The primary UK indexes appeared poised for a fourth consecutive week of gains on Friday, as a surge in precious metal miners mitigated concerns regarding the potential for a lasting peace agreement between the United States and Iran.

The blue-chip FTSE 100 rose 0.6% to 10,933.67 points by 1009, while the midcap FTSE 250 added 0.3% to 24,771.10 points. Both were on track for weekly gains, with the midcap index poised for its largest weekly increase since mid-April.

• UK-listed shares of Hochschild, Fresnillo, and Endeavour Mining rallied in the range of 2.5% to 8.3%, as gold prices jumped against a sluggish dollar.
• Meanwhile, fresh concerns surrounding the reopening and potential Iranian bans and fines on vessels it deems hostile kept oil prices supported.
• Investors will pay keen attention to the U.S. monthly non-farm payrolls report at 1230 for indications
• regarding the robustness of the U.S. labour market and the direction of monetary policy.
  Traders anticipated that the U.S. Federal Reserve would increase interest rates by 25 basis points at least once this year, while assigning a 33% probability to a second increase by year-end, according to LSEG data.
• Britain’s housing market experienced a deceleration in July, reflected in both monthly and annual price increases, as elevated borrowing costs and the uncertainty stemming from the Iran conflict overshadowed market dynamics, according to mortgage lender Lloyds.
• Investors were fully pricing in a quarter-point increase in the main bank rate in December. The central bank maintained interest rates at their current level last week, indicating that it required additional time to assess the potential impact of the conflict in the Middle East on inflationary pressures.
• The UK’s housing stocks index dipped 0.6%.
• Among midcap stocks, Oxford Biomedica tumbled 18% after the cell and gene therapy manufacturer cut its 2026 revenue forecast, citing operational delays at a U.S. site and deferred client orders.
• Engineering company Goodwin has opened a new tab, gaining 10% as it announced that it is exploring a potential sale of parts of its mechanical engineering business while embarking on a broader strategic review.