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The euro and the yen strengthened slightly against the U.S. dollar on Friday but remained on track for sharp weekly declines as political turbulence in France and shifting monetary policy expectations in Japan kept traders on edge.

By 05:27 ET (09:27 GMT), the euro was trading at $1.1571 against the greenback, posting only a modest rise. Even so, the single currency is still set for its biggest weekly slide in nearly a year.

In France, President Emmanuel Macron faces a self-imposed deadline today to name his sixth Prime Minister in under two years, following the collapse of the government led by short-lived premier Sébastien Lecornu.

François Villeroy de Galhau, Governor of Banque de France, warned that the current political turmoil could shave at least 0.2 percentage points off the country’s growth and further undermine business and consumer confidence. “Markets will be keeping close tabs on the situation,” he told a French radio station.

Yen trims losses on stronger inflation data and intervention talk

The yen edged higher as well, with USD/JPY falling about 0.3% from its eight-month peak. Fresh producer price data for September came in stronger than expected, hinting at an acceleration in broader inflation.

The Bank of Japan has reiterated its stance that any rate increases will depend on price growth, but the government is widely expected to push back on tightening. Expectations for resistance grew after fiscal dove Sanae Takaichi emerged as the frontrunner to become the next Prime Minister.

Her election as leader of the ruling Liberal Democratic Party (Japan) sparked a sharp selloff in the yen earlier this week, as markets priced in the likelihood of more fiscal stimulus and loose monetary policy. The yen is still down nearly 4% for the week, its steepest drop since October 2024.

That weakness has fueled speculation about possible intervention to stabilize the currency. Finance Minister Katsunobu Katō added to market chatter, saying the government was concerned about “one-sided, rapid moves” in currency markets.

Dollar heads for best week in a year

The greenback remains well-supported, helped by pressure on the euro and yen and renewed debate over how far Federal Reserve System will go in cutting rates. The U.S. Dollar Index slipped 0.2% to 99.34 but hovered near two-month highs.

“Markets are quite clearly rethinking popular short-USD trades, but further gains may prove harder to sustain unless markets start to price out Fed easing,” analysts at ING Group said in a note.

“The dollar can consolidate some gains today, but remains at risk of corrections in our view, and another rally would start to bring the greenback dangerously far from what short-term rate differentials justify.”

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures pointed to modest gains early Friday as traders looked ahead to fresh data on consumer sentiment from University of Michigan, with official economic releases still on hold due to the ongoing federal government shutdown. Meanwhile, shares of Applied Digital Corporation (NASDAQ:APLD) surged in after-hours trading following better-than-expected revenue results, while Levi Strauss & Co. (NYSE:LEVI) slipped after earnings failed to fully meet investors’ high expectations. Gold also fell below $4,000 per ounce as the ceasefire between Israel and Hamas reduced its safe-haven appeal.

U.S. Futures Inch Up

By 02:42 ET, Dow Jones Industrial Average futures were up 68 points (0.2%), S&P 500 futures rose 11 points (0.2%), and Nasdaq 100 futures added 54 points (0.2%).

Wall Street finished lower on Thursday as investors balanced the continued U.S. government shutdown with ongoing optimism around artificial intelligence. Market participants have started to raise concerns about the increasingly circular nature of AI-related deals, but analysts say many investors remain eager to stay in the rally.

Shares of PepsiCo, Inc. (NASDAQ:PEP) and Delta Air Lines (NYSE:DAL) gained after strong quarterly results, setting the tone ahead of the broader earnings season.

Michigan Consumer Sentiment Survey in Focus

The shutdown has left the economic calendar sparse, delaying major releases such as inflation and labor market data. If Congress does not reach a deal soon, more key indicators, including inflation numbers scheduled for next week, could be delayed.

The Federal Reserve System cut rates by 25 basis points last month and signaled the possibility of further easing this year, but without fresh economic data, the timing and scope of future decisions are uncertain. Policymakers are turning to alternative indicators, including the University of Michigan’s consumer sentiment and inflation expectations survey, due Friday.

