The FTSE 100 climbed about 0.9% on Friday, nearing record levels, fueled by optimism over potential interest-rate cuts from the Bank of England, as weak December retail sales strengthened the case for monetary easing to support the UK economy. Traders are now pricing in three rate cuts this year, up from one earlier this week. Miners played a significant role in driving the index higher, with Glencore shares rallying over 3%, reaching a one-month high after reports of past discussions about a potential merger with Rio Tinto. Although talks between the two mining giants reportedly ended late last year, the news boosted sentiment, with Rio Tinto shares also gaining in London. Additionally, oil majors Shell and BP supported the index amid rising crude prices.
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