FTSE lifts again in calmer session for global markets
It represented the second consecutive rise and helped shore up the London markets after a dramatic start to the week.
Nevertheless, travel stocks, such as British Airways owner IAG, had a weak session due to worries that a potential global recession will cause people to cut back leisure spending.
The FTSE 100 finished up by 0.64%, or 50.93 points, to close at 7,964.18. It was only around 1% lower for the week.
Elsewhere in Europe, the other main markets dipped slightly as many traders chose to sell following a particularly sharp improvement – the biggest daily gain for three years – in Thursday’s session.
The Cac 40 ended 0.3% lower for the day and the Dax index was down 0.94%.
In the US, the Dow Jones and S&P 500 both opened in positive territory, but seesawed during a nervy first few hours of trading.
Axel Rudolph, senior technical analyst at IG, said: “Stock indices suffered from investor fatigue and saw their lowest volatility day of the week.
“After a turbulent week, the oil price stabilised as well and was little changed on the day.
“Bar gold, investors aren’t flocking to traditional safe haven assets such as the US dollar or Treasuries as they no longer trust the US government.”
Meanwhile, in currency the pound was up 0.6% at 1.304 US dollars but was down 0.3% at 1.154 euros when London’s markets closed.
In company news, BP was among the fallers after the energy giant lowered its outlook for gas production in the first quarter of 2025 and said debts are set to jump.
Shares in the oil major were down 2.9% at 331.7p – their lowest level since 2022 – after it said production will be lower in gas and low-carbon energy for the first three months of the financial year, compared with the previous quarter.
Read More
Toy firm Character Group was firmly in the read after it withdrew its guidance for the financial year in light of the President’s tariff plans.
The business, which makes Peppa Pig toys under licence, said its ability to accurately forecast its sales to the US – which represented around 20% of revenues for the past year – has been “considerably obscured” by the trade tariffs.
Shares in the business finished down 6.2% at 242p on Friday.
London real estate firm Helical rose higher during the session after it announced the £333 million forward sale of its flagship office project at 100 New Bridge Street in the City.
Shares were up 6.9% at 186p after Helical reported the deal with an undisclosed S&P 500-listed company.
The price of oil was broadly steady during the session, as traders bought into the energy stock despite lingering concerns over economic growth.
A barrel of Brent crude oil was up by 0.44% to 63.61 dollars (£48.72) as markets were closing in London.
The biggest risers on the FTSE 100 were Fresnillo, up 68p to 991p, Endeavour Mining, up 121p to 2,004p, Tesco, up 13.1p to 327.7p, ConvaTec, up 9.4p to 247.6p, and Glencore, up 8.65p to 253.65p.
The biggest fallers on the FTSE 100 were St James’s Place, down 37p to 823.4p, BP, down 9.9p to 331.7p, Pershing Square, down 70p to 3,332p, IAG, down 4.9p to 240.8p, and Experian, down 64p to 3,354p.