Applied Digital Soars on Strong Results

Shares of Applied Digital surged after the data center operator posted an 84% jump in fiscal first-quarter revenue to $64.2 million, well above the $50 million expected, according to LSEG data. The company also reported a smaller-than-expected per-share loss of $0.03.

Rising demand for computing power to support AI development has fueled rapid growth in the data center sector. In August, Applied Digital secured a new lease agreement with CoreWeave, and analysts anticipate additional deals later this year.

Levi Strauss Raises Guidance But Shares Drop

Levi Strauss reported third-quarter earnings of $0.34 per share, ahead of expectations of $0.30. Revenue came in at $1.54 billion, up from $1.50 billion a year earlier, also beating forecasts. The company raised its full-year adjusted earnings forecast to $1.27–$1.32 per share, compared with its prior range of $1.25–$1.30.

Levi also increased its net revenue growth outlook to around 3% and organic growth to about 6%. Despite the strong performance, shares fell more than 6% in after-hours trading. Analysts at Vital Knowledge noted that while the company “continues to execute very well in a tough macro environment,” expectations were “fairly high” going into the results, “which might explain some of the knee-jerk disappointment.”

Gold Falls Below $4,000/oz as Safe-Haven Demand Eases

Gold prices declined after the ceasefire between Israel and Hamas, brokered by U.S. President Donald Trump, reduced geopolitical risk and encouraged profit-taking. The deal was approved by Israel’s government on Friday and is expected to help end the two-year war in Gaza, weighing on gold’s safe-haven appeal.

Spot gold fell 0.3% to $3,965.93 per ounce by 03:44 ET, while December futures rose 0.2% to $3,978.52/oz. Earlier this week, prices crossed the $4,000 mark for the first time ever. A stronger dollar, supported by currency movements in the yen and euro and uncertainty over interest rates, also added pressure on precious metals.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold and other precious metals pulled back on Friday as easing geopolitical tensions following the Israel-Hamas ceasefire encouraged investors to lock in profits.

Bullion recorded sharp overnight losses and remained under pressure in Asian trading, with a stronger U.S. dollar adding further weight. Gains in the greenback were supported by lingering uncertainty over the future of U.S. interest rates, as well as declines in the Japanese yen and the euro.

Spot gold slipped 0.2% to $3,970.88 per ounce, while December gold futures edged up 0.3% to $3,985.20/oz by 01:13 ET (05:13 GMT). Earlier this week, spot prices broke above the $4,000/oz mark for the first time, reaching a record high of $4,059.32/oz.

Gold’s rally stalled soon after the signing of a U.S.-brokered ceasefire between Israel and Hamas. The agreement marks the first phase of a 20-point peace plan proposed by U.S. President Donald Trump and is viewed as one of the most comprehensive diplomatic efforts in the Middle East in recent years.

But easing geopolitical tensions are expected to sap some safe-haven demand for gold. Other precious metals also declined on the back of the ceasefire, after tracking gold’s surge earlier in the week. Spot platinum dropped from near a 13-year high to trade at $1,603.92/oz on Friday, while spot silver stabilized at $49.6655/oz after briefly surpassing $51/oz and setting a record high on Thursday.

Despite Friday’s pullback, gold remains up 2.3% for the week, marking its eighth consecutive week of gains. Silver has climbed 3.5%, while platinum is flat.

ANZ analysts noted that recent declines were primarily driven by profit-taking after a “meteoric rise” in recent weeks. However, they expect any softness in prices to be “short-lived and shallower,” citing multiple factors that could continue to support gold.

“We see structural drivers for gold still in place to support higher prices. The Federal Reserve is expected to remain on its easing path amid increasing downside risks to employment,” ANZ analysts wrote in a note.

