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The FTSE 100 opened 9.70 points lower at 10,618.72 lower amid stronger-than-expected UK GDP data, which offset concerns over the Iran-linked disruptions to the Strait of Hormuz. Brent crude futures fell 1.44% to USD 106.1 per barrel. US West Texas Intermediate (WTI) declined 1.36% to USD 101.1 per barrel.
Sterling was quoted at USD 1.3513 early Friday, lower than USD 1.3532 at the London equities close on Thursday. Versus the euro, it rose to EUR 1.1637 from EUR 1.1636 a day prior.
On the upside, Games Workshop Group climbed 1.21% to 17,540p. Standard Life advanced 1.15% to 921.50p, while Hiscox gained 1.14% to 1,871p. Lion Finance Group rose 1.12% to 13,530p, Barclays added 1.11% to 489.70p, and British American Tobacco increased 1.10% to 4,137p.
On the downside, RELX fell 2.17% to 2,440p. London Stock Exchange Group declined 1.74% to 8,364p, while Experian dropped 1.44% to 2,739p. Antofagasta slipped 0.77% to 3,742p, Rio Tinto lost 0.67% to 7,316p, and Reckitt Benckiser Group edged 0.47% lower to 5,034p.
The UK economy had surprise growth in July. Official figures from the Office for National Statistics (ONS) have revealed GDP expanded 0.4%, ahead of economists’ forecast of zero growth.
This was driven by 0.4% growth in the UK’s services sector, which is responsible for around 80% of GDP output. Production grew 0.2% while construction increased 0.1%.
“Within the services sector, computer programming was the largest contributor, continuing the strong growth seen throughout the year, with evidence that businesses involved with AI and related technologies helped to boost the sector,” Liz McKeown, director of economic statistics at the ONS, said.
Oracle’s spending on AI infrastructure surged to USD 28.5 billion (GBP 21 billion) in its latest quarter, underlining the growing cost of booming demand for computing capacity.
The software group expects capital expenditure to reach USD 90 billion to USD 95 billion this financial year, as it pours money into the data centers and hardware required to compete with Amazon, Microsoft and Google.
Overall revenue rose around 30% to USD 19.35 billion, ahead of Wall Street forecasts, while earnings also topped expectations.
Shares in Trainline Plc rose over 3% on Friday after the company reported first-half net ticket sales and revenue ahead of analyst forecasts.
Net ticket sales were 0.7% ahead of Visible Alpha consensus and revenue was 2% ahead, with UK net ticket sales 3% ahead of consensus, while International was 5.5% behind and Solutions 1.2% behind.
Group net ticket sales on a constant-currency basis were flat, compared with growth of 6% to 8% in the second half of the 2026 financial year and first half of that year.
Also Read: Stock Market Update: Nifty Opened 0.88% Lower, Sensex Declined 593 Points Amid Rising Oil Prices
In US, the Dow Jones Industrial Average closed down 316.56 points, or 0.6%, to 52,064.10. The S&P 500 fell 0.58% to end at 7,591.70, while the Nasdaq Composite slid 0.65% to 26,081.72.
In Asia on Friday, Tokyo's Nikkei 225 declined 1.93% to 64,011.34, while China’s Shanghai Composite fell 1.18%. Hong Kong’s Hang Seng declined 0.66%, and South Korea’s Kospi dipped 1.76%. In India, both the Nifty 50 and the Sensex fell by 0.63% and 0.56%, respectively.
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