The FTSE 100 held flat on Friday as easing Middle East tensions calmed markets, with Vodafone jumping 11% on a shareholder change. St James's Place led the fallers, dropping 9% after a partner firm moved to cut ties.
The FTSE 100 was little changed at 10,474 on Friday as tensions in the Middle East eased amid reports the US remained open to talks with Iran. The latest strikes had a far milder impact on stocks than earlier flare-ups, and oil prices eased back.
Vodafone leads a quiet market
Vodafone shares rose 11%, sitting at the top of the leaderboard after a major shareholder change. The move pulled BT along with it, and BT added around 2%.
Miners also drew buyers as investors regained their appetite for risk. According to AJ Bell's Dan Coatsworth: "Miners were also in demand as investors regained their risk appetite." Among mid-caps, EasyJet climbed as a new party entered its takeover battle.
St James's Place and AstraZeneca slide
Not every name joined the rally. St James's Place fell 9%, the index's top faller, after news broke that one of its partner firms would break ties. AstraZeneca dropped again following disappointing results from a drug trial the day before.
Oil eases as strikes fade
The calmer mood showed in commodities, where Brent crude traded down 0.2% at $76.12. Oil prices eased back, and the FTSE 100 drifted rather than swung.
Chip maker SK Hynix begins trading on US markets later in the session. According to Coatsworth, the company has had a blockbuster year thanks to soaring memory chip prices.
Source: UK Investor Magazine
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