They also emphasized that ongoing political uncertainty in the U.S. could help sustain gold demand, particularly as a prolonged government shutdown keeps investors cautious.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices extended their losses on Friday, slipping further after a 1.6% drop in the previous session as geopolitical risk premiums receded following an agreement between Israel and Hamas on the first stage of a plan to end the conflict in Gaza.

By 06:36 GMT, Brent Crude futures were down 24 cents, or 0.4%, at $64.98 a barrel, while West Texas Intermediate (WTI) futures declined 20 cents, or 0.3%, to $61.31.

Israel and Hamas signed a ceasefire agreement on Thursday in the first step of U.S. President Donald Trump’s initiative to end the war. Under the deal, which was ratified by the Israeli government on Friday, hostilities will end, Israel will partially withdraw from Gaza, and Hamas will release all remaining hostages in exchange for the release of hundreds of prisoners held by Israel.

Despite the day’s decline, both crude benchmarks were up around 0.7% on the week after a steep fall last week. Prices had briefly risen about 1% on Wednesday to a one-week high, supported by stalled progress on a Ukraine peace deal, which raised the prospect of continued sanctions on Russia — the world’s second-largest oil exporter.

“The Gaza ceasefire deal was a major step towards ending the two-year war that has raised the risk of oil supply disruptions,” Daniel Hynes, an analyst at ANZ, said in a note on Friday.

“This (deal) saw the focus move back to the impending oil surplus, as OPEC proceeds with the unwinding of production cuts,” Hynes said.

A smaller-than-expected November production increase agreed by OPEC and its allies (OPEC+) on Sunday helped ease oversupply fears.

“Markets’ expectations for a sharp ramp up in crude supply have not manifested themselves in substantially lower prices,” analysts at BMI Research wrote in a note on Friday. “The most recent rise in production is lower than previously feared contributing to a slight rise in prices for the week,” they said.

Investors are also monitoring the risk of a prolonged U.S. government shutdown, which could weaken economic activity and weigh on oil demand in the world’s largest crude consumer.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

BP PLC (LSE:BP.) has secured a favorable arbitration ruling in its dispute with Venture Global LNG concerning the U.S. supplier’s failure to fulfill liquefied natural gas (LNG) delivery obligations under a long-term supply agreement.

The case revolved around Venture Global’s contractual commitment to supply LNG to BP. Although details of the arbitration award have not been disclosed, Venture Global confirmed that the panel’s decision sided with BP.

The outcome marks a significant moment in the commercial relationship between the two energy companies and could shape the structure of their LNG supply arrangements in the future.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities were little changed at Friday’s open, with gains in automotive and banking stocks balancing out declines in the healthcare sector. Investor attention remained on the political situation in France, where President Emmanuel Macron is expected to name a new prime minister soon.

By 07:12 GMT, the STOXX 600 index was steady at 571.2 points, on track for a third consecutive weekly gain.

The autos sector rose 0.9%, helped by a 1.5% jump in Milan-listed Stellantis N.V. (BIT:STLAM) shares after the company reported a 13% year-on-year increase in global vehicle shipments for the third quarter. Eurozone banks were also higher, up 0.5%, with BNP Paribas (EU:BNP) and Commerzbank AG (TG:CBK) both gaining close to 1%.

On the downside, healthcare stocks fell 0.5%. UK-based AstraZeneca PLC (LSE:AZN) and Danish drugmaker Novo Nordisk A/S (NYSE:NVO) were each down about 1%.

Political developments in France also drew market interest as Macron convenes meetings with mainstream political parties ahead of the deadline to name a new prime minister. French blue-chip stocks gained 0.3%.

Meanwhile, Germany’s Energiekontor AG (TG:EKT) dropped 13.3% after the wind and solar developer cut its earnings guidance for 2025.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

London stocks started Friday’s session in negative territory as the British pound continued to slide against the U.S. dollar, dropping further below the $1.33 mark. This came in contrast to a more upbeat tone across other major European markets.

