The FTSE 100 traded 16.66 points higher at 10,884.55 as investors assessed fresh US trade measures, firmer oil prices and will closely watch the US jobs report later in the day. Brent crude futures rose 0.91% to $83.24 per barrel. US West Texas Intermediate (WTI) fell 0.57% to $77.73 per barrel.
Sterling was quoted at $1.3452 early Friday, slightly lower than $1.3454 at the London equities close on Thursday. Against the euro, sterling fell marginally to €1.1674 from €1.1675 a day prior.
On the upside, Fresnillo surged 2.74% to 2,813p. Convatec Group advanced 2.73% to 233p, while BAE Systems climbed 1.68% to 2,237p. London Stock Exchange Group gained 1.53% to 8,884p, Diageo rose 1.47% to 1,758p, and AstraZeneca added 1.38% to 12,014p.
On the downside, Severn Trent fell 1.03% to 3,084p. Whitbread declined 0.87% to 2,506p, while Antofagasta slipped 0.76% to 3,944p. 3i Group eased 0.73% to 2,850p, Shell dropped 0.59% to 3,295.5p, and Unilever edged 0.40% lower to 4,690p.
Oxford Biomedica has slashed its revenue target for the year by nearly £40 million after slowing customer appetite. The firm has lowered its revenue forecast for the full year to £180 million to £200 million, from between £220 million and £240 million, given a drop in demand from clients.
The medical company said the ‘short-term impact’ is driven by customers opting to delay signing contracts for the year, resulting from changes in the clients' clinical data or their strategy.
Dr. Frank Mathias, chief executive officer of Oxford Biomedica, said despite the profit warning, “we remain confident about OXB’s future as we continue to expand our market position in the growing cell and gene therapy sector and support our clients in delivering life-changing therapies to patients.”
JD Sports has named the former boss of Ikea as its new chair. The retailer said on Friday Peter Agnefjäll would take the post, succeeding Darren Shapland, who has served in the role on an interim basis.
Agnefjäll’s recruitment follows Andy Higginson quitting as chair in April ahead of his tenure finishing in July. He said he was “proud of his time” at the company, in which JD oversaw a “tough period” in the sportswear market and expanded the brand in the US.
Meta has been ordered by a New Mexico judge to pay $567 million (£421 million) for failing to protect children against online harms on its platforms.
In the ruling handed down on Friday, US Judge Bryan Biedscheid said the tech giant is a “public nuisance” and compared the WhatsApp, Facebook, and Instagram owner to air pollution.
The new fine is in addition to a $375 million penalty the tech company was already ordered to pay in damages in March after a jury ruled Meta had intentionally impacted children’s mental health, hiking the total penalty to nearly $1 billion.
Also Read: Stock Market Update: Nifty 50 Opened 0.39% Lower, Sensex Declined 438.68 Points
In the US, the Dow Jones Industrial Average pulled back from its record high as higher Treasury yields dampened sentiment. The Dow fell 0.9%, the S&P 500 slipped 0.2%, and the Nasdaq edged 0.1% lower.
In Asia on Friday, Tokyo's Nikkei 225 fell 0.12% to 65,606.71, while China’s Shanghai Composite gained 1.02%. Hong Kong’s Hang Seng advanced 0.45%, and South Korea’s Kospi edged lower by 0.6%. In India, both the Nifty 50 and the Sensex fell by 0.31% and 0.53%, respectively.
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