Friday Morning Markets: FTSE 100 Edges Higher; Goodwin Soars, Oxford Biomedica Slumps

London’s blue-chip index nudged up 0.2% in early trading on Friday, tracking a broadly firmer mood across Europe, with the FTSE 250 flat. The DAX and CAC 40 both added 0.4%, while the Euro Stoxx 50 rose 0.3%.

Commodities have been strong movers as the US-Iran standoff continues…

Brent crude has climbed around 0.9% to $83.44 a barrel after Tehran reportedly published a draft plan to block shipping through the Strait of Hormuz to US and Israeli ships.

President Trump said Thursday he believes the conflict will end “pretty soon,” even as reports emerged of US munitions shortages. Spot gold jumped 1.2% to $4,292.

On the corporate front, JD Sports named Peter Agnefjäll, the former IKEA chief executive, as its incoming Chair from 1 September, succeeding interim Darren Shapland.

Renewables Infrastructure Group’s (TRIG) interim results showed progress on its £400m capital realisation plan, including the £155m sale of its Beatrice offshore wind stake.

In oil, Norway’s DNO revealed a possible 69p-a-share cash approach for Genel Energy, a 38% premium, while Ratio Petroleum sweetened its bid for Pharos Energy to 28.8p per share plus a 4p special dividend after a rival approach from Serica Energy.

Among FTSE 100 movers, Fresnillo leads the risers, up 2.74%, tracking gold’s rally, followed by ConvaTec (+2.29%) and BAE Systems (+1.86%), the latter benefiting from continued defense-sector demand amid geopolitical tensions.

Fallers were led by Metlen Energy & Metals (-1.82%), Persimmon (-1.47%) and Rentokil Initial (-1.35%).

In the FTSE 250, Goodwin has surged 14.36% after confirming a strategic review, including a possible sale of a large chunk of its Mechanical Engineering division, following press speculation.

Pan African Resources has gained 4.21% on a strong CDI monthly movement update, while RHI Magnesita rose 3.11%.

At the bottom, Oxford Biomedica cratered 17.94% after cutting FY2026 guidance in a half-year trading update, citing a shift in client ordering patterns despite record new client wins. Shawbrook Group fell 2.85% and Rank Group dropped 2.39%.