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Blue chip stock indices in London, Paris and Frankfurt were down a notch on Friday midday ahead of US consumer price index inflation data, while leaders from across the globe meet at the Munich Security Conference. The FTSE 100 index was down 16.72 points, 0.2%, at 10,385.73. The FTSE 250 was down 24.46 points, 0.1%, at 23,280.53, and the AIM all-share was down 0.73 points, 0.1%, at 810.40. The Cboe UK 100 was down 0.1% at 1,034.86, the Cboe UK 250 was down 0.1% at 20,625.23, and the Cboe small companies was marginally lower at 18,664.59. The pound was quoted at $1.3606 at midday on Friday in London, lower compared to $1.3628 at the equities close on Thursday. The euro stood at $1.1857, lower against $1.1869. Against the yen, the dollar was trading at JP¥153.27, higher compared to JP¥152.56. On the FTSE 100, NatWest shares were heading for a weekly drop of 10% after forecast-beating results failed to offset a negative reaction to Monday’s £2.7 billion Evelyn Partners deal. The stock was down 2.5% on Friday. Defence stocks were again in focus after UK Defence Secretary John Healey said allies have pledged as much as $35 billion in new military aid to Ukraine to strengthen its air defences following a series of massive Russian air strikes on energy infrastructure and civilian targets. In London, BAE Systems and Babcock were up 1.3% and 0.2% respectively. In continental Europe, Rheinmetall rose 2.0%, while Thales was flat. In Paris, Safran jumped 7.7% after pointing to growth in its defence business as it posted ‘record’ annual results and outlined medium-term financial targets. The aircraft equipment maker reported revenue of €31.19 billion in 2025, up 13% from €27.72 billion in 2024. Safran’s consolidated annual result swung to a profit of €5.96 billion from a loss of €5.05 billion the year before. European leaders were seeking to shore up relations with the US and emphasised efforts to strengthen defence capabilities as they gathered under heavy pressure from President Donald Trump. Political and business leaders, military officers and intelligence officials convened at fortified hotels for the Munich Security Conference to discuss international security and stability. This year’s event comes at a time of strained ties between Europe and the US, after Trump threatened to take over Greenland and criticised European countries’ record on immigration. This year’s event comes amid strained transatlantic ties after Trump threatened to take over Greenland and criticised European countries’ immigration records. Russia’s war against Ukraine, now approaching its fifth year, is high on the agenda, alongside efforts by European NATO members to boost defence spending. In European equities on Friday, the CAC 40 in Paris was down 0.2%, while the DAX 40 in Frankfurt was down 0.4%. Data showed the eurozone economy grew as previously estimated in the fourth quarter of 2025. According to Eurostat, gross domestic product rose 1.3% on-year, easing from 1.4% annual growth in the third quarter. On-quarter, GDP growth was 0.3%, matching both expectations and the prior quarter’s pace. Employment in the eurozone increased 0.6% on-year in the fourth quarter, the same rate as in the third, while quarterly growth in employment was unchanged at 0.2%. Separate trade figures showed the eurozone’s goods trade surplus narrowed on-year in December but widened on-month. The surplus stood at €12.6 billion, down 9.4% from €13.9 billion a year earlier but up 27% from €9.9 billion in November. The bloc’s trade surplus with the US fell 38% on-year to €9.3 billion in December, with exports to the US down 13% to €37.1 billion and imports up 1.6% to €27.8 billion. The trade deficit with China widened 9.4% to €26.8 billion, as exports rose 12% to €18.4 billion and imports increased 10% to €45.2 billion. Conversely, the trade surplus with the UK grew 23% to €13.8 billion, with exports up 8.4% and imports down 4.6%. The surplus with Switzerland jumped 66% to €7.3 billion. Stocks in New York were called lower. The Dow Jones Industrial Average was called down 0.4%, as were the S&P 500 index and the Nasdaq Composite. The yield on the US 10-year Treasury was quoted at 4.11%, narrowing from 4.12% on Thursday. The yield on the US 30-year Treasury was quoted at 4.74%, narrowing from 4.76%. Back in London, AstraZeneca was up 1.4% after reporting positive phase III results for Breztri Aerosphere in patients with uncontrolled asthma. The pharmaceutical group said regulatory filings for Breztri in asthma are under review in major regions, building on its existing approvals for chronic obstructive pulmonary disease. On the FTSE 250, GCP Infrastructure Investments shares saw little change. The closed-ended investment company advised by Gravis Capital Management reported a net asset value of 100.27 pence per share at December 31, with a portfolio valued at £853.8 million across 47 investments. Net debt stood at around £14 million at the period end, compared with £8 million at September 30, with £24 million drawn under its revolving credit facility. After shares fell as much as 14% on Thursday following annual earnings, recently spun-off Magnum Ice Cream recovered, rising 1.4%. It was disclosed that several directors bought shares, with purchases totalling €1.3 million and including transactions by the chief financial officer, chief of staff, president of the Americas, president of Europe and Australia & New Zealand, and the chief legal officer on Thursday. Among smaller caps, Aferian rose 11% as the company said it continues to explore a sale of Amino and 24i. It also extended its $16.5 million banking facilities to March 20, 2026. Brent oil was quoted at $67.01 a barrel at midday in London on Friday, down from $68.08 late Thursday. Gold was quoted at $4,941.90 an ounce, up against $4,932.33. Still to come on Friday’s economic calendar is US CPI data. According to FXStreet-cited consensus, headline inflation is expected to have risen 2.5% year-on-year in January, easing from 2.7% in December. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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