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Stock prices in London were mostly lower at midday on Friday, although the price of Brent decreased despite further escalation in the Middle East. Also, investors digested fresh eurozone inflation figures and wait for several US data releases, including industrial production. The FTSE 100 index was down 7.75 points, 0.1%, at 10,564.16. The FTSE 250 was down 101.91 points, 0.4%, at 23,613.92, and the AIM All-Share was down 0.9% at 759.30. The Cboe UK 100 was up 0.1% at 1,049.11, the Cboe UK 250 was marginally lower at 20,482.39, and the Cboe Small Companies was down 0.5% at 18,333.73. In European equities on Friday, the CAC 40 in Paris was down 0.6%, while the DAX 40 in Frankfurt also fell 0.6%. Fresh data from Eurostat confirmed that eurozone inflation eased in June as energy price pressures moderated. Annual inflation in the euro area slowed to 2.8% in June from 3.2% in May, matching both the preliminary estimate and the FXStreet-cited consensus. Inflation nevertheless remained above the 2.0% rate recorded a year earlier. Across the wider European Union, annual inflation eased to 2.9% from 3.3%, while monthly consumer prices in both the euro area and the EU fell 0.1%. Core inflation, which strips out energy, food, alcohol and tobacco, slowed to 2.4% from 2.6%, while inflation excluding only energy and unprocessed food eased to 2.1% from 2.3%. Among member states, Sweden recorded the lowest annual inflation rate at 1.0%, followed by Czechia at 1.1% and Denmark at 1.8%. Romania remained the highest at 9.2%, ahead of Lithuania at 5.4% and Bulgaria at 5.2%. Meanwhile, geopolitical tensions remained elevated despite a slight retreat in oil prices overnight. Brent crude was quoted at $84.36 a barrel at midday on Friday, down from $84.75 late Thursday, although geopolitical tensions remained elevated. Iranian state media said deadly US strikes hit an airport, a railway station in the port city of Bandar Abbas and two bridges near the Strait of Hormuz. Iran responded by targeting US military infrastructure in Kuwait, saying it had launched drones against troop positions and logistical support facilities, while Bahrain and Qatar also reported attacks. The pound was quoted at $1.3461 at midday on Friday, higher than $1.3431 at the London equities close on Thursday. Against the euro, sterling traded at €1.1750, down from €1.1791. The euro stood lower at $1.1431, compared with $1.1444, while the dollar eased to JP¥162.28 from JP¥162.39. Back in London, Vodafone Group rose 2.8%. The telecommunications firm said Vega, the investment vehicle owned by the family of billionaire telecoms investor Xavier Niel, will acquire Emirates Telecommunications Group’s entire 16.2% stake through counterparty banks at 110.48 pence per share. Following regulatory approvals and the settlement of related financial instruments, Vega expects to increase its holding to around 18.8% of Vodafone’s share capital and 19.9% of its voting rights, making it the company’s largest shareholder. Vega said it intends its investment to be ‘a long-term, strategic minority shareholding’ and reiterated it has no intention of making a takeover offer for Vodafone. Burberry Group was the biggest FTSE 100 faller, down 5.2%, after investors looked past its upbeat first-quarter update and focused instead on continued weakness in the Middle East, where the ongoing US-Iran conflict weighed on regional sales. GSK lost 3.2% after reporting mixed phase 3 results for its experimental chronic cough treatment, camlipixant. While the Calm-1 study met its primary endpoint at week 12, the Calm-2 trial and the lower 25 milligram dose failed to achieve statistical significance. GSK said the overall results demonstrated ‘limited efficacy’ and indicated the treatment was ‘unlikely to transform patient care’. As a result, it ‘has decided not to progress further development of camlipixant in RCC.’ In the FTSE 250, Ocado Group rose 6.0%, extending gains after Thursday’s results, while recruiter Hays climbed 5.0%. Ceres Power Holdings fell 9.2%, while Eurowag lost 7.5% after TA Associates completed a £30 million sale of shares in the transport payments company. Among smaller companies, Itaconix surged 24% to 146.00 pence after reporting record first-half revenue and upgrading its full-year sales outlook. The firm said revenue rose 72% to $8.3 million from a year earlier, driven by strong demand across its performance ingredients and Sparx formulated solutions businesses in Europe and North America. It now expects full-year revenue of at least $14.8 million, ahead of market expectations of $13.3 million, while maintaining guidance for a small positive Ebitda despite continued investment in headcount and product development. Gross margin is expected to remain broadly stable at around 36%, and the company said it continues to advance longer-term opportunities in paints and agricultural ingredients. In the US, Wall Street was called lower after Thursday’s losses. Dow Jones Industrial Average futures were down 0.6%, S&P 500 futures fell 0.8%, and Nasdaq futures dropped 1.6%. Investors now await a fresh batch of US economic data. Import prices are due at 1230 GMT and are expected to fall 0.7% month-on-month in June after rising 1.9% in May. Export prices are also forecast at 1230 GMT, with economists expecting a 0.4% monthly decline following a 1.3% increase. The yield on the US 10-year Treasury was quoted at 4.55%, narrowing from 4.57%. The yield on the US 30-year Treasury was quoted at 5.07%, narrowing from 5.10%. Gold was quoted at $3,995.74 an ounce at midday, down from $4,014.58 on Thursday. Still to come on Friday’s economic calendar, the US releases building permits, export and import prices, and industrial production data. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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