The FTSE 100 advanced for a second consecutive session on Friday, achieving its highest level since early March and approaching the record high of 10911 set on February 27. Utility companies anchored the day’s gains, with SSE climbing approximately 2.5%, National Grid increasing by 1.5%, Centrica expanding by 1.1%, and Severn Trent rising by more than 0.5%.

Mining stocks similarly bolstered the upward trajectory, with precious metals miner Fresnillo experiencing a surge of more than 2%, while copper producers Antofagasta and Anglo American both recorded advances exceeding 1%. This positive market momentum mirrored bullish sentiment across Asian markets following stronger-than-expected data from the Chinese services sector.

Furthermore, global investor sentiment was bolstered by a softer-than-anticipated US employment report, which successfully alleviated concerns regarding imminent Fed interest rate hikes. Meanwhile, overall market trading volumes were expected to stay subdued due to the closure for the US Independence Day public holiday.