FTSE 100 Edges Higher On Mining, Banking Strength

(RTTNews) - U.K. stock market's benchmark index FTSE 100 was modestly higher a little past noon on Friday, led by gains in mining and banking sectors. Energy stocks shed ground as oil prices retreated amid renewed hopes a fresh proposal submitted by Iran to the U.S. will help end the Middle East conflict and pave the way for the reopening of the Strait of Hormuz. The FTSE 100 was up 27.95 points or 0.26% at 10,707.94 a little while ago. The index had advanced to 10,754.25 earlier in the session. Brent crude futures fell to $97.81 a barrel and were at $98.34 a little while ago, down nearly 2% from previous close. Miners Fresnillo and Endeavour Mining gained 2.8% and 3%, respectively. Antofagasta moved up 1.7%, Anglo American Plc gained 1.