27th Mar 2026 09:04
(Alliance News) - Stock prices in London opened mixed on Friday, with the FTSE 100 edging higher despite continued uncertainty regarding Iran peace talks and muted sentiment across European markets.
The FTSE 100 index opened up 11.36 points, 0.1%, at 9,984.18. The FTSE 250 was down 67.60 points, 0.3%, at 21,228.47, and the AIM all-share was down 1.89 points, 0.3%, at 717.17.
The Cboe UK 100 was up 0.2% at 994.83, the Cboe UK 250 was down 0.5% at 18,435.79, and the Cboe small companies was up 0.4% at 17,047.53.
In European equities on Friday, the CAC 40 in Paris was marginally lower, while the DAX 40 in Frankfurt was down 0.1%.
Sterling edged lower after UK retail sales for February fell by less than expected.
The pound was quoted at USD1.3312 early Friday, lower than USD1.3338 at the London equities close on Thursday. Against the euro, sterling stood at EUR1.1560, edging down from EUR1.1561 a day prior.
The euro traded at USD1.1517 early Friday, lower than USD1.1563 late Thursday. Against the yen, the dollar was quoted at JPY159.91 versus JPY159.65.
UK retail sales volumes declined in February, though the drop was milder than anticipated, according to the Office for National Statistics. Sales fell 0.4% on the month after a revised 2.0% increase in January, outperforming FXStreet forecasts for a 0.8% decline, with weaker supermarket demand and softer online sales weighing on performance.
Despite the monthly fall, sales volumes rose 0.7% in the three months to February compared with the prior three-month period. They were 3.0% higher over the three months compared with a year earlier, while on an annual basis, retail sales volumes increased 2.5% in February, down from 4.8% in January but above FXStreet expectations of a 2.1% rise.
The ONS said spending remains slightly below pre-pandemic levels, though recent growth has been supported by stronger non-store retail performance and solid sales earlier in the year.
Brent oil was trading at USD109.54 a barrel early Friday, higher than USD108.80 late Thursday.
Markets were subdued at the open after US President Donald Trump extended the deadline for Iran to reopen the Strait of Hormuz by 10 days. Oil hovered close to USD110 a barrel after Trump's decision failed to fully calm concerns about global energy supplies.
In a Truth Social post late Thursday, Trump extended the deadline until April 6, saying talks with Tehran to end the war were "going very well".
Iran delivered its response to a 15-point US peace plan on Thursday, presenting counterproposals that included asserting Tehran's sovereignty over the strait, according to an official cited by state media. Military strikes continued, with Israel launching further attacks on Tehran and Gulf countries facing additional missile barrages from Iran.
The US is also weighing sending up to 10,000 additional troops to the Middle East, US media reported Friday, fuelling speculation that Washington could be preparing for a potential ground operation in Iran.
The deployment would significantly bolster US military presence in the region, despite Trump's repeated assertions that Tehran is engaged in peace talks.
The Wall Street Journal reported that the move would provide Trump with "more military options" in a region engulfed by conflict since US-Israeli strikes on Iran on February 28.
The additional forces would join thousands of paratroopers and Marines already deployed.
An Iranian official said Wednesday that Tehran would respond to any US ground invasion by activating its Houthi allies in Yemen to target shipping in the Red Sea, potentially opening a new front in a conflict already carrying substantial economic, political and military risks.
Trump has repeatedly said he does not plan to deploy ground troops into combat with Iran.
The Journal added that while the exact deployment locations remain unclear, troops would likely be positioned within striking distance of Iran and Kharg Island, a key oil export hub.
On the FTSE 100, Metlen Energy & Metals was the biggest faller, down 11%, after delaying publication of its 2025 full-year results by nine days at the request of auditors PwC, who require additional time to complete audit procedures following the group's dual listing in London and Athens.
The company now expects to release results on April 9 and reiterated its 2025 Ebitda guidance of around EUR750 million.
AstraZeneca led the blue-chip index, up 3.0%, after reporting positive phase-three trial results for its chronic obstructive pulmonary disease treatment, tozorakimab.
The Cambridge-based pharmaceutical company said the drug delivered "significant and highly clinically meaningful reductions in COPD exacerbations" in two replicate trials, Oberon and Titania.
Tozorakimab is a monoclonal antibody targeting interleukin-33, designed to inhibit signalling of reduced and oxidised forms of IL-33, with the potential to reduce inflammation and disrupt mucus dysfunction that contributes to COPD progression.
Every four weeks, study participants were dosed with 300 milligrams of the drug. The study population was made up of patients still reporting symptom exacerbations while on inhaled standard of care, which AstraZeneca said is the case for more than 50% of COPD patients, "putting them at an increased risk of cardiopulmonary events and mortality".
On the FTSE 250, Playtech was the top performer, up 3.5%, after beginning a buyback of up to 5.7 million shares, to be completed by its 2026 AGM.
Among smaller caps, Switch Metals dropped 17% as it neared a maiden tantalum resource estimate at Issia following completion of fieldwork.
In Asia on Friday, the Nikkei 225 in Tokyo ended down 0.4%. In China, the Shanghai Composite closed up 0.6%, while the Hang Seng in Hong Kong rose 0.4%. The S&P/ASX 200 in Sydney ended down 0.1%.
In the US on Thursday, Wall Street closed lower, with the Dow Jones Industrial Average down 1.0%, the S&P 500 down 1.7% and the Nasdaq Composite down 2.4%.
The yield on the US 10-year Treasury was quoted at 4.45%, widening from 4.40%. The yield on the US 30-year Treasury was quoted at 4.97%, widening from 4.94%.
Gold was quoted at USD4,440.485 an ounce early Friday, up from USD4,383.70 on Thursday.
Still to come on Friday's economic calendar are Ireland retail sales and Canada budget balance data.
By Eva Castanedo, Alliance News reporter
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