The FTSE 100 live opened 30 points higher at 10,503 amid signs that diplomatic talks between the US and Iran eased investor concerns over the Middle East conflict. Meanwhile, Brent crude futures fell 0.83% to $75.71 a barrel while US West Texas Intermediate (WTI) declined 0.74% to $71.55 a barrel.
Sterling was quoted at $1.3424 early Friday, higher than $1.3397 at the London equities close on Thursday. Against the euro, sterling rose to €1.1736 from €1.1717 a day prior.
On the upside, Vodafone Group rose 10.32% to £107.85, while BT Group advanced 1.60% to £190. International Consolidated Airlines Group gained 1.52% to £473.40, and Rio Tinto moved higher by 1.35% to £6,765. Airtel Africa added 1.31% to £325.80, while British Land climbed 1.29% to £424.60.
On the downside, AstraZeneca declined 1.29% to £13,182, while St. James’s Place slipped 6.81% to £1,177.50. Next fell 0.38% to £14,480, and Admiral Group moved lower by 1.09% to £3,634. Coca-Cola HBC dropped 0.70% to £4,858, while Lion Finance Group eased 0.26% to £11,510.
Andy Burnham moves a step closer to becoming Prime Minister after hundreds of Labour MPs formally nominated him to succeed Keir Starmer as party leader.
Burnham appeared on course to become Labour leader unopposed after the party said 322 of its 403 MPs backed his candidacy on the first day of nominations.
"It is all starting to feel very real," Burnham said in a video posted on social media shortly after nominations opened. The process closes on July 16, with Burnham set to be confirmed as Labour leader the following day if no challenger emerges.
Apollo has agreed to buy EasyJet in a deal valued at £5.7 billion, the acquisition usurps an earlier bid from asset manager Castlelake.
EasyJet said on Friday that it had accepted an all-cash offer from the US investment giant valuing the airline at £714 a share, higher than the £690 a share bid it received from Castlelake.
The offer represents an 80% premium on the airline’s closing share price, the carrier said Apollo’s bid “delivers a superior outcome for Easyjet shareholders”.
UAE telecom operator e& Group said on Friday it has agreed to sell its entire 16.3% stake in Vodafone Group for $5.95 billion.
Under the agreement, e& will sell its holding to Vega, an investment vehicle controlled by the family of French telecommunications entrepreneur Xavier Niel, for total consideration of 112.5 pence per Vodafone share. This represents a 13% premium to Vodafone’s last close.
Hays says it expects profit for the 2026 financial year to come in at the higher end of the market estimates after cost cuts offset another quarter of weak recruitment activity.
The recruiter said like-for-like net fees fell 5% in the three months to 30 June. Temporary and contracting fees fell 3%, while permanent fees dropped 7% as hiring fell through the quarter.
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In the US, the tech-heavy Nasdaq climbed 1.3%, S&P 500 added 0.8% and the Dow Jones inched up 0.3%.
In Asia on Thursday, Tokyo's Nikkei 225 rose 1.2% to 68,557.73, while China’s Shanghai Composite fell 1%. Hong Kong’s Hang Seng climbed 0.65%, and Australia’s S&P/ASX 200 rose 0.5%. In India, Nifty 50 and Sensex declined by 0.92% and 0.98%, respectively.
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