26th Jun 2026 12:00
(Alliance News) - Stock prices in London were lower at midday on Friday, although markets largely disregarded the ongoing tense atmosphere around the Middle East conflict.
Meanwhile, US stocks were called lower over consumer electronics supply concerns and the possibility that OpenAI will delay its IPO.
The FTSE 100 index was down 78.79 points, 0.8%, at 10,451.10. The FTSE 250 was down 217.64 points, 0.9%, at 22,943.77, and the AIM all-share was down 6.29 points, 0.8%, at 765.63.
The Cboe UK 100 was down 0.8% at 1,036.78, the Cboe UK 250 was down 1.0% at 19,671.68, and the Cboe small companies was down 0.2% at 17,959.58.
On the FTSE 100, BP was down 1.7% while Shell lost 0.9%. On the FTSE 250, Ithaca Energy lost 3.5%, while Hunting was down 1.7%.
Brent crude was quoted lower at USD72.86 per barrel at midday in London on Friday, from USD74.42 late on Thursday.
Relative calm in the Middle East continues, with talks extended between Israel and Lebanon. Meanwhile, International Atomic Energy Agency head Rafael Grossi has said that "Initial conversations have taken place" regarding his agency's contact with Iran. "We expect this work to pick up soon," he added.
"Although a vessel being struck by Iran off the coast of Oman offered a reminder to take nothing for granted despite the increase in shipping flows through the Strait of Hormuz," AJ Bell Head of Financial Analysis Danni Hewson added.
FTSE 250-listed housebuilder Berkeley Group was down 4.7%. Other housebuilders followed suite, with Vistry down 3.4% and Taylor Wimpey down 1.3%. However, Bellway was up 0.4%, having earlier risen 2.9%.
On the FTSE 100, Barratt Redrow was down 0.9%, although it was trading higher earlier on Friday.
Berkeley has applied for a judicial review of the Planning Inspectorate's decision to refuse planning permission for its proposed redevelopment of the Aylesham Centre in Peckham, southeast London.
Berkeley said its proposal would deliver 867 homes, including private and affordable housing, alongside a new Morrisons supermarket.
Also, Berenberg has cut its rating to 'hold' from 'buy', with a price target of 4,000 pence. Conversely, it raised Bellway's rating to 'buy' from 'hold', and raised its price target to 2,400p from 2,100p.
Berenberg also raised Barratt Redrow to 'buy' from 'hold', and raised its price target to 348p from 414p. Additionally, the company confirmed that incoming Chief Executive Officer Dean Banks will join Barratt on September 21.
Outgoing CEO David Thomas will remain in post until Banks joins and will remain with the company until March 2027 to facilitate the transition.
On AIM, Distribution Finance Capital rose 12%.
The Manchester, England-based provider of financing solutions for dealers and manufacturers expects new loan origination in the first half of 2026 to close at around GBP1 billion, up 21% from GBP828 million in the previous year.
It also expects to report pretax profit of at least GBP13 million for the first half, up 44% from GBP9.0 million.
Distribution Finance also said it expects 2026 results to "materially exceed current market expectations," noting the continued shift of its loan book towards longer-tenor loans, which it said generate additional near-term financial benefits.
In European equities on Friday, the CAC 40 in Paris was down 0.6%, while the DAX 40 in Frankfurt was down 1.2%.
The pound was quoted slightly higher at USD1.3219 midday Friday, compared to USD1.3213 Thursday. Against the euro, sterling fell to EUR1.1588 from EUR1.1604 a day prior.
The euro stood at USD1.1405, higher against USD1.1387. Against the yen, the dollar was trading slightly lower at JPY161.60 compared to JPY161.63.
Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.2%, the S&P 500 index down 0.6%, and the Nasdaq Composite down 1.3%.
A sell-off for tech companies continued on Thursday, despite "bumper results" from Micron, which "helped manufacture some momentum", Hewson said. Apple was up 0.4%, but had closed down 6.2% the previous day, having "axed [any momentum] overnight as it put up prices on a broad range of products."
"One follows from the other as Micron is among the companies to enjoy a wave of unprecedented demand thanks to demand for chips for AI data centres, a dynamic which is putting the squeeze on supply for other areas like consumer electronics," Hewson elaborated. "Apple shares slumped overnight to reflect concern that its price hikes will depress demand without going far enough to avoid pressure on margins."
She added: "Sentiment in the tech space took a further hit on speculation that OpenAI might postpone its blockbuster IPO until 2027. This move would be heavy with symbolism given the company essentially kicked off the whole AI theme in earnest with the launch of ChatGPT in 2022."
Micron was down 5.2% pre-market on Friday.
By contrast, Hewson said, "the UK market's limited weighting in technology was a boon for once" as the FTSE 100 "avoided the scale of losses seen for many of its global counterparts".
The yield on the US 10-year Treasury was quoted at 4.38%, narrowing from 4.39%. The yield on the US 30-year Treasury was quoted at 4.86%, widening from 4.85%.
Gold was quoted higher at USD4,049.49 an ounce against USD4,025.66.
Still to come on Friday's economic calendar, the US has goods trade balance and wholesale inventories data.
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
BPShellHuntingIthaca EnergyBerkeley GroupVistry GrpTaylor WimpeyBarratt RedrowBellwayDistrib. Fin.