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Shares in Europe were mostly higher at midday Friday, ahead of US nonfarm payrolls figures for May; meanwhile FTSE 250’s Raspberry Pi surged after upgrading its full-year outlook. The FTSE 100 index was up 39.76 points, 0.4%, at 10,400.48. The FTSE 250 was up 50.93 points, 0.2%, at 23,353.50, and the AIM all-share was down 0.82 points, 0.1%, at 807.44. The Cboe UK 100 was up 0.5% at 1,033.35, the Cboe UK 250 was up 0.7% at 20,132.19, and the Cboe small companies was up 0.7% at 18,987.58. UK firms have said they expect to increase prices less sharply than predicted in the aftermath of the Iran war, but more than half still plan to do so in response to the energy shock, according to Bank of England data. The central bank’s latest survey of finance bosses across UK companies suggested that price growth expectations had eased back slightly in May from the month before. The Decision Maker Panel, DMP, survey showed that firms expected to increase their prices by 4% over the next 12 months, according to data for May. This is 0.4 percentage points lower than predicted in April. However, data for the three months to May also shows firms expect to raise prices by 4% over the year ahead, which is 0.2 percentage points higher than predicted in the three months to April. In European equities on Friday, the CAC 40 in Paris was up 0.4%, while the DAX 40 in Frankfurt was up 0.1%. Fresh data from Eurostat showed the eurozone economy contracted in the first quarter, performing worse than previously estimated. Gross domestic product in the single currency area declined by 0.2% in the first quarter of 2026 compared with the fourth quarter of 2025, reversing the 0.2% growth seen in the prior quarter. The reading was weaker than the 0.1% growth estimate published in mid-May. On an annual basis, eurozone GDP rose 0.3% in the first quarter, revised down from 0.8%. This marked a sharp slowdown from the 1.2% annual growth recorded in the fourth quarter of 2025, which itself was revised down from 1.3%. In currency markets, the pound was quoted at $1.3477 midday Friday, up from $1.3436 on Thursday. Against the euro, sterling ticked up to €1.1571 from €1.1558 a day prior. The euro stood at $1.1640, compared to $1.1624. Against the yen, the dollar was trading at JP¥159.92, slightly lower than JP¥159.99. Stocks in New York were called mixed. The Dow Jones Industrial Average was called up 0.2%, the S&P 500 index down 0.4%, and the Nasdaq Composite down 0.8%. Nvidia Chief Executive Jensen Huang arrived in Seoul Friday for a packed schedule of meetings with tech leaders, promising ‘some surprises’ for South Korea while predicting robotics will be the country’s next major growth sector. The visit comes about seven months after Huang’s last trip to South Korea, when he pledged around 260,000 hi-tech chips for physical and agentic AI to the government and major firms including Samsung Electronics, SK Group and Naver. The yield on the US 10-year Treasury was quoted at 4.48%, widening from 4.47%. The yield on the US 30-year Treasury was quoted at 4.97%, unchanged from Thursday. On the FTSE 100, J Sainsbury led the index, up 2.5%, followed by Experian, up 2.4%. Rightmove added 2.2%, with housing-related stocks supported after Halifax data showed mortgage approvals and housing transactions increased. Scottish Mortgage Investment Trust fell 2.3%. On Thursday, the investment trust increased the valuation of its holding in SpaceX after the company announced plans for a $75 billion initial public offering. Scottish Mortgage said SpaceX now accounts for 21.0% of its portfolio as of June 3, up from 17.9% on April 30, reflecting the higher valuation implied by the proposed listing. SpaceX plans to sell 555.6 million shares at $135 each, valuing the company at $1.765 trillion in what would be the largest IPO on record if completed. On the FTSE 250, Raspberry Pi Holdings surged 19% after upgrading its full-year outlook following strong trading in the first half. The low-cost computer maker expects first-half adjusted Ebitda of at least $38 million, up from $19.4 million a year earlier, with unit sales rising to more than 4 million from 3.6 million. Supported by volume growth, a favourable product mix and inventory benefits, Raspberry Pi now expects full-year adjusted Ebitda to be significantly ahead of market expectations of $42 million. Bodycote dropped 11% after Apollo Global Management said it does not intend to make a takeover offer for the thermal processing engineering company, ending recent bid speculation. Bodycote said it remains confident in its standalone strategy and noted trading has started positively in 2026, having reported 9.0% constant-currency revenue growth in the first four months of the year, driven by strength in Aerospace & Defence and Industrial Gas Turbines. Among smaller caps, Evoke rose 16% after agreeing to a £243 million takeover by Bally’s Intralot, which values the owner of William Hill and 888 at 52p per share. The recommended offer follows five approaches from Intralot during Evoke’s strategic review, launched in response to higher UK gambling duties that the company estimated could increase its annual tax bill by £125 million to £135 million. Under the deal, shareholders can receive new Intralot shares or elect for a cash alternative, subject to a cap. Intralot expects the combination to deliver around £180 million of cost and capital expenditure synergies by the end of the second year after completion and said the enlarged group will benefit from greater scale, improved diversification and a stronger financial profile. Imaging Biometrics advanced 53% after reporting positive phase 2 trial results for its IB Neuro platform, which it said demonstrated meaningful outcomes and the ability to provide early, objective signals of treatment response. The company said the findings position IB Neuro as a significant clinical tool for assessing patient outcomes and supporting treatment decisions. Defence Holdings climbed 29% after confirming publication of a UK government transparency notice relating to a proposed contract for the testing of integrated intelligence capabilities. The company said the notice references a potential three-month engagement valued at £226,000 and relates to the evaluation of its technology offering. Brent oil was quoted at $94.58 a barrel at midday in London on Friday, down from $94.88 late Thursday. Fresh strikes were reported in Lebanon just hours after Israel and Lebanon agreed on Wednesday to implement a ceasefire, conditional on an end to attacks by Hezbollah. Hezbollah is not a signatory to the agreement, and the leader of the Iran-backed group has rejected the pact. Meanwhile, US President Donald Trump said he would be open to meeting Iran’s new supreme leader if a deal to end the war can be reached, and claimed that ‘progress has been made’ in efforts to halt fighting in Lebanon. Gold was quoted at $4,462.00 an ounce, down from $4,471.69 on Thursday. Still to come on Friday’s economic calendar are US nonfarm payrolls and the US unemployment rate for May, alongside Canadian unemployment data and the Ivey PMI. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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