9th Oct 2026 09:13
(Alliance News) - Stock prices in London opened higher on Friday, supported by gains for mining stocks as precious metals prices climbed, while oil prices retreated after US President Donald Trump ruled out attacking Iran before the US midterm elections.
The FTSE 100 index opened up 80.87 points, 0.8%, at 10,522.47. The FTSE 250 was up 246.29 points, 1.0%, at 24,189.89, and the AIM All-Share was up 4.69 points, 0.6%, at 775.36.
The Cboe UK 100 was up 0.7% at 1,043.62, the Cboe UK 250 was up 1.4% at 21,060.35, and the Cboe Small Companies was up 0.3% at 18,746.93.
In European equities on Friday, the CAC 40 in Paris was up 0.8%, while the DAX 40 in Frankfurt also rose 0.8%.
Brent oil traded at USD103.03 a barrel early Friday, down from USD105.57 late Thursday.
US President Donald Trump ruled out military strikes against Iran before the November 3 midterm elections, saying Washington was holding "productive discussions" with Tehran.
Trump's comments on his Truth Social platform followed a surge in oil prices on Thursday, fuelled by reports suggesting the US could launch fresh strikes against Iran ahead of the elections.
"I want to make it clear to everybody that, while Iran is in very bad condition, both Economically and Militarily, and while the Blockade will remain in full force and effect...we will not be attacking Iran at any time prior to the Midterm Elections," Trump wrote.
"We are having productive discussions with the Islamic Republic of Iran," he added, without providing further details.
Oil prices have also been supported by persistent tensions in the Strait of Hormuz, a crucial shipping route for global energy supplies, and hostilities between Yemen's Houthis and Saudi Arabia.
Gold was quoted at USD4,192.29 an ounce early Friday, higher than USD4,116.87 on Thursday.
In the FTSE 100, miners were among the leading risers, with Antofagasta up 2.7% and Fresnillo gaining 2.6% as precious metals prices strengthened.
Software company Sage Group topped the blue-chip index, rising 3.4%.
Telecommunications stocks were among the worst performers, with Vodafone Group down 3.7%, Airtel Africa down 2.5% and BT Group down 2.3%.
Airtel Africa's mobile money business, Airtel Mobile Commerce NV started trading on the London Stock Exchange on Friday, the largest IPO there since Wise Group in 2021. Only conditional dealings commenced.
Trading under the ticker AMC, the company, which operates as Airtel Money, expects admission to the Financial Conduct Authority's Official List and unconditional dealings to begin on Wednesday.
Notably, Airtel Africa said it "is not selling existing Airtel Money shares in the offer and is expected to remain a long-term strategic shareholder and to support Airtel Money's next phase of development as an independently listed business."
The offer price was set at 196 pence per share, valuing Airtel Money at GBP5.3 billion, approximately USD7.0 billion, as announced on October 1.
Only investors allocated shares in the offering will be able to participate in conditional dealings.
Airtel Money Chief Executive Officer Ian Ferrao said: "Today is a landmark moment for Airtel Money. Our listing in London marks an important new chapter for our business and reflects what we have built across Africa and the significant opportunity ahead."
Elsewhere in the FTSE 100, DCC Energy shares edged down 0.1% after the company agreed to sell its Nexora technology division ahead of its planned private equity takeover.
The Dublin-based energy sales, marketing and distribution services provider said it had agreed to sell Nexora to funds managed or advised by One Equity Partners at an enterprise value of USD725 million.
DCC expects net proceeds of USD701 million from the disposal, allowing shareholders to receive an additional 42 pence per share on top of the agreed takeover consideration.
In July, DCC agreed to a GBP5.75 billion takeover by a consortium comprising funds advised by Kohlberg, Kravis, Roberts & Co and Energy Capital Partners Management.
The consortium agreed to pay 6,525p per DCC share.
In the FTSE 250, SSP Group was the worst performer, falling 3.7% despite reporting higher fourth-quarter like-for-like sales and announcing a new share buyback programme.
The travel food and beverage operator said like-for-like sales rose 4% in the fourth quarter ended September 30, despite subdued passenger numbers in Asia Pacific, the Eastern Mediterranean and the Gulf due to the Middle East conflict.
SSP expects full-year revenue to increase 5% to around GBP3.8 billion at constant currency, while earnings per share are forecast to rise 18% to approximately 14.0p, in line with market expectations.
However, operating profit is expected to fall slightly short of plan at around GBP230 million, while free cash flow after interest is forecast at approximately GBP70 million.
The company expects its Continental European operating margin to improve to around 3% from 2.2% a year earlier, supported by its restructuring programme.
SSP also announced a new share buyback programme worth up to GBP50 million following the completion of its previous programme.
Morgan Advanced Materials topped the FTSE 250 after RBC upgraded the company to 'outperform' from 'sector perform' and raised its price target to 330p from 250p.
The pound was quoted at USD1.3240 early Friday, higher than USD1.3214 at the London equities close on Thursday. Against the euro, sterling fell to EUR1.1790 from EUR1.1799 a day earlier.
The euro rose to USD1.1231 early Friday from USD1.1198 late Thursday. Against the yen, the dollar strengthened to JPY158.35 from JPY158.26.
In Asia on Friday, the Nikkei 225 index in Tokyo closed marginally lower. In China, the Shanghai Composite ended marginally higher, while the Hang Seng index in Hong Kong jumped 1.5%. The S&P/ASX 200 in Sydney closed up 0.6%.
In the US on Thursday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.1%, the S&P 500 down 0.5% and the Nasdaq Composite down 1.3%.
The yield on the US 10-year Treasury was quoted at 5.24%, narrowing from 5.34%. The yield on the US 30-year Treasury was quoted at 5.61%, narrowing from 5.66%.
Still to come on Friday's economic calendar are industrial production figures from Ireland and Canada's latest unemployment rate.
In the US, the University of Michigan releases its preliminary consumer sentiment index.
By Eva Castanedo, Alliance News senior economics reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
SSP GroupAirtel AfricaAirtel Mob (wi)VodafoneBTAntofagastaFresnilloMorgan Advanced MaterialsWise Group