It moved 6.23 factors greater, or 0.08%, to shut at 7,608.08.
European shares had a stronger session, partially recovering losses from earlier within the week. Germany’s Dax jumped 0.41% and France’s Cac 40 climbed 0.26%.
Craig Erlam, senior market analyst for OANDA, stated: “European stock markets are performing well at the end of the week after spending much of it in the red on the back of fresh interest rate concerns.
“A determination to drive home the message that interest rates will stay higher for longer appears to have finally wobbled investors.”
He added: “The oil price rally has continued this week although there are some signs that it’s starting to run on fumes as we go into the weekend.”
Michael Hewson, chief market analyst for CMC Markets UK, agreed that rising oil costs, following Russia and Saudi Arabia’s resolution to cut back provide, has added to traders’ worries over persistent international inflation.
“With 100 US dollar (£81.86) oil now looking inevitable, and interest rates likely to remain higher for longer to combat this inflationary impulse, the pressures on consumer incomes look set to increase further, and that’s before we even consider the impact of another US government shutdown,” he stated.
“We are already seeing the consequences of the squeeze on consumer incomes with industrial action by workers keen to try and restore some of the hit to their disposable incomes caused by the rise in prices and rate rises of the last couple of years.”
The worth of Brent crude oil retreated from earlier highs on Friday and was down 0.07% to 95.31 US {dollars} (£78.02) per barrel.
It was a blended begin to buying and selling within the US, with the S&P 500 up 0.15% and Dow Jones down 0.2% by the point European markets closed.
The pound was up by round 0.1% towards the US greenback to 1.221, and down by about 0.1% towards the euro to 1.154.
In firm news, shares in Severn Trent moved greater after the water provider stated it was in search of to lift £1 billion to assist help a metamorphosis plan which can create new jobs throughout the midlands.
The FTSE 100-listed agency harassed that it’s “maintaining financial resilience” because it unveiled plans to spend £12.9 billion in enhancing its community and repair over the approaching years, together with lowering leakage. Its share worth closed 4.4% greater.
TGI Fridays proprietor Hostmore noticed its share worth surge on Friday after it reported plans to additional reduce prices throughout the enterprise and stated it was starting to see inflationary pressures ease.
The group posted a drop in its UK earnings however stated it had managed to avoid wasting more cash than beforehand anticipated over the primary half of the monetary 12 months after shutting down or enhancing loss-making eating places. Its share worth bounced by 14.9%.
The largest risers on the FTSE 100 had been JD Sports, up 6.85p to 149.7p, Severn Trent, up 100p to 2365p, Croda, up 203p to 4915p, United Utilities , up 37.2p to 948.2p, and Ocado, up 19.4p to 600.4p.
The largest fallers on the FTSE 100 had been Hargreaves Lansdown, down 16.2p to 773.2p, Shell, down 54.5p to 2606p, BAE Systems, down 20.7p to 997.8p, BP, down 9.7p to 531.4p, and Flutter Entertainment, down 165p to 13390p.