By 07:39 GMT, the FTSE 100 was down 0.1%, while the pound slipped 0.08% to $1.32. Elsewhere in Europe, Germany’s DAX gained 0.1% and France’s CAC 40 advanced 0.3%.

Hays Sees 8% Decline in Net Fees as Hiring Slowdown Continues

Hays plc (LSE:HAS) reported an 8% year-on-year fall in net fees for the quarter ended 30 September, reflecting persistent weakness in both permanent and temporary hiring markets. On a like-for-like basis, net fees also declined by 8%, unchanged from the previous quarter.

Temporary and contracting net fees were down 5%, while permanent net fees fell by a sharper 14%, largely due to a 13% drop in placement volumes.

AstraZeneca to Invest $4.5 Billion in New U.S. Manufacturing Facility

AstraZeneca PLC (LSE:AZN) has broken ground on a new $4.5 billion manufacturing facility in Virginia, marking a major expansion of its U.S. operations. The plant is expected to significantly boost the company’s production capacity in the region.

BP Wins Arbitration Case Against Venture Global

BP PLC (LSE:BP.) has won its arbitration case against Venture Global LNG over the U.S. supplier’s failure to deliver liquefied natural gas under a long-term contract. The ruling centers on Venture Global’s contractual obligations to supply LNG to BP, marking a significant legal victory for the energy major.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Hays plc (LSE:HAS) has released its First Quarter Trading Statement for the period ending 30 September 2025, which is now publicly accessible. This update provides investors and stakeholders with a detailed view of the company’s financial performance and strategic positioning within the global recruitment industry, potentially influencing market sentiment and investment decisions.

The company’s outlook continues to be shaped by ongoing financial and operational pressures. Hays faces profitability and revenue growth challenges, which are reflected in its overall performance score. Technical indicators also suggest a bearish trend, adding further pressure. While valuation concerns remain due to a negative P/E ratio, these are partly offset by the company’s strong dividend yield.

About Hays plc

Hays plc is a leading global professional recruitment group, specializing in the placement of qualified, skilled, and professional candidates across a broad range of industries and professions. The company operates in both temporary and permanent recruitment markets, leveraging its international presence to connect talent with opportunities worldwide.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Ibstock Plc (LSE:IBST) has reported weaker-than-expected demand across its core construction markets in the third quarter of 2025, which affected revenues from both its clay and concrete product divisions.

Despite this slowdown, the company has maintained its market share and delivered improved productivity and operational efficiency. Ibstock is prioritizing cash management and investing in strategic growth initiatives, including the development of new products and facilities, to strengthen its position ahead of an anticipated market recovery. While near-term trading conditions remain challenging, management expects recent investments to yield benefits as demand gradually improves.

The company’s outlook reflects a moderate financial performance supported by a stable balance sheet, though growth in revenue and cash flow remains under pressure. Technical indicators show limited momentum, and a high P/E ratio suggests potential overvaluation.

About Ibstock Plc

Ibstock Plc is a leading UK-based manufacturer of building products and solutions. The company’s core offering includes clay and concrete materials, serving primarily the new-build residential construction sector. It continues to invest in innovation and operational improvements to position itself for long-term growth in the construction market.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

KEFI Gold and Copper plc (LSE:KEFI) has announced the issuance of 18,750,000 new ordinary shares following the exercise of broker warrants by Tavira Financial Ltd at a price of 0.60 pence per share. As a result of this transaction, the company’s total issued share capital will increase to 9,489,405,494 ordinary shares. This change will affect shareholder calculations under the FCA’s Disclosure Guidance and Transparency Rules.

About KEFI Gold and Copper plc

KEFI Gold and Copper is a mineral exploration and development company focused on gold and copper assets. Its flagship asset is the Tulu Kapi gold project in Ethiopia, which is expected to generate cash flow to support capital repayments, fund additional exploration, and deliver dividends to shareholders. The company also holds exploration interests in the Arabian-Nubian Shield, further expanding its growth potential in key mining regions.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.