The FTSE 100 rose 0.30 per cent to 10,436.22 on Friday as investors assessed developments surrounding Iran ceasefire negotiations and their implications for global risk assets.
European markets were more cautious, with the CAC 40 falling 0.23 per cent to 8,188.87 and the DAX declining 0.34 per cent to 25,092.25, reflecting broader uncertainty across the continent.
US markets were largely flat overnight, with the Nasdaq edging up just 0.01 per cent to 30,225.4 and the S&P 500 dipping 0.01 per cent to 7,570.3.
Commodity markets presented a mixed picture, with gold rising 0.40 per cent to 4,513.90 and Brent crude easing 0.78 per cent to 91.700 amid moderating concerns over energy supply disruption.
Natural gas climbed 0.55 per cent to 3.313 while copper softened slightly, falling 0.08 per cent to 6.44795 during morning trading.
Sterling weakened against all major currencies, falling 0.15 per cent against the US dollar to trade at $1.3423 and 0.07 per cent against the euro to €1.1525.
Bitcoin advanced 0.30 per cent against the pound to reach £54,870.2, indicating continued appetite for alternative assets among investors.
Asda has selected Ocado Group (LSE: OCDO) to help develop its online grocery business, deploying Ocado’s technology and automation platform across the UK operation.
The agreement strengthens Ocado’s position in UK grocery fulfilment while supporting Asda’s drive to improve its digital offering and operational efficiency against major competitors.
Russ Mould, investment director at AJ Bell, described the deal as “some much-needed good news” for Ocado, adding that it may help Asda challenge Tesco and Sainsbury’s at a time when its market position looks fragile.
Leeds-based Asda is one of the UK’s largest grocers, recording total sales of more than £21 billion in 2025 and operating across 1,100 stores nationwide, fulfilling more than 700,000 ecommerce orders weekly.
Based on comparable arrangements, Bank of America estimates fees in the range of 0.7 per cent to 1.0 per cent of sales, implying significant annual revenue potential from the partnership.
Separately, Drax Group (LSE: DRX) has taken commercial control of its first 299MW open-cycle gas turbine plant located at Hirwaun in South Wales.
The new Hirwaun facility increases Drax’s flexible generation capacity and supports grid resilience as the UK continues its energy transition away from fossil fuels.