Friday Morning Markets: FTSE 100 Edges Up as Vodafone Rally Rolls On; Burberry Slips

The FTSE 100 has risen 0.3% in early Friday trading, though sentiment is weaker elsewhere with the FTSE 250 falling 0.4%, Germany’s DAX down 0.5%, France’s CAC 40 off 0.8% and the Euro Stoxx 50 sliding 1.1%.

Brent crude has added around 0.7% after the latest wave of U.S. strikes on Iran, with Tehran reportedly claiming civilian infrastructure was hit.

In individual stock names, Vodafone (LON: VOD) leads the blue chips, up 3.87%, extending its post-Niel deal momentum, with British American Tobacco (LON: BATS) gaining 3.02% and Experian (LON: EXPN) rebounding 2.91% from Thursday’s 1% slide.

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Burberry (LON: BRBY) tops the fallers so far today, down around 5.62%, despite first-quarter numbers meeting expectations. Comparable retail sales rose 5% in the 13 weeks to June 27, led by a 12% jump in the Americas and 9% growth in Greater China, but EMEIA sales fell 3% as the Middle East conflict hit tourist spending in Europe, and a cautious outlook statement took the shine off.

Meanwhile, Polar Capital Technology Trust (LON: PCT) has dropped 3.95% and Scottish Mortgage (LON: SMT) has fallen 3.55%.

Elsewhere, Wise (LON: WISE) reported first-quarter net revenue up 25% year-on-year to $714 million, with cross-border volumes rising 26% to $69.3 billion and FY27 guidance reiterated.

Small-cap Alumasc (LON: ALU) saw its shares plunge at the open…

The company said trading was broadly in line with expectations, with its order book up 49%, but separately announced CEO Pamela Bingham has been suspended pending an investigation into her professional conduct.

In the FTSE 250, Ocado (LON: OCDO) has rebounded 5.28% after Thursday’s 10.41% plunge, Bridgepoint (LON: BPT) has risen 3.89% on its half-year report, and recruiters Hays (LON: HAS) and PageGroup (LON: PAGE) extended their recent strong gains, up 3.68% and 3.56% respectively.

Ceres Power (LON: CWR) has slid 9.88%, WAG Payment Solutions (LON: EWG) has lost 7.04% and Raspberry Pi (LON: RPI) is down 6.19%.