The FTSE 100 opened 75.59 points higher at 10,517.19 as oil prices retreated after US President Donald Trump ruled out further strikes on Iran before next month's midterm elections. Brent crude futures fell 1.03% to USD 103.2 per barrel. US West Texas Intermediate (WTI) declined 0.90% to USD 90.67 per barrel.
Sterling was quoted at USD 1.3245 early Friday, higher than USD 1.3214 at the London equities close on Thursday. Sterling fell against the euro to EUR 1.1789 from EUR 1.1799 the previous day.
On the upside, Fresnillo rose 3.38% to 2,780.00p, while Sage Group advanced 3.31% to 1,061.50p. RELX climbed 2.93% to 2,671.00p, and Antofagasta gained 2.75% to 3,704.00p. WPP increased 2.63% to 382.10p, while Experian added 2.41% to 2,636.00p.
On the downside, Vodafone Group fell 3.82% to 119.65p, while Airtel Africa dropped 2.39% to 302.20p. BP slipped 1.56% to 575.70p, and Shell declined 1.35% to 3,729.50p. Rolls-Royce Holdings edged down 0.44% to 1,361.00p, while DCC Energy fell 0.08% to 6,440.00p.
In a social media post late on Thursday, Trump said, “We will not be attacking Iran at any time prior to the Midterm Elections,” citing ‘productive discussions’ with Tehran, while the ‘Blockade will remain in full force and effect.’ He claimed ‘22 Million Barrels’ passed through Hormuz ‘last night alone.’
Airtel Money will begin trading today on the London Stock Exchange. The mobile payments firm has priced its shares at GBP 1.96 apiece, which is expected to hand it a price tag of around GBP 5.3 billion.
Existing shareholders, which include the Qatar Investment Authority and Mastercard, are offering up 270 million shares that are expected to raise around GBP 529 million. Airtel previously said it expects to have a “free float that would make it eligible for inclusion” in the FTSE indices.
Retail footfall fell in September, falling by 2.9% compared to a 1.7% decrease in August, according to the British Retail Consortium (BRC). The headline figures were dragged down by a 3.5% drop in footfall to shopping centres, which had fallen by only 0.5% in August.
Helen Dickinson, the BRC’s chief executive, noted, “As we enter the crucial final quarter, retailers will do all they can to attract shoppers with great value and choice.”
“But until the government acts to reduce the cost of doing business, retailers are fighting with one hand tied behind their backs,” she further added.
Also Read: Nifty 50 Opens 0.37% Higher, Sensex is Up 231.2 Points as Oil Prices Ease
In the US, the tech-heavy NASDAQ declined 1.25% to 27,193.34, while the S&P 500 fell 0.47% to 7,765.36. The Dow Jones Industrial Average added 51.77 points, or 0.1%, to end at 51,231.64.
In Asia, Tokyo's Nikkei 225 fell 0.02% to 69.030.92, while China’s Shanghai Composite gained 0.05%. Hong Kong’s Hang Seng rose 1.50%, and South Korea’s Kospi dipped 2.62%. In India, both the Nifty 50 and the Sensex advanced by 1.18% and 1.15%, respectively.