By Carla Mozee, MarketWatch

Still on track for weekly win

U.K. stocks struggled to find a firm footing Friday, as investors waited to hear what hints U.S. Federal Reserve Chairwoman Janet Yellen may drop about the likelihood of an interest-rate increase in June.

The FTSE 100 rose 0.1% to close at 6,270.79, after darting between small gains and losses throughout the session.

For the week, the benchmark ended with a 1.9% gain, after a rally that was partly driven by oil moving above $50 a barrel, albeit just for part of a day.

Mining shares put in the worst performance sector-wise on Friday, tracking most metals lower. The slide came as the dollar rose against other major currencies (http://www.marketwatch.com/story/dollar-holds-tight-as-investors-wait-for-yellen-to-speak-later-2016-05-27) ahead of Yellen's appearance at Harvard University later Friday for the annual Radcliffe Day celebration. While investors will be watching for any comments she has on the timing of interest rates, Fed observers caution that she may hold off from a major pronouncement on policy.

Read:Fed's Yellen may send interest-rate message by not making one (http://www.marketwatch.com/story/feds-yellen-may-send-interest-rate-message-by-not-making-one-2016-05-25)

Iron ore heavyweight Rio Tinto PLC (RIO) (RIO) (RIO) fell 0.3%, Glencore PLC (GLEN.LN) lost 1.2%, and Anglo American PLC (AAL.LN) gave up 2.7%. The company said it named Bruce Cleaver as chief executive of its De Beers Group diamond unit, (http://www.marketwatch.com/story/anglo-american-appoints-new-de-beers-ceo-2016-05-27-2485276) effective July 1.

Among energy shares, Royal Dutch Shell PLC (RDSB.LN) (RDSB.LN) and BP PLC (BP.LN) (BP.LN) each fell by 0.7% as oil prices slipped, trading below $50 a barrel (http://www.marketwatch.com/story/oil-spends-less-than-a-day-above-50-as-investors-cash-in-ahead-of-opec-2016-05-27).

Banks supported the index, with shares of Royal Bank of Scotland Group PLC (RBS.LN)(RBS.LN) up 1.1%, Barclays PLC (BCS) (BCS) rising 0.8% and HSBC Holdings PLC (HSBA.LN) (HSBA.LN) (HSBA.LN) 0.6% higher.

U.K. stocks will be closed for trade on Monday due to the late May bank holiday.

 

(END) Dow Jones Newswires

May 27, 2016 12:16 ET (16:16 GMT)

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