FTSE 100’s Friday session started on a soft note, supported by gains in engineering, travel, and energy stocks. However, weakness in luxury retail and hospitality capped broader momentum. The index climbed to 9708.06, up 14.13 points.
IMI jumped 2.17% to £5,918, which clearly reflects renewed strength in engineering and industrial solutions.
Low-cost carrier easyJet managed to add 1.98% to £3,676, after benefiting from upbeat analyst commentary and a higher price target from Bernstein.
Weir Group also saw a sharp rise of 1.89% to £7,134, all thanks to consistent order flow in its mining and industrial segments.
Smiths Group traded 1.72% higher to £2,480, while Kingfisher climbed 1.11% to £310.50 and Antofagasta increased by 0.97% to £2,1716, supported by favourable commodity pricing and supply-chain stabilisation.
Burberry Group experienced a sharp downturn, sliding 4.18% to £4,236. The luxury brand’s decline followed JP Morgan’s downgrade to “Underweight”, driven by softer demand trends across key Asian markets.
Whitbread, parent of Premier Inn, was another major loser, falling 6.1% amid concerns around margin pressures and subdued forward bookings heading into the holiday period.
Other notable losers included Intertek, down 0.65% to £4,604, and Reckitt Benckiser, slipping 0.38% to £5,852, as consumer-facing and testing businesses faced mixed global signals.
Mitchells & Butlers soared 9% after posting a 20% surge in annual pre-tax profits to £238 million.
The operator of Harvester, Toby Carvery, and All Bar One also reported 4.3% like-for-like sales growth, alongside a positive start to the new financial year.
Management is optimistic that they will offset nearly £100 million in cost inflation with improved operational efficiencies.
Zoopla’s November House Price Index revealed the first annual decline in property prices across London and southern England in 18 months.
Buyer demand fell 12%, largely impacted by Budget-related uncertainty, though national prices still rose 1.3% year-on-year to £270,200.
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Meanwhile, Asian markets showed a mixed hand, with Japan’s Nikkei up 0.2%, the Hang Seng down 0.3%, and Shanghai’s SSE gaining 0.3%.
Gold continued its impressive monthly performance near $4200, while the pound traded at around $1.3266.
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