FTSE 100 hits record near 10,970, set for 2.2% weekly gain

The FTSE 100 rose more than 0.5% on Friday to a record high near 10,970, leaving the UK blue-chip index on course for a weekly gain of about 2.2% and a monthly rise of roughly 4.5%, its strongest showing since February. Markets were also tracking weaker oil prices and renewed volatility in semiconductor stocks, two themes that can influence broader risk appetite. NatWest climbed nearly 4% after lifting its full-year guidance and outlining a share buyback with its 2026 annual results. J Sainsbury added more than 3% after agreeing to sell its Argos business to Swift Partners for at least £120 million. Declines were led by Pearson, which fell almost 4% despite reaffirming its outlook, IG Group, which dropped more than 5% after unveiling a deal worth up to $1.3 billion to buy Underdog, a US sports prediction platform, and IAG, which lost around 1.6% after missing revenue estimates and warning on higher fuel costs and extended Middle East route suspensions.