LONDON: The blue-chip FTSE 100 index rose for a second consecutive week on Friday, driven by heavyweight oil and mining stocks, while chemicals gained after a US-based investor doubled its stake in British chemicals maker Johnson Matthey.
The FTSE 100 index rose 0.3%, while the midcap FTSE 250 index dipped 0.4%. Both indexes clocked their biggest weekly gains in six weeks.
Industrial metal miners added 1.7%, tracking optimism around China’s upbeat economic readings and efforts to shore up investor sentiment. The subindex logged its highest weekly gains in seven weeks.
Heavyweight energy stocks gained 1.8%, as oil prices jumped on expectations of tightening supplies.
Chemical stocks were up 2.5%, marking their best weekly gains in over seven months, as the investment arm of New York-based industrial firm Standard Industries doubled its stake in Johnson Matthey.
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