- FTSE 100 27 points higher
- HSBC chair to exit
- UK house prices dip
- Traders await US NFP report
4.50pm: FTSE rebounds
The FTSE 100 Index rose 0.3% on the day, gaining 27 points to close at 8,838.
3.05pm: Tepid end to the week
The FTSE 100 was off its session high, but still in positive territory as it shrugged off the clusterfudge political mis-steps of America's 47th (and 45th) president.
Trump is in an all-out social media war with Elon Musk - a battle that is unlikely to end well for either party.
So far, the collateral damage has been limited to Tesla as shares tanked after hours on Thursday in the aftermath of bitter exchanges and goading on X and Truth Social.
As it stands currently, the markets are carrying serenely oblivious, or perhaps just ignoring the rhetoric and posturing. In fact, they have become inured and unshockable, it would seem.
Back here in the land of the sane, shares in Pinewood Technologies Group, the automotive intelligence group, jumped 11% mid-afternoon after the company announced a $76.5 million deal to acquire full control of its North American joint venture with Lithia Motors.
Alongside the transaction, the company said it had secured a five-year contract with Lithia to roll out its software platform across all of Lithia’s current and future North American dealerships by the end of 2028.
1:55pm: FTSE 100 picks up slightly more enthusiasm
London’s blue-chip index picked up with a smidgen more enthusiasm on Friday afternoon, to trade 11.5 points or 0.13% higher at 8,822.
The record high for the FTSE 100 remains close, but perhaps out of reach for today – at 8,908 (or 8,871, being the highest close).
1:45pm: America’s job market shrugs at tariffs
“The US Labour market has shrugged off the tariff uncertainty that rocked global stock and bond markets in April and May,” said Wealth Club analyst Nicholad Hyett.
“While the Federal government has continued to shed a small number of jobs, the wider economy has more than made up the difference, with the US adding slightly more jobs than expected in May. Wage growth also came in higher than expected – suggesting the economy is in rude health.”
1:40pm: US jobs report beats expectations
The US labour market added 139,000 jobs in May 2025, outperforming forecasts of 126,000.
The unemployment rate held steady at 4.2%, mirroring April's revised figure. Average hourly earnings rose by 0.4% on the month and 3.9% annually, both ahead of expectations.
However, additional indicators point to a possible slowdown. Private sector hiring reached a two-year low, with ADP data showing just 37,000 new positions in May.
1:00pm: Wall Street set for temperate start ahead of jobs report
Wall Street looks set for a mixed start on Friday as investors await the release of the May jobs report.
Futures linked to the Dow Jones Industrial Average point to an implied open higher by 117 points. S&P 500 futures are up 0.40%, while Nasdaq futures lead with a gain of 0.46%.
Economists, on average, expect 130,000 jobs were added in May and the unemployment rate held at 4.2%. Another forecast calls for 125,000 jobs created, a slowdown from April but not enough to significantly raise recession fears.
Tesla shares are up over 5% in premarket trade. Circle Internet Group is also higher, gaining more than 10%. Among notable decliners, Vera Therapeutics is down over 23%.
The nonfarm payrolls report is due at 8:30 AM ET. It is likely to influence expectations for the Federal Reserve’s next policy move.
Circle Internet Group recently completed its IPO on the Nasdaq. Vera Therapeutics develops treatments for kidney disease.
10:00am: FTSE may see an uninspired new high
At 8,815, the FTSE 100 edging closer to its record high, set in March, and is now up 8% year-to-date.
Though, honestly, it is looking like more of a dull, grinding higher-high than a joyous breakthrough.
Friday’s gains are modest to say the least, driven by selective buying in defensive sectors, though broader sentiment remained cautious amid ongoing geopolitical noise.
The FTSE 100 is currently up 4 points (0.05%) in Friday’s session.
It’s March all-time-high was set at 8,908 (or 8,871, being the highest close), but it does look like traders will need to find a fresh spark if they’re to send the footsie to a new record – which would be 0.5% away.
Perhaps impetus will come from Wall Street, where early indicators in the futures market suggests tempers have steadied after Thursday’s volatile session triggered by the high-stakes ‘handbags’ between President Trump and Elon Musk.
Tesla shares plunged 14%, dragging the stock’s year-to-date loss to a 25%.
The deterioration in political tone adds to existing worries over the US economic outlook. Companies have scaled back guidance, and consumer sentiment remains fragile.
A phone call between the US and China failed to lift market hopes, with investors unconvinced by vague commitments to further discussions.
Throw into that mix, this afternoon brings May’s US non-farm payrolls report which is expected to show job growth slowing to 125,000 in May.
The number will be closely watched by traders, economists and central bankers who all want to gauge the post Trump tariff state of the American economy.
For traders, the equation is simple – will the stat make a Federal Reserve rate cut more likely, or less likely.
And, for the FTSE, if any of those above factors turn out a bit better than feared or result in slightly less pessimism, perhaps the City will see a new record high.
8:20am: FTSE 100 makes positive start to Friday
The FTSE 100 got off to a positive start to Friday, climbing 17 points (0.2%) to 8,828.
London’s blue-chip benchmark looks steady in early deals, despite ongoing global uncertainty, including signs of cooling demand and trade tensions.
Sector by sector, the index was weighed down slightly by losses in mining and energy stocks, even as investors showed resilience elsewhere.
Among the banks, HSBC Holdings PLC (LSE:HSBA) announced that Sir Mark Tucker will retire as group chair, and will step down from the board on 30 September.
Tucker has been named as the new non-exec chair (from 1 October) of Hong Kong insurance group AIA where he was previously CEO.
Brendan Nelson will take over as HSBC’s interim group chair from 1 October. HSBC will launch a process to select a new permanent chair.
In the UK housing market, fresh data from Halifax revealed a slight decline in prices for May, with average values dipping 0.1% month-on-month.
Britain’s housing market has remained relatively flat in recent months, with buyers appearing cautious amid ongoing interest rate pressures and the looming general election. Annual price growth has slowed significantly, with experts pointing to affordability constraints and a lack of momentum in new listings.
Elsewhere, attention was turning to the US, where the upcoming non-farm payrolls report is expected to show a slowdown in hiring.
7:15am: UK equities look flat ahead of Friday's open
The FTSE 100 is seen slightly lower ahead of the open, with Spreadbetting and CFD firm IG Markets making the index 4 points lower, at 8,803 to 8,805.
Attentions aren’t especially on the markets, in fact they’re mostly on the public interactions between Donald Trump and Xi Jinping, and the fiery exchanges between Trump and Elon Musk.
Later, the US market has its monthly ‘non-farm’ employment report – which can often stir the market.
But, in the meantime, it looks like a quieter end to the week.
“The FTSE looks unlikely to move much this morning with little scheduled in the way of corporate news for investors to hang their hat on,” Hargreaves Lansdown analyst Derren Nathan said in a note.
The phone call between US President Trump and Chinese President Xi failed to lift Asian markets. Japanese indices pared earlier losses, while broader sentiment remained muted.
The call focused on trade, but failed to spark investor enthusiasm.
European stocks were similarly unmoved following Thursday’s widely expected 25 basis point interest rate cut by the European Central Bank. Meanwhile, US markets steadied overnight.
That’s despite Tesla’s 14% drop wiping out US$152 billion in market value after the public row between Trump and Elon Musk.
Oil prices held steady, maintaining weekly gains of around 4%. Investors are eyeing falling US inventories and ongoing Canadian wildfires, though OPEC+ plans to increase supply by 411,000 barrels per day next month may offset some of those gains.
The price of gold moved very slightly higher, to $3,363.