however, starting with the issue of the Strait of Hormuz, coupled with the inclusion of the Lebanon on the ceasefire agreement. Metals and mining stocks, along with retailers, provided the main support, while the aerospace and defense sector struggled. In equities, Convatec Group led the gains, rising 4.5%, followed by Endeavor Mining and Antofagasta, each rising over 3%. Kingfisher and Burberry Group also advanced solidly, up 2.7% and 2.1%, respectively. On the flip side, Metlen Energy & Metals plunged nearly 9% following weak annual results reported the previous day. Defense names like BAE Systems and Babcock International fell 3.3% and 1.7%, respectively. Compass Group lost 1.9% after a weak update from French rival Sodexo. For the week, the index rose 1.6%.
