The London stock market saw renewed momentum on Friday, with the FTSE 100 index climbing 45 points to 9,472.21 after a flat performance in the previous session. Investor sentiment was buoyed by new IPO activity and corporate updates, even as concerns linger over energy costs and global oil market volatility.
Shares in Bunzl were among the early risers, up 3.44% at £7,750.06 after an increase of 82 points. Schroders also gained traction, advancing 3.27% to £6,114.26 as confidence in asset managers strengthened.
Diploma recorded an impressive rise of 2.76% to £7,050.96, climbing £145 in morning dealings.
Mining stocks also contributed to the upward momentum, with Fresnillo up 2.53% at £16,874.86 and Endeavour Mining higher by 2.03% at £7,373.66, helped by renewed safe-haven demand for gold.
Liverpool-based Princes Group, best known for household brands like Napolina and Crisp ‘N Dry, confirmed plans to list on the London Stock Exchange. Reports suggest a potential valuation of £1.5 billion, which would represent a major boost for London’s IPO market after a subdued period.
The company, employing 7,800 staff across seven countries, has built a diversified £2 billion portfolio covering food, fish, oils, Italian products, and beverages.
Executive chair Angelo Mastrolia described the planned flotation as “a pivotal moment” that reflects both the company’s confidence in its business model and the opportunities ahead in the UK.
In a rare new listing for 2025, Beauty Tech Group, a Cheshire-based at-home beauty device firm, entered the London market at an initial valuation of £300 million. Shares were priced at £271 and quickly rose about 4% to £282.5 in early trading.
The company, founded in 2009, markets LED face masks and other home-use skincare devices under brands including CurrentBody Skin, ZIIP Beauty, and Tria Laser.
Chief executive Laurence Newman said the listing would provide “financial firepower” to capitalize on the fast-growing beauty tech sector.
JD Wetherspoon reported a 10% increase in annual profits to £81.4 million, while like-for-like sales rose 3.2% in the first nine weeks of its new financial year. However, chairman Tim Martin warned of rising wages, energy, and packaging costs, adding around £60 million annually.
Shares slipped 4% to £636, despite earnings beating forecasts. Martin emphasized that Wetherspoon generated £838 million in taxes last year, equivalent to £1 in every £1,000 of UK tax revenue.
Despite headwinds, the FTSE 100 is drawing optimism from IPO activity and resilient corporate earnings, with analysts observing that new IPO activity for companies such as Princes and Beauty Tech could deliver the kick the market needs.
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