The FTSE 100 opened Friday’s session on a positive note, supported by gains in mining stocks and a rally in Ocado shares following an unexpected compensation payout from US partner Kroger. The index opened 20 points higher, reaching 9,730.56.
Antofagasta rose the highest, climbing 2.52% to £3,056, followed by Anglo American with a gain of 2.34% to £3,019.
Glencore jumped 1.3% to £389.65 and Rio Tinto advanced 2.5% to £5,564. The rally reflected a mild uptick in commodity market sentiment.
Rolls-Royce shares added 1.9% to £1,111.50, continuing its uptrend, while Rightmove gained 1.49% to £530.60, supported by a stable UK housing market.
BP posted the worst performance following a decline of 3% to £452.2, while Shell also declined 1% to £2780.
Whitbread fell 1.3% to £2,363. The Premier Inn and Beefeater owner was downgraded to 'hold' from 'buy' by Deutsche Bank this week, with a reduced target price.
Utilities Severn Trent fell 1.10% to £2,785, also SSE dipped 1.01% to £2,167.
Ocado was one of the standout performers, with its shares gaining around 11% after confirming it will receive £262 million from US retailer Kroger.
The payment follows Kroger’s decision to scale back its robotic warehouse programme, including the closure of three fulfilment centres.
The final compensation amount exceeded Ocado’s previous guidance of £190 million, sparking optimism among investors. However, the company also warned that revenue from Kroger-linked operations would fall by around £38 million this year.
Halifax data showed UK home prices flat in November at £299,892, while annual growth eased to 0.7%, the weakest since early 2024. Northern Ireland led regional gains, while London continued to decline.
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Nikkei 225 fell over 1% as expectations of a Bank of Japan rate hike strengthened the yen. Wall Street closed flat to slightly higher, with the S&P 500 up 0.1% and the Nasdaq gaining 0.2%.
Asian markets outside Japan performed better, with Shanghai and Hong Kong indices up 0.5-0.7%.
In commodities, Brent crude held steady at $63.24, while gold ticked higher to $4226 an ounce. Bitcoin traded near $92,060.
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