The FTSE 100 rose 0.5% on Friday, supported by gains in banks, while declines in metals prices weighed on miners. Banking shares benefitted from lower expectations of global rate cuts and a broader shift toward risk assets. Traders reacted to President Trump’s nomination of Kevin Warsh to succeed Jerome Powell as Federal Reserve chair. Markets view Warsh as a more hawkish pick who would support lower interest rates. Lloyds Banking gained 2.5%, Natwest 1.8%, Barclays 1.3%, Standard Chartered 1%, and HSBC Holdings 0.8%, while Diageo rose 2.5%. In contrast, mining stocks fell as gold, silver, and copper prices dropped, with Endeavour down 7%, Fresnillo almost 6%, and Antofagasta, Anglo American, Glencore, and Rio Tinto down between 2% and 3.5%. On a weekly basis, the FTSE 100 increased 0.6%, while for January, the index was up roughly 2.7%.