London stocks started Friday lower, with the FTSE 100 down 1.3% in early trading. The FTSE 250 was off 0.7%.
Thursday’s Wall Street rout wiped roughly $2.5tn on fears that Democrats’ midterm gains could curb AI data-centre projects, and it was the Nasdaq’s worst day in 19 months.
In early trading on the continent, the DAX fell 1.1%, the CAC 40 dropped 0.9%, and the Stoxx 50 is down 0.8%.
ING said in a note that “a divided government will now face pressure to shield consumers from rising data centre power costs .”
“In response to this issue, there is likely to be tighter data centre regulation,” said the firm. “State-level policy will be more important to watch, as action is politically and practically easier at this level.”
Meanwhile, in commodities, spot gold slipped 0.2% to $4,079. Brent for January fell 0.8% to $97.54 and December WTI fell 0.8% to $89.82.
The GBP lost 0.4% against the US dollar, falling to $1.3392.
Separately, Donald Trump said the US “may have to destroy” the rest of Iran, and the Revolutionary Guard said two oil tankers hit mines in Hormuz.
Among FTSE 100 risers, Metlen Energy & Metals is the leader, rising 3.05%, bouncing after yesterday’s fall following its trading update.
Coca-Cola HBC gained 2.12% to 4,138p after, once markets closed yesterday, it said it had no notification from the Russian government of changes to its Russian operations. Croda rose 0.96% to 3,688p.
Airtel Africa fell 3.32% to 279.60p, AstraZeneca fell 2.88% to 13,638p, and BAT fell 2.80% to 4,586p.
In the FTSE 250, TBC Bank jumped 8.97% to 5,195p after a record third-quarter net profit of GEL 404m, up 10% on the year, plus a GEL 50m buyback. Utilico Emerging Markets Trust rose 3.32% to 274p and Schroder Oriental Income 2.94% to 413.75p.
Man Group fell 5.10% to 305.20p. After yesterday’s close, it said the High Court held two subsidiaries vicariously liable in the PIFSS case, which originally sought $156m. Man disagrees on liability and quantum, with a hearing in mid-November.
Trainline lost 3.65% to 192.55p and Oxford Biomedica 3.64% to 529.50p.
Rightmove trimmed 2026 revenue growth guidance to 6-7% from 6-8%, but raised underlying EPS growth guidance to at least 7% from at least 5%. Underlying operating profit growth guidance is now at least 3%, previously 3-5%.
IAG published third-quarter results this morning. Chesnara agreed to buy MetLife UK Limited, a closed-book life insurer, its fourth acquisition in two years.