17th Apr 2026 08:54
(Alliance News) - Stock prices in London opened slightly lower on Friday, as investors weighed President Donald Trump's upbeat remarks on the Iran conflict against lingering energy market uncertainty and a flurry of broker-driven stock moves.
The FTSE 100 index opened down 11.88 points, 0.1%, at 10,578.78. The FTSE 250 was down 9.61 points, marginally lower at 22,769.61, and the AIM all-share was up 2.67 points, 0.3%, at 800.47.
The Cboe UK 100 was down 0.1% at 1,054.28, the Cboe UK 250 was up 0.2% at 19,886.02, and the Cboe small companies was down 0.2% at 18,029.84.
In European equities on Friday, the CAC 40 in Paris was up 0.2%, while the DAX 40 in Frankfurt was up 0.1%.
Peace talks between the US and Iran remained in focus. US President Donald Trump said on Thursday that "the war in Iran is going along swimmingly" and predicted it "should be ending pretty soon".
Speaking at an event in Las Vegas, Trump repeated his optimistic assessment of the conflict, echoing similar remarks made since the US and Israel launched attacks on Iran in late February.
"It was perfect. It's perfect. It was the power we have," Trump said. "We had the most powerful military anywhere in the world."
Earlier in the day, Trump said Israel and Lebanon had agreed to a 10-day ceasefire, although Iran has complained about Israel's continued attacks on Lebanon during its own 10-day ceasefire with the United States.
Trump also said a second round of face-to-face negotiations between US and Iranian officials could take place "probably, maybe, next weekend".
Oil prices were little changed. Brent was trading at USD98.06 a barrel early Friday, down slightly from USD98.39 late Thursday.
In currency markets, the pound was quoted at USD1.3513 early Friday, lower than USD1.3532 at the London equities close on Thursday. Against the euro, sterling fell to EUR1.1472 from EUR1.1489 a day prior.
The euro traded at USD1.1780 early Friday, higher than USD1.1777 late Thursday. Against the yen, the dollar was quoted at JPY159.31 versus JPY159.16.
In the UK, the government is preparing plans aimed at reducing the link between gas prices and electricity costs, as policymakers brace for the risk of another spike in household energy bills.
Chancellor Rachel Reeves said she and Energy Secretary Ed Miliband hope to outline the proposals in the coming days. The head of the International Energy Agency recently urged countries to break the link between gas and power pricing.
Gas-fired power plants set electricity prices around two-thirds of the time last month, despite accounting for only about a fifth of the overall electricity mix. However, gas remains the UK's "marginal" fuel, meaning it is the final and most expensive source used to meet demand.
The UK's heavy reliance on imported gas leaves it particularly exposed to price surges such as those seen during the Iran war.
On the FTSE 100, Intertek topped the index, up 1.6% after Barclays raised its price target to 5,902 pence from 5,630 pence and reiterated an 'overweight' rating.
Standard Life rose 1.4% after Citigroup lifted its price target to 840 pence from 769 pence and maintained a 'buy' recommendation.
Reckitt Benckiser also gained 1.4% after Kepler Cheuvreux upgraded the stock to 'buy' from 'hold'.
At the bottom of the index, utilities were under pressure. SSE fell 3.9%, while British Gas-owner Centrica declined 3.8%.
On the FTSE 250, Workspace slumped 15% after warning of a "substantial" year-on-year decline in financial 2027 as it repositions the business in a challenging environment.
The London-based flexible workspace provider reported steady fourth-quarter trading, with 384 lettings completed, totalling GBP8.2 million in rent, down from GBP10.1 million a year earlier. Total rent roll declined 1.4% quarter-on-quarter to GBP127.3 million, reflecting disposals and softer pricing, with a further negative impact on the portfolio expected in the second half.
Chief Executive Officer Charlie Green said: "The opportunity moving forward is to reposition and elevate our offering so that we fully address the changing needs of our customers. In doing so, we will own the value category and be the first-choice provider of space for the start-up, SME and scale-up market.
"This will require investment in our portfolio and our scale will then give us the platform to create a significant market advantage in how we provide for our customers."
Among smaller caps, ITM Power jumped 23% after announcing a strategic partnership with Rheinmetall AG to develop a network of synthetic fuel production plants for NATO.
The Sheffield-based designer and manufacturer of electrolyser systems said defence contractor Rheinmetall's Giga PtX project is "designed to strengthen defence energy resilience, sovereign fuel capability and operational readiness".
Digital 9 Infrastructure plummeted 22% as the investor in internet infrastructure said 323.4 million shares were redeemed at 9.2753 pence each, representing 37% of the company.
In the US on Thursday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.2%, the S&P 500 up 0.3% and the Nasdaq Composite up 0.4%.
However, earnings season saw its first notable disappointment, as streaming giant Netflix plunged 9.6% in after-hours trading following a weak forecast and news that its co-founder is stepping down.
The yield on the US 10-year Treasury was quoted at 4.31%, widening from 4.29%. The yield on the US 30-year Treasury was quoted at 4.93%, widening from 4.91%.
In Asia on Friday, the Nikkei 225 index in Tokyo ended down 1.2%. In China, the Shanghai Composite closed down 0.1%, while the Hang Seng index in Hong Kong closed 1.1% lower. The S&P/ASX 200 in Sydney closed down 0.1%
Gold was quoted at USD4,797.95 an ounce early Friday, slightly below USD4,802.13 on Thursday.
Still to come on Friday's economic calendar are the eurozone current account and trade balance data.
By Eva Castanedo, Alliance News reporter
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