FTSE 100 Live: London Stocks Slip as Gold Miners Weigh on Index; Princes IPO Gets Green Light

The FTSE 100 opened lower on Friday, reflecting weak global cues and declines in mining stocks after gold prices retreated below the $4,000 per ounce mark. The benchmark index fell 7 points to 9,502.25 in early trading, extending its losses from Thursday’s close at 9,509.40.

Market Overview: Miners Drag Down FTSE 100

Gold miners led the downside as Fresnillo dropped 4.2% to £2,318 and Endeavour Mining slid 3.7% to £3,056. The weakness followed a dip in gold prices to $3,972 an ounce, pulling down sentiment in the broader mining sector. 

Copper and commodity producers Antofagasta and Glencore also slipped between 1-2% amid lower metal prices and global economic uncertainty.

Despite the retreat, analysts noted that gold miners have had an exceptional year so far. Richard Hunter of Interactive Investor highlighted that “the latest dip does little to alter the strong uptrend seen this year, with Fresnillo up 270% and Endeavour rising 118% year to date.”

Top Gainers

Compass Group led the pack, rising 2.61% to £2,593, as the catering giant benefited from strong post-pandemic demand in the hospitality and travel sectors. The Sage Group is up 2.38% to £1,138.5, after upbeat guidance and ongoing software subscription growth.

Burberry Group gained 1.76% to £1,244.5, supported by improving luxury retail momentum. Diageo climbed 1.62% to £1,820.5, boosted by resilient sales in North America. Energy and metals firm Metlen rose 1.50%, reflecting renewed optimism in the European commodities sector.

Princes Group IPO Gets Go-Ahead

Food manufacturing giant Princes Group confirmed plans to list on the London Stock Exchange later this month. The £3,000 crore IPO is expected to value the Liverpool-based company at around £1.5 billion.

Owned by Italy’s Newlat Food, Princes, known for its tinned tuna, Napolina, Crisp ‘n Dry, and Branston brands, aims to use the proceeds to fund acquisitions and expand its global footprint.

The company reported £13.3 million in pre-tax profit on £2.1 billion in revenue last year and achieved £37.8 million profit in the first half of 2025.

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Global Market Mood: Asia and the US Slide

Asian markets mirrored Wall Street weakness, with the Nikkei 225 down 0.9% and the Hang Seng Index dropping 1.6%. The Dow Jones Industrial Average fell 0.5%, while the S&P 500 lost 0.3% overnight.

Overall, the FTSE 100 continues to show resilience despite global uncertainty, as upcoming IPOs, including Princes Group and Shawbrook Bank, hint at renewed investor confidence in the City.