FTSE 100 Climbs on Mining Stocks, Posts Mild Weekly Gain Amid Inflation Concerns

The FTSE 100 index in the UK closed higher on Friday, driven by gains in mining stocks. This allowed it to eke out a mild weekly gain after a tough week marked by rising tensions in the Middle East and growing inflation concerns.

The blue-chip index rose 0.6 per cent to close at 10,816.6 points. It also managed to clock a 0.6 per cent rise for the week. The midcap FTSE 250 climbed 0.9 per cent but marked its first weekly decline in six.

Precious and industrial metal miners performed well as gold and copper prices edged higher against a dollar weakened by the U.S. Treasury's bond buyback move. Antofagasta and Endeavour Mining led gains in the FTSE 100, rising 5.4 per cent and 4.1 per cent respectively.