The FTSE 100 closed the week at 9,967, slipping just 5 points (-0.05%) on the day, but still finishing slightly higher over the week.
Investor sentiment remained cautious, with markets continuing to track developments in the Middle East.
Oil prices were a key focus, with Brent crude rising for a third consecutive session, moving back above the $100 per barrel mark. Analysts say persistent doubts over a near-term US-Iran deal, along with ongoing military tensions, are keeping supply risks elevated, particularly around the Strait of Hormuz.
The result is a market stuck between resilience and uncertainty, with geopolitical risk continuing to dominate the outlook.
Banks and miners gain as rate hike bets rise
Mining stocks and banks moved higher, while housebuilders came under pressure as markets increasingly priced in further rate rises.
Traders are now almost fully expecting the Bank of England to deliver three interest rate hikes this year, shifting the outlook for different sectors.
Higher rates tend to support banks, which benefit from improved lending margins, while mining stocks have been buoyed by firm commodity prices.
In contrast, housebuilders fell, as rising borrowing costs weigh on mortgage demand and the housing market outlook.
