FTSE 100 Boosted by U.S. Jobs Data and Metal Miners

London's FTSE 100 experienced a slight increase on Friday, driven by better-than-expected U.S. jobs data and gains in industrial metal miners. The index rose by 0.3%, with the mid-cap FTSE 250 also ticking up. Despite these gains, both indexes are on track for weekly declines due to earlier recession fears.

London's FTSE 100 inched higher on Friday, bolstered by unexpectedly strong U.S. jobs data that quelled recession concerns in the leading global economy. Industrial metal miners contributed significantly to the uptick, further driving recovery.

The blue-chip FTSE 100 index saw a rise of 0.3%, while the mid-cap FTSE 250 increased by 0.2% as of 0709 GMT. Despite these gains, both indexes are poised to post weekly declines for the second consecutive week.

Data released on Thursday revealed that weekly U.S. jobless claims fell more than anticipated, easing worries about the labor market and potential recession. Earlier weak economic data had spurred recession fears and triggered a major sell-off in stock markets on Monday.

On Friday, industrial metal miners led the gains in London, rising by 1.9% as copper prices rebounded and base metals benefited from rate-cut hopes and robust U.S. data. Real estate investment trusts and real estate sectors also saw a 1% increase.

Energy and precious metal miners gained 0.4% and 0.8%, respectively, fueled by rising oil prices and stabilized gold prices. Conversely, personal care, drugs, and grocery stocks experienced a decline of 0.4%.

Investors are eagerly awaiting next week's packed agenda, which includes inflation data from the U.S. and the UK, as well as Britain's gross domestic product numbers. Among other stocks, Hargreaves Lansdown rose 1.8% following its agreement to a £5.44 billion ($6.94 billion) takeover by a consortium.

Beazly emerged as the top gainer on the FTSE 100 for the second consecutive session, surging 2.3% after a 10% jump on Thursday.

(With inputs from agencies.)