London equities slumped on Friday as geopolitical tensions in the Middle East continued to rattle global markets.
The FTSE 100 has so far dropped 1.5% in early trading, extending the recent decline. The mid-cap FTSE 250 has slid 2.2%, while continental benchmarks also weakened, with Germany’s DAX down 1.9% and France’s CAC 40 off 1.4%.
Commodity markets added pressure to sentiment. Spot gold plunged more than 5% to around $4,269, while Brent crude climbed 2.8% to trade above $109.
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Among blue-chips, the strongest performers were Croda International, up 1.1%, followed by Smiths Group at 0.4% and BP at 0.3%. The biggest fallers included Rolls-Royce, which dropped 4.8%, along with miners such as Metlen Energy & Metals, down 4.2% and Endeavour Mining, down 4.4%, both hit by sliding precious-metal prices.
In corporate developments, GSK said its antibody-drug conjugate risvutatug rezetecan, known as Ris-Rez, received Orphan Drug Designation from Japan’s Ministry of Health, Labour and Welfare for small-cell lung cancer treatment.
Elsewhere, Applied Nutrition reported a strong first half, with pre-tax profit surging 77% to £20.9 million and revenue rising 56.5% to £74.5 million, though it warned that sales volumes in the Middle East will be affected by regional conflict.
In the healthcare sector, Spire Healthcare said takeover talks with both Bridgepoint and Triton have ended. The company remains in discussions with other potential bidders as its strategic review continues.
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