- FTSE 100 down 43 points at 9,667
- Ocada surges 10% on Kroger settlement
- House prices hold steady in November
5.02pm: FTSE flops
London stocks gave back earlier gains to finish Friday’s session down 43 points at 9,667.
The big news on Wall Street was the announcement Netflix will acquire Warner Bros in a deal valued at $72 billion.
Kathleen Brooks, XTB research director, sees the deal as symbolic of how the new era of streaming has taken control of Hollywood by purchasing one of its more revered studios.
Investors, however, did not react positively to the news.
“Investors’ lack of enthusiasm is down to multiple factors, including a track history of mega buyouts going sour and not delivering their promised returns,” Brooks wrote.
“These include AOL and Time Warmer, Daimler Benz and Crysler and Spring and Nextel Communications. Deals of this size and scope are complicated and execution needs to be perfect to deliver the expected benefits.”
12:30pm: US futures point to higher start
The Nasdaq is set for a strong open when trading gets underway in two hours time, with gains for the S&P 500 and the Dow Jones likely to be more muted.
Nasdaq futures are pointing to a 0.3% gain at the open, with those for the S&P 500 up by 0.2%, while Dow futures are lagging with a 0.1% gain.
Ahead of the opening bell, the US Bureau of Economic Analysis is expected to publish the closed watch core Personal Consumption Expenditures (PCE) report for September, delayed due to the recent government shutdown. This will help guide the US Federal Reserve's interest rate decision next week.
"The Personal Consumption Expenditures index, which is the Fed’s preferred measure of inflation, may well reveal that prices remain slightly higher than the Fed’s 2% target," commented interactive investor's Richard Hunter. "However, given the age of the data, any numbers may prove to be inconclusive and insufficient to change the central bank’s current thinking."
Meanwhile, European markets are also marking time ahead of next week's Fed decision, with little interim data available to move the dial, Hunter added.
London's FTSE 100 has retraced some of the morning's gains and is now just 8 points up at 9,719.32. The DAX in Frankfurt and the CAC 40 in Paris are also up less than 0.1%.
10am: Small caps under the spotlight
Anglesey Mining PLC (AIM:AYM) shares soared over 200% to 0.95p after unveiling a financial overhaul. The plan includes cutting £4 million of debt via asset sales, a £350,000 investment from Energold, and board additions. The moves aim to strengthen the balance sheet and boost progress at the Parys Mountain project. Read more
Iofina PLC (AIM:IOF, OTC:IOFNF) shares jumped 7.5% after striking a deal with Western Midstream to develop a new IOsorb plant in the Permian Basin. The $8–9 million facility will double brine processing to 50,000 barrels per day, boosting iodine output. Groundwork starts late 2025, with production expected in the second half of 2026. Read more
1Spatial (AIM:SPA) shares rose 3.7% to 46.6p after the spatial data firm secured a £4.2m contract with Ordnance Survey to lead the next phase of the National Underground Asset Register. The two-year deal, with an optional three-year extension, positions 1Spatial at the heart of digitising the UK’s underground infrastructure. Read more
Gemfields Group Limited (AIM:GEM) shares rose 2% after a strong emerald auction, selling 45 of 46 lots for $25.4 million at $7.46 per carat. Kagem mine’s 2025 auctions totalled $79 million, recovering from earlier shutdowns. Pricing improved across all qualities, and proceeds will go back to Kagem, with royalties paid to Zambia. Read more
London BTC Company Ltd (LSE:BTC, OTCQB:VINZF) plans to expand its North American mining fleet by 30% to 1,500 ASICs next year. Funded from a debt-free balance sheet, the move aims to grow bitcoin holdings, while a potential Nasdaq dual listing and new revenue streams are also in the works. Read more
Quantum Blockchain Technologies PLC (AIM:QBT) reported strong interest in its Bitcoin software, signing three NDAs with ASIC manufacturers to test its Method C AI Oracle at its Milan lab. The company is prioritising software over hardware for faster commercial rollout and is also exploring mining pool collaboration to boost hash rate efficiency. Read more
SkinBioTherapeutics PLC (AIM:SBTX) is off to a strong FY26 start, expecting £6.2M revenue and £0.7M adjusted EBITDA. Growth is driven by AxisBiotix’s Superdrug expansion, Zenakine launches, and recent acquisitions. FY25 saw revenue jump 284%, losses shrink, and cash rise to £4.8M, setting the stage for continued expansion in skin health products. Read more
Tissue Regenix Group PLC (AIM:TRX) is securing up to £17.5M through a private convertible loan deal, mainly with Harwood Private Equity, who could end up owning 91% of the company. The regenerative medicine firm plans to delist from AIM, citing high costs and financial pressures, with the funding helping cover working capital needs. Read more
9.15am: 'Kicking their heels'
Trading remains muted ahead of next week's interest-rate announcement in the US, with investors struggling to find fresh positive catalysts, according to interactive investor's Richard Hunter.
