FTSE 100 rises on banks, commodity boost

London’s FTSE 100 index edged higher on Friday, led by gains in heavyweight banking and commodity stocks, while investors awaited key U.S. inflation data that has kept them on edge this week.

The blue-chip index rose 0.3% with banks adding more than 1%. HSBC Holdings (LON:HSBA) provided the biggest boost.

Miners and oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) also supported the index. [MET/L]

A rally in Asia put global equities on track for a seventh day of gains as investors bet the United States will lead the world out of the pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration. [MKTS/GLOB]

The domestically focused mid-cap FTSE 250 index advanced 0.2%.

AstraZeneca (NASDAQ:AZN) fell 0.8% even after the European Commission approved its Tagrisso drug to treat patients with a type of early-stage lung cancer.