FTSE 100 opened higher on Friday, trading at 9,851, up 13 points. Positive global cues and strength in heavyweight stocks have played a major role in the market activity on December 19. Gains in healthcare, energy, and banking shares helped counter weakness in select retail and property names.
The benchmark index advanced modestly, thanks to the gains in AstraZeneca, which saw a 0.38% rise to £13,600, while Centrica climbed 0.39% to £168.05.
Rolls-Royce gained 0.74% to £1,152 and Barclays 0.60% to £466.10. Financial stocks got the much-needed support as global markets reacted positively to softer-than-expected US inflation data, which lifted sentiment overnight on Wall Street.
On the downside, Coca-Cola Europacific Partners dipped 2.91% to £6,680 in early trade. Games Workshop fell 0.51% to £19,490.
Endevour Mining fell 1.64% to £3,728, while Berkely Group dipped 1.06% to £3,912. Croda International dipped 1.43% to £2,579.
WH Smith fell around 3%, after the retailer confirmed that the Financial Conduct Authority (FCA) has launched an investigation following the disclosure of accounting errors in its US operations.
The company said it is seeking to recover overpaid bonuses from former executive directors after restating profits for the 2023 and 2024 financial years.
WH Smith reported that headline profit fell 5% to £108 million, while net profit slumped sharply to £2 million from £65 million. Trading profit in North America dropped to £15 million.
Retail sales volumes decreased by 0.1% in November, defying expectations as the usual boost from Black Friday discounts did not happen.
At the same time, public sector borrowing was reduced to £11.7 billion in November, lowest level for the month in four years, supported by higher tax and National Insurance receipts.
Consumer sentiment experienced a minor uplift, GfK’s Consumer Confidence Index went up by two points to -17, though confidence remained weak due to the cost-of-living pressures.
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Brent crude slipped back below $60 a barrel, while gold traded near $4,326 an ounce, and it reflected easing inflation concerns and a firmer US dollar.
The S&P 500 rose 0.8%, while the Nasdaq Composite jumped 1.4%, providing a constructive backdrop for European equities.
In Asia, markets were firmly positive, led by Japan’s Nikkei 225, which climbed more than 1% after the Bank of Japan raised interest rates by 25 basis points to 0.75%, the highest level since 1995.
Hong Kong’s Hang Seng also gained close to 1%, reinforcing risk appetite at the open in London.
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