FTSE 100 Ends Week & Month in Green Territory; Anglo American and THG Notable Gainers

The FTSE 100, London's premier stock index, experienced a marginal gain of 0.07% to close at 8,287.30 in the afternoon trading session on Friday. The index gained 0.31% on the week, and despite being mainly rangebound on the day, there were several standout performers on the index, as well as some notable declines.

Anglo American shares added 5.83% as the mining company gained a rating upgrade from the investment bank Jefferies from ‘hold' to ‘buy'. In addition, Jefferies increased the price target on Anglo American's shares to 2,850p, up from 2,500p. Renewed comments on potential M&A moves also got markets taking a closer look at AAL.

THG were another big gainer on the day, with shares gaining 6.6%. Another name on the M&A radar today was TI Fluid Systems (LON: TIFS), as the £1billion acquisition by ABC Technologies saw shares gain 1.8%.

On the other hand, BAE Systems, the defence and aerospace giant, did not fare as well. BAE Systems' stock propped up the laggards list with a decline of 4.88%. Bank of America Merrill Lynch downgraded its rating to ‘underperform' from ‘neutral'. This downgrade was partially attributed to the potential threat of US government spending cuts, which could affect BAE Systems' contracts and profitability.

In contrast, several firms faced declines on the index, such as Rentokil Initial, Prudential, and Coca-Cola HBC AG. These companies represent a diverse range of industries, from pest control and hygiene to financial services and beverage production, indicating that the day's losses were not confined to any single sector.

As the trading day wrapped up, the FTSE 100’s rangebound trading brought an end to the month of November, and with the index delivering gains of 2.2% leading into the last month of the year, and a potential Santa Claus rally, there will be plenty of interested eyes with earnings looming large next week.