The FTSE 100 slipped 0.2% on Friday morning, mirroring weakness across European markets as investors reacted to to the latest news events.
The CAC 40 fell 0.3%, the DAX dropped 0.2% and the Stoxx 600 edged 0.1% lower.
Defence stocks outperformed the wider index. BAE Systems climbed 2%, making it the top FTSE 100 riser, followed by Babcock International, up 1.4%, and Rolls-Royce, up 1.1%.
Mining stocks dragged on the index, with commodity-linked shares weakening as gold and silver prices pulled back. Rio Tinto fell 2%, while Antofagasta lost 1.8%. Pearson was the biggest blue-chip decliner, down 2.1%.
Spot gold is currently trading around 4,604 after pulling back slightly from new highs, while spot silver is now around $91.32.
In corporate updates, MJ Gleeson issued a trading statement for the half-year ended December 31, 2025, reporting a steady performance despite ongoing market challenges. The housebuilder said it expects full-year results to be in line with current market expectations.
Broker moves also shaped sentiment following a flurry of analyst changes on Thursday.
Safestore was upgraded to Outperform from Neutral at Oddo BHF. Land Securities was cut to Hold from Buy by Panmure Liberum, while Big Yellow Group was downgraded to Neutral from Outperform at Oddo BHF.
WH Smith received an upgrade to Buy from Hold at Investec, and Oddo BHF initiated coverage on Magnum Ice Cream with an Outperform rating.
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