The FTSE 100 opened higher on Friday as investors balanced a stronger US dollar, fresh macro uncertainty ahead of key US jobs data, and sharp stock-specific moves driven by corporate news. The index gained 25.91 points to 10,070.60.
Sterling weakened to around $1.3415, down nearly 0.2%, as the dollar firmed ahead of the closely watched US non-farm payrolls report for December.
Market expectations point to job growth of 50,000-60,000, reinforcing the view of a resilient but cooling labour market.
Despite Federal Reserve officials signalling only one rate cut this year, traders continue to price in at least two cuts, while US 10-year Treasury yields hovered near 4.18%.
Endeavour Mining rose 1.51% to £4,160, backed by firm gold prices, while Anglo American gained 1.50% to £3,179. Precious metals exposure also lifted Fresnillo, up 1.05% to £3,476.
JD Sports Fashion advanced 1.5% to £85.36, while Burberry added 1.16% to £1,350.50, reflecting selective buying in consumer names after recent weakness.
On the downside, Healthcare heavyweight AstraZeneca slipped to 0.88% to £14,052, while RELX declined 0.38% to £3,136 and Intertek edged lower by 0.39% to £4,600.
Berkeley Group declined 0.35% to £4,008.
Glencore shares have jumped 8% to £447.1, its highest level since July 2024, after Rio Tinto confirmed talks over a potential merger.
Rio fell 2.5% to £6036. Last night’s disclosure represents the second round of talks after discussions came to nothing at the end of 2024.
Sainsbury’s reported strong grocery sales growth of over 5%, helping it gain market share for a sixth consecutive Christmas period.
However, broader sector data showed UK footfall down nearly 3% year-on-year, highlighting continued pressure on discretionary spending.
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The Dow Jones Industrial Average last night rose 0.6%, whereas the S&P 500 index was flat and the Nasdaq Composite finished 0.4% lower.
In Asia, Tokyo's Nikkei 225 up 1.6%, Hong Kong's Hang Seng up 0.3% and Shanghai's SSE Composite up 0.9%. In Seoul, the Kospi is up 0.8%, but Mumbai's BSE Sensex has shed 0.8%.
The price of Brent Crude is 1% higher at $62.60 a barrel, while gold is slightly weaker at $4474 an ounce.
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