(Alliance News) – Stocks in London are expected to open slightly lower on Friday, as markets take a breather after recent gains, as oil prices ease.
IG says futures indicate the FTSE 100 will open 2.9 points lower, at 10,381.72 on Friday. London’s broad-caps index closed up 1.6% at 10,378.82 on Thursday.
Brent crude for June delivery was trading at USD111.00 a barrel early Friday, down from USD114.38 late Thursday.
Most of the world’s stock markets are closed for the Labor Day holiday, including those in China, France, Germany, Ireland, Italy, South Africa, Spain and Switzerland.
In the US, Congress approved massive funding for the Department of Homeland Security, ending a record-breaking partial government shutdown that crippled key agencies for more than two months.
The House passed the measure, which had already cleared the Senate, and sent it to US President Donald Trump for his signature.
The bill funds major DHS operations through the end of the fiscal year on Sept. 30 but does not include additional funding for immigration and border enforcement, leaving the political dispute that caused the shutdown unresolved. The door has been partially closed since February 14, the longest period of all these funds at 75 days.
Sterling was quoted at USD1.3593 early Friday, higher than the USD1.3588 in London equities that closed on Thursday. Against the euro, sterling rose to EUR1.1593 from EUR1.1578 the previous day.
The euro traded at USD1.1725 early Friday, down from USD1.1731 late Thursday. Against the yen, the dollar was quoted at JPY157.23 versus JPY156.65.
President Trump also said he would remove the tax on Scottish whiskey in honor of the UK’s King Charles III and Queen Camilla as they end their state visit.
The move represents a landmark trade deal with Britain despite tensions related to the Iran conflict.
Scotch whiskey faced a 10% tariff during Trump’s second term, with a higher rate previously set under a trade deal set to expire later this year. Trump said he was “removing tariffs and restrictions”, noting that the decision was related to trade with Kentucky, a key producer of US bonds.
In the US on Thursday, Wall Street ended higher, with the Dow Jones Industrial Average up 1.6%, the S&P 500 up 1.0% and the Nasdaq Composite up 0.9%.
In after-hours trading, shares of Apple Inc rose 1.9% as the company reported a record first quarter, with double-digit growth in all regions, although the results drew muted reactions.
The Cupertino, California-based iPhone maker said revenue rose 19% to USD29.58 billion in the March quarter from USD24.78 billion a year earlier. Earnings per share rose to USD2.02 from USD1.65, with diluted EPS of USD2.01, before the USD1.95 LSEG deal.
Total sales jumped 17% to USD111.18 billion from USD95.36 billion, driven by a 22% increase in iPhones to USD56.99 billion.
“Today Apple is proud to report our best March quarter yet,” said CEO Tim Cook.
In Asia on Friday, the Nikkei 225 index in Tokyo rose 0.6%. The S&P/ASX 200 in Sydney rose 0.7%.
Meanwhile, the European Union’s landmark trade deal with the South American Mercosur bloc has temporarily entered into force, despite an ongoing court challenge to its legality.
The agreement, which was finalized in January after more than 25 years of intermittent negotiations, creates one of the largest free trade areas in the world.
It is expected to increase exports of European goods such as cars, wine and cheese, while reducing the access of South American agricultural products, including beef, poultry, sugar, rice, honey and soybeans, to European markets.
Gold was quoted at USD4,611.163 an ounce early Friday, down from USD4,616.72 on Thursday.
In Friday’s business calendar, MJ Gleeson issues a trading statement, NatWest Group reports first quarter results, while Pearson and Rotork also issue trading updates.
In the economic calendar on Friday, the National will release UK house price data.
Canada manufacturing PMI, Swiss retail sales, UK mortgage approvals, UK manufacturing PMI, and US manufacturing PMI and ISM manufacturing PMI are due.
By Eva Castanedo, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All rights reserved.
Goods Forex Market News
