UK and European equity markets opened broadly steady on Friday, with the FTSE 100 edging just 0.01 per cent higher to reach 10,400.46 at the open.
European peers were similarly subdued, with the Euronext 100 slipping 0.02 per cent while Germany’s DAX outperformed with a gain of 0.19 per cent.
Overnight sentiment from the United States was more positive, with both the Nasdaq closing at 26,517.93 and the S&P 500 finishing at 7,500.58 after moving higher.
Investors continued to weigh UK political uncertainty, Federal Reserve policy expectations, and shifting developments in global trade and geopolitical relations.
Oil markets were also in focus, with supply flows through the Strait of Hormuz showing signs of improvement and easing some concerns over potential disruption to global energy supplies.
Marks Electrical (LSE:MRK) reported an 8 per cent fall in FY26 revenue, as the online electricals retailer pulled back from lower-margin marketplace activity to concentrate on its core direct sales operations.
The results underline persistent pressure on consumer spending and retail margins, with the company’s strategic pivot away from marketplace sales weighing on top-line growth in the near term.
Union Jack Oil (LSE:UJO) confirmed it will abandon the Crossroads well in Oklahoma after testing failed to deliver commercial hydrocarbon flows from the site.
The decision marks a significant setback for Union Jack Oil’s US growth strategy, removing what had been seen as a potential near-term production catalyst for the company.
Commodity markets presented a mixed picture at the open, with gold and copper both moving higher while Brent crude and natural gas eased lower on the session.
Sterling showed a varied performance against major currencies, weakening against the Swiss franc and Australian dollar while strengthening modestly against the euro and US dollar, reflecting broader macroeconomic caution.
The US dollar was up 0.01 per cent against sterling at $1.3202, while the euro edged 0.01 per cent higher to €1.1521 and the Japanese yen gained 0.01 per cent to ¥212.944.
Bitcoin remained a point of interest for traders, with BTC/GBP quoted at £47,647 at the open, representing a modest move higher during the session.