Stocks in Europe continued to fare higher on Friday midday as investors await a personal consumption expenditures data print from the US, which is the key inflationary gauge for the Federal Reserve.
In UK news, the number of UK home sales picked up by a quarter month on month in May following a plunge in April as a stamp duty holiday ended, according to HM Revenue & Customs figures.
Across the UK, around 81,470 home sales were recorded provisionally in May, which was 25% higher than April but a 12% fall compared with May 2024.
The FTSE 100 index was up 38.94 points, 0.5%, at 8,774.54. The FTSE 250 was up 119.30 points, 0.6%, at 21,593.96, and the AIM All-Share was up 0.35 points at 767.39.
The Cboe UK 100 was up 0.4% at 873.95, the Cboe UK 250 was up 0.6% at 19,112.83, and the Cboe Small Companies was up 0.5% at 17,356.92.
‘Investors were in a good mood at the end of the trading week with gains seen across European indices and many parts of Asia,’ commented AJ Bell’s Russ Mould. ‘Geopolitical tensions have eased back, for now, and risk appetite has improved...Corporate news was thin on the ground which gave investors time to take stock and think about portfolio positioning as we head into the second half of the year.’
On the FTSE 100, Barratt Redrow gained 0.8%.
The Leicestershire, England-based housebuilder said it had completed the £50 million buyback programme announced in February, with 11.3 million shares repurchased for £50 million. The buybacks are part of an ongoing plan to return at least £100 million per year.
JD Sports Fashion led the large-cap index at midday, rising 6.6%. Mould said it ‘burst to life off the back of Nike‘s results’.
Nike shares had closed 2.8% higher in New York on Thursday, and were 9.2% higher pre-market on Friday. The athletic footwear and apparel company reported a drop in annual profit amid softer revenue.
However, it declared increased fourth-quarter and full-year dividends, and outlined an action plan to mitigate the $1 billion cost increase it expects from new tariffs. This includes optimising the company’s sourcing mix and allocate production differently across regions.
Mould said that JD Sports ‘is a key retailer of Nike shoes’, so it would ‘theoretically’ benefit if Nike can ‘stimulate new demand for its products’.
On AIM, Likewise climbed 9.1%.
On 2025 so far, the floor coverings distibutor issued a trading update ahead of its AGM. Total gross sales revenue to June 26 has increased by 10%, Likewise said, and it ‘is now consistently achieving improved operational gearing each month resulting in higher levels of profitability’ through the ‘greater sales volumes’.
‘The group is well on course to achieve market forecasts for FY25,’ it added.
Earnz continued to lead AIM, surging 31%.
The energy services company’s 2024 revenue totalled £2.6 million, up from no revenue the prior year, although its pretax loss widened to £2.9 million.
Looking ahead, the company has ‘an active list of potential acquisition targets’ and ‘is looking at more significant opportunities for acquired growth which will enhance service offerings and provide a more stable base’, now that it has ‘established a profitable platform for growth’.
t42 IoT Tracking Solutions gained 15%.
The container tracking and monitoring solutions provider published its 2024 results. Revenue rose to $4.2 million but its loss widened to $1.7 million from $420,000.
Still, T42 said one of last year’s four major contracts ‘is already outperforming expectations’ and that Lokies and Tetis purchase orders have nearly doubled since the beginning of this year.
In European equities on Friday, the CAC 40 in Paris was up 1.3%, while the DAX 40 in Frankfurt was up 0.6%.
French producer price deflation slowed in May, data from Insee showed.
The price decline rate slowed to 0.8% from 3.9% in April. Over a year, prices continued to decrease, albeit at a slower annual rate of 0.7% compared to 1.3% in April.
The slowdown was more significant for products sold on the French market, where the fall in prices softened to 0.8% compared to 4.2% in April. The price decline for mining and quarrying products softened the most, to 3.4% from around 15% in April.
Economic sentiment deteriorated in the eurozone in June, survey data published by the European Commission showed.
The economic sentiment indicator fell to 94.0 points in June from 94.8 in May, underperforming against the FXStreet-cited consensus of an uptick to 95.1 points in June.
‘The decline in the ESI was primarily driven by reduced confidence in the industry sector, with retail trade contributing to the downturn to a lesser degree. Confidence in the services sector and among consumers remained broadly stable, while construction confidence continued to pick up,’ the EC said.
Meanwhile in Germany, the minimum wage is set to be raised from €12.82 per hour to €14.60 by 2027 in two steps, a special commission which regularly proposes adjustments to the level announced on Friday.
At the beginning of 2026, the legal base salary paid to employees should first be increased to €13.90, before being raised by another €0.70 a year later, the body said in Berlin.
The pound was quoted lower at $1.3725 at midday on Friday in London, compared to $1.3733 at the equities close on Thursday. The euro stood at $1.1703, slightly higher against $1.1698. Against the yen, the dollar was trading higher at JP¥144.63 compared to JP¥144.48.
Stocks in New York were called higher. The Dow Jones Industrial Average was called up 0.2%, the S&P 500 index up 0.2%, and the Nasdaq Composite up 0.3%.
The yield on the US 10-year Treasury was quoted at 4.27%, narrowing from 4.28%. The yield on the US 30-year Treasury was quoted at 4.83%, narrowing from 4.84%.
Mould commented: ‘The US stock market has lagged many other parts of the world so far in 2025 but there are tentative signs it is now playing catch-up...A stronger risk appetite suggests investors are fishing for opportunities in the US again, despite signs earlier this year of a market rotation away from America in favour of allocating more money to Europe and emerging markets.
‘Admittedly, a month is too short a period to make a call on a definite trend, but it’s an area to watch closely.’
In geopolitical news, the possibility of new negotiations with the US on Iran’s nuclear programme has been ‘complicated’ by the American attack on three of the sites, a top diplomat has said.
Iranian Foreign Minister Abbas Araghchi told state television that the attacks had caused ‘serious damage’.
Araghchi left open the possibility that his country would again enter talks on its nuclear programme, but suggested it would not be any time soon.
Brent oil was quoted lower at $67.13 a barrel at midday in London on Friday from $67.83 late Thursday.
Gold was quoted at $3,287.23 an ounce, lower against $3,322.21.
Still to come on Friday’s economic calendar, the US has personal consumption expenditure data, which is the Federal Reserve’s key inflationary gauge, and Canada has a GDP read.
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