|
Stock prices in Europe opened higher on Friday, as investors wait for new US data ahead of next week’s US Federal Reserve decision. Equities in New York were mixed on Thursday, with trade lacking impetus ahead of Wednesday’s Fed rate call. Among London listings, Ocado shares shot up after it announced a cash payment from partner Kroger, while Trustpilot recovered some lost ground after a deep slump on Thursday when it was lambasted by a short-seller. The FTSE 100 index traded up 18.41 points, 0.2%, at 9,729.28. The FTSE 250 was up 59.86 points, 0.2%, at 22,130.85, and the AIM All-Share was up 3.53 points, 0.5%, at 752.96. The Cboe UK 100 was up 0.1% at 974.72 and the Cboe UK 250 was up 0.3% at 19,235.27. The Cboe Small Companies was up 0.4% at 17,707.29 The CAC 40 in Paris was up 0.2%, while the DAX 40 in Frankfurt was 0.5% higher. In New York on Thursday, the Dow Jones Industrial Average fell 0.1%, the S&P 500 edged up 0.1% and the Nasdaq Composite added 0.2%. The pound edged up to $1.3357 early Friday, from $1.3353 at the time of the London equities close on Thursday. The euro was flat at $1.1659 from $1.1658. Against the yen, the dollar was unmoved at JP¥154.75. Gold rose to $4,224.76 an ounce, from $4,214.64. A barrel of Brent faded to $63.13 from $63.45 at the time of the London equities close on Thursday. Shell fell 0.8% in London, while BP shed 1.1%. The yield on the 10-year US Treasury was at 4.11%, stretching slightly from 4.10% at the time of the London equities close on Thursday. The 30-year yield widened to 4.77% from 4.76%. In Tokyo, the Nikkei 225 fell 1.1%. In China, the Shanghai Composite ended 0.7% higher, while the Hang Seng Index in Hong Kong was up 0.6%. Sydney’s S&P/ASX 200 rose 0.2%. Friday’s economic events calendar has belated US personal income and outlays data at 1500 GMT. Before that, there is eurozone gross domestic product data at 1000 GMT. ‘Today’s PCE data will have little impact on expectations for next week’s Fed meeting. Both headline and core are expected to stick near 3%, but steady. Absent a shock, US equities likely finish the week on an upbeat note,’ Swissquote analyst Ipek Ozkardeskaya commented. In London, Ocado shot up 10%. It is to receive a $350 million cash payment from Cincinnati, Ohio-based retail company Kroger after an announcement that three customer fulfilment centres will be closed, with plans for another planned for next year not proceeding. ‘This payment reflects Kroger’s decision to close three CFCs in January 2026, as well as a decision by Kroger not to proceed with Charlotte, one of the two planned CFCs due to go-live in 2026,’ the grocer and warehouse technology firm said. Ocado and Kroger struck a deal back in 2018, when they had agreed to build customer fulfilment centres, known as CFCs, where automated robots sort orders. Kroger announced in November that it will close three CFCs in Frederick, Pleasant Prairie and Groveland. Frederick is in Maryland, Pleasant Prairie in Wisconsin and Groveland is in Florida. Ocado Chief Executive Officer Tim Steiner said Friday: ‘We continue to invest significant resources to support our partners at Kroger, and to help them build on our longstanding partnership. Ocado’s technology has evolved significantly to include both the new technologies that Kroger is currently deploying in its CFC network, as well as new fulfilment products that bring Ocado’s technology to a wider range of applications, including Store Based Automation to support ’pick up’ and immediacy.’ Trustpilot Group added 11%, recovering some of its 32% slump from Thursday. Grizzly Research had accused the Copenhagen-based consumer review platform of ‘mafia-style extortion campaigns against non-paying businesses’. Trustpilot said in response: ‘The report presents a series of claims that are selective, misleading and framed to support a predetermined narrative. It omits key context and publicly available facts, creating a false impression and exhibits a lack of understanding of how Trustpilot works. Trust is our guiding principle and is central to everything we do.’ Trustpilot Chief Financial Officer Hanno Damm on Thursday bought 50,000 shares at just under £1.40 each, £69,875 in total, a filing on Friday showed. Big Yellow fell 5.6%. Blackstone confirmed it does not plan to make an offer for self-storage firm Big Yellow. Big Yellow on Thursday had said talks with a Blackstone unit over a possible bid had ended. The Bagshot, Surrey-based self-storage site operator said Blackstone Europe, part of New York-based private equity investment manager, had updated the company on the status and valuation level of a possible offer. Big Yellow said after consideration it concluded that there is no basis for continuing discussions with Blackstone, adding the put-up or shut-up deadline of December 8 will not be extended. Elsewhere in London, Anglesey Mining jumped 58%. The explorer of the Parys Mountain zinc, copper, lead, silver and gold asset said it is now on a ‘much firmer financial footing’. It has struck a deal with its largest shareholder and largest creditor Energold Minerals which the London listing believes will ‘allow for a comprehensive restructuring and improvement of the balance sheet of Anglesey’. Anglesey will eliminate £4 million of debt in exchange for its stake in Grangesberg Iron and Labrador Iron Mines holding. This deal reduces outstanding debt to £100,000, it said. Meanwhile, Energold will invest £350,000 into Anglesey through a warrant offering. ‘We are pleased to announce this series of measures today that we believe place Anglesey on a much firmer financial footing from which to progress our 100% owned Parys Mountain and deliver long term value for our shareholders. Our confidence in the future of Anglesey is shared by our largest shareholder, Energold, and we appreciate the support they have provided to the company as a strategic investor and now through this debt settlement agreement and their new investment through the warrant offering,’ Anglesey Chair Andrew King said. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