Hunter attributes Rolls-Royce's 1.8% rise this morning to a broker upgrade, helping to counter recent weakness linked to the absence of a new buyback and softer flying hours, though its shares remain up 89% this year amid strong defence-sector sentiment.
Cautious buying has also supported the miners, with Anglo American now up 2.8% and Antofagasta 2.5% higher.
“Investors are currently kicking their heels ahead of next week’s Federal Reserve decision on interest rates, with little interim data available to move the dial," Hunter commented.
"With the December rate cut apparently in the bag, thoughts are turning to the pace and level of subsequent reductions next year, especially with the appointment of a potentially dovish new Fed Chair. Inflation remains the elephant in the room, however, and the Fed’s hitherto cautious stance on monetary easing has so far been vindicated."
The FTSE 100 is now 22 points higher at 9,732.67.
8.15am: Footsie off to a positive start
The FTSE 100 started Friday on the front foot, rising 20 points to 9,730.56 in the first 15 minutes of trading.
Rightmove PLC (LSE:RMV) led the gainers with a 2.1% jump, followed closely by Rolls-Royce Holdings PLC (LSE:RR.).
Miners also featured strongly, with Antofagasta PLC (LSE:ANTO), Anglo American PLC (LSE:AAL), Glencore PLC (LSE:GLEN) and Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) gaining between 1.3% and 2%.
On the loser board, oil giant BP PLC (LSE:BP.) sank 2.8%, while Whitbread PLC (LSE:WTB) fell 1%. 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 PLC (LSE:SVT) and SSE PLC (LSE:SSE) are also under pressure, both down around 1%.
Ocado Group PLC (LSE:OCDO) has jumped 10% following news that it will receive $350 million in compensation from US retailer Kroger Co (NYSE:KR, XETRA:KOG) after CFC network changes that will see three of its customer fulfilment centres (CFCs) closed in January.
7.45am: Houses prices hold steady
UK house prices hit pause in November, staying flat at £299,892 after October's 0.5% rise, according to Halifax. Annual growth slowed to 0.7% – the weakest since March – though that's largely because prices were rocketing this time last year.
Amanda Bryden at Halifax reckons it's been "one of the most stable years for the housing market over the last decade," shrugging off spring's stamp duty changes and Budget jitters. And there's a silver lining: affordability's at its strongest since late 2015 for first-time buyers when comparing prices to incomes.
Northern Ireland's still flying with 8.9% annual growth, whilst Scotland and the North West are holding up nicely. London and the South East, though? Still in the red.
The outlook? Bryden expects "gradual" price growth into 2026 as interest rate cuts keep rolling in. Housing transactions edged up 1.8% in October, though mortgage approvals dipped slightly, and buyer demand remains patchy, according to the Royal Institution of Chartered Surveyors (RICS).
7.15am: Muted start expected
The FTSE 100 is likely to edge higher at the open, according to spread-betters, as the market looks to the US Federal Reserve for further direction when it meets next week, with another rate cut on the cards.
London's blue-chip index has been called 3 points higher after ending Thursday's session 18 points up at 9,710.
Overnight, US stocks finished mixed, with tech and growth names giving the Nasdaq a slight lift while the Dow drifted lower.
The Nasdaq ended 0.2% higher, while the S&P 500 eked out a modest gain of 0.1%. The Dow Jones slipped 0.1%, as industrial and blue-chip stocks struggled to find traction.
Asian markets are mostly higher today. Tokyo's Nikkei 225 is down 1.1%, but the Hang Seng index in Hong Kong and Shanghai's SSE Composite are 0.7% higher. In Mumbai, the BSE Sensex is up 0.6% as trading draws to a close, while the ASX 200 in Sydney gained 0.2%.