Mining stocks lift FTSE 100 higher, though UK equities log weekly declines

Both FTSE indices, however, fell on a weekly basis, with the FTSE 100 down 1.7% and the FTSE 250 off 2.6% over that period.added 1.4%, tracking gold prices higher against a softer dollar as traders assessed the progress of the U.S. debt ceiling negotiations.on a deal to raise the U.S. government's $31.4 trillion debt ceiling for two years.

"There's a lot of caution going around about the UK economy and whether consumer spending can hold up," Chris Beauchamp, chief market analyst at IG Group, said . "It's come under pressure with people's budgets pressured and revived expectations of higher mortgage rates."

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