The FTSE 100 closed at a record high on Friday, rising 0.6% to 10,909.83, driven by strong gains in mining stocks as metal prices surged. The index approached the 11,000 mark for the first time, while the pound fell 0.2% against the dollar to 1.3453 following a Green Party by-election victory in Manchester's Gorton and Denton constituency.

The pound's decline came after the Green Party secured a surprise win in what had been a Labour stronghold, adding political uncertainty to currency markets. European markets traded mixed, with Germany's DAX up 0.1% and France's CAC down 0.5%. Mining companies led the rally, benefiting from higher copper and other commodity prices that boosted investor sentiment toward resource-heavy stocks.

Individual movers included Rathbones Group, which rose over 5% after reporting a 4.6% increase in underlying profit and extending its share buyback program by £20 million. International Airlines Group shares fell 7% despite beating profit expectations, while Melrose Industries dropped after issuing 2026 profit guidance below analyst forecasts. UBS maintained a neutral stance on UK equities, citing limited fundamental improvements despite the market's strong start to 2026.