The FTSE 100 rose 0.6% on Friday to a record high, advancing over 2% for the week, led by banks and energy stocks. NatWest jumped 2.7%, HSBC gained 1.7%, and Barclays added 1.4%, while oil majors Shell (+1.2%) and BP (+0.5%) also climbed. AstraZeneca rose over 1%, but GSK and BAT fell 1.5% and 1%, respectively. In corporate news, Princes Group announced plans to list on London’s main market, a boost for the UK’s IPO pipeline. The food company, best known for tinned fish and licensed brands like Flora and Branston pickle, reported 2024 revenues of £2.1 billion and adjusted earnings of £122.3 million. Meanwhile, JD Wetherspoon posted a profit rise and reported like-for-like sales growth of 5.1% in the year to July, with momentum easing but still above industry average. Chairman Tim Martin noted cost pressures, especially from energy, could weigh on results. Globally, markets continued to watch the US government shutdown, now in its third day.