The blue-chip index closed on Friday with its biggest weekly gain since February, led by banks and miners, as markets looked to a weekend meeting of the IMF which aims to bolster its war-chest to ease pressure on debt-ridden euro zone economies.
The FTSE 100 index <.FTSE> closed up 0.5 percent, rising 2 percent on the week, recovering early losses. Banks <.FTNMX8350> were among the best performers on the day, reflecting a wider rebound in European lenders <.SX7P>, which jumped 2 percent.
Lloyds Banking Group
The equity markets have held up fairly well to slightly more questionable U.S. data and uncertainty on Spanish bonds... we have argued that it is quite a bullish sign that the market has held up as well as it has and we think the market will move forward reasonably quickly from here, said Ewen Stewart, UK Strategist at Investec.
Growth-sensitive mining stocks added 8 points to the index, led by Anglo American
Oil and gas stocks <.FTNMX0530> had dragged on the index as the highest sectoral faller before slightly paring losses, which were led by BP
British oil explorer Rockhopper
CHIPS ARE DOWN
Chip designer ARM Holdings
The chip shortage is negative for the iPhone 5 and therefore negative for Apple
Looking ahead to Monday, the markets will focus on the results of the IMF meeting and Sunday's first round of French presidential elections.
Many investors are wary about the expected eventual election of a Socialist French president and some have placed early bets that bond yields will rise, the euro will fall and equities will be more volatile.
(Editing by Nigel Stephenson)