London’s blue-chips are in positive territory on Friday, with the FTSE 100 up 0.3% and the FTSE 250 adding 0.4%, tracking a broadly firmer European tape.
The DAX rose 0.6% and the Stoxx 50 gained 0.6%, while the CAC 40 was flat.
Sentiment remained fragile, however, as investors weigh US-Iran tensions, with Tehran reportedly pushing Washington to re-enter a nuclear MOU ahead of the US midterms. There were also reports that Tehran has offered Washington a phased seven-day proposal to reopen the Strait of Hormuz.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Spot gold is steady, up 0.1% at $4,278/oz, while silver dipped 0.1% to $63.80.
Oil markets moved lower as Brent slipped 0.2% to $106.35 amid mixed signals on Middle East supply risk, while WTI declined 1% to $93.68. Sterling ticked up 0.1% against the dollar to 1.3229.
On the corporate front, Lloyds Banking Group confirmed completion of its £1.75bn share buyback, having repurchased over 1.7 billion shares since January.
Harworth Group surged 4.49% after Peel Holdings’ vehicle raised its takeover offer to a “best and final” 187p per share, valuing the property group at roughly £632m and securing board recommendation.
CVS Group (+4.10%) and Hill & Smith (+3.82%) also featured among the FTSE 250’s top gainers, with Hill & Smith hitting a fresh 52-week high.
Among FTSE 100 movers, Computacenter (+2.67%), Smiths Group (+2.36%) and Endeavour Mining (+1.91%) lead the risers.
On the downside, Ithaca Energy fell 3.04%, while BP dropped 2.52% following a Reuters report that the oil major is eyeing Devon Energy assets amid renewed US M&A ambitions; Shell slipped a more modest 0.5%. British American Tobacco eased 0.97%.
In the FTSE 250, Raspberry Pi Holdings tumbled 9.27%, giving back a large chunk of Thursday’s surge, while Harbour Energy (-2.42%) and WAG Payment Solutions (-2.15%) also lagged.
