UK shares set for weekly gains as oil prices retreat

By Reuters News10:12 (UTC), 25 September 2026 Updated

Sept 25 (Reuters) - The main UK stock benchmarks rose on Friday and were set for weekly gains, as a retreat in crude oil prices helped lift risk appetite, with banks and mining shares leading the day's gains.

The blue-chip FTSE 100 index .FTSE rose 0.41% to 10,723.98 points by 0952 GMT, while the midcap FTSE 250 .FTMC climbed 0.71%, with both indexes on track for a second consecutive weekly gain.

Heavyweight banks .FTNMX301010 climbed 1.4%, with HSBC HSBA.L up 1.3%, while Lloyds Banking LLOY.L and Standard Chartered STAN.L each added around 2%.
Precious metal miners .FTNMX551030 jumped 2.5% as gold and silver prices rose after dropping sharply earlier this week.
Industrial metal miners .FTNMX551020 climbed 1.3% as copper prices nudged higher. Miners Glencore GLEN.L climbed 1.9% and Anglo American AAL.L gained 1.6%.
Oil prices retreated after two sessions of gains, with investors weighing hopes of a US-Iran truce against the risk that stepped-up Houthi attacks on Saudi Arabia could disrupt supply.
Energy giants Shell SHEL.L lost around 1% and BP BP.L shed 3%.
Reuters reported that BP is weighing a potential acquisition of US-based Devon Energy's DVN.N operations in South Texas.
Global government bond yields eased a touch after jumping earlier this week. The British benchmark 10-year gilt yield inched lower to 5.3682% after hitting a more than one-week high earlier this week.
British consumer confidence unexpectedly struck a more than two-year high this month as households grew more optimistic about their personal finances, according to a survey on Friday, adding to recent signs of resilience in the economy, market research firm GfK said.
Among stocks, land and property regeneration company Harworth Group HWG.L rose 4.9% after Peel Holdings-backed Goodweather Holdings raised its final offer to 187 pence per share
Oil and gas producer Capricorn Energy CNE.L gained 12.4% after Genel Energy GENL.L raised its cash offer for the company to $436 million, topping a rival offer from DNO DNO.OL