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London’s main stock index edged lower on Friday, even as fresh data showed U.K. retail sales continued to rise in August.

Figures from the Office for National Statistics revealed that sales volumes grew 0.5% last month, matching July’s upwardly revised pace and coming in just above expectations for a 0.4% gain. The data primarily covers goods and is not adjusted for inflation.

The release came as sterling weakened sharply, cementing its position as the worst performer among the G-10 currencies. At the same time, U.K. government bonds underperformed relative to their European peers.

By 11:40 GMT, the FTSE 100 was down 0.1%, while the pound lost 0.5% against the U.S. dollar, slipping to $1.34. Germany’s DAX index also fell, down 0.3%, while France’s CAC 40 inched 0.2% higher.

Spire Healthcare Surges on Strategic Review

Shares in Spire Healthcare Group plc (LSE:SPI) soared nearly 16% after the private hospital operator confirmed it is considering strategic options, including a potential sale. The rally pushed the stock to a one-year high and marked its strongest single-day advance since May 2021.

NatWest Reportedly Weighs Cushon Sale

Separately, reports from Sky News indicated that NatWest Group PLC (LSE:NWG) is exploring a sale of Cushon, its workplace pensions business. NatWest acquired a controlling stake in Cushon in 2023 for £144 million, making it one of the bank’s largest post-crisis transactions.

Mining Stocks Climb with Gold

London-listed miners rose as bullion prices gained. Gold futures edged up 0.2% to $3,686.30 per troy ounce, boosting sentiment in the sector.

Endeavour Mining Corp (LSE:EDV) led with a 2.8% rise, while Fresnillo PLC (LSE:FRES) added 1.2%. Anglo American PLC (LSE:AAL) and Antofagasta PLC (LSE:ANTO) each advanced 1.3%.

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.

Nvidia (NASDAQ:NVDA), the U.S. semiconductor giant, has signed a letter of intent to possibly invest $500 million in London-based autonomous driving company Wayve, the British firm revealed Thursday.

Wayve, which currently operates in the UK and U.S., has been expanding its autonomous vehicle testing and development into new markets, including Germany and Japan.

The prospective funding comes on the same day Nvidia announced £2 billion ($2.7 billion) in planned investments aimed at supporting the UK’s artificial intelligence startup ecosystem.

These moves follow a recent UK-U.S. technology agreement designed to strengthen collaboration in AI and other emerging tech sectors.

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.

Deutsche Bank Research has downgraded Wizz Air Holdings Plc (LSE:WIZZ) from “buy” to “hold,” lowering its price target to 1,400 pence from the previous 1,500 pence.

Analyst Jaime Rowbotham highlighted that the airline’s first-quarter results, released in July, showed revenue per available seat kilometer (RASK) remained flat compared to the same period last year.

“Despite lower last-minute fares during the summer peak, the outcome is expected to align broadly with prior projections,” Rowbotham noted.

On the cost side, Wizz Air had anticipated improvements in non-fuel costs per available seat kilometer in Q2, following a 14% increase in Q1. Deutsche Bank now expects a 1% year-on-year decline for the quarter, down from the previously forecast 2% rise. This adjustment accounts for lower disruption costs and the delayed timing of maintenance expenditures.

As a result, the bank raised its pre-tax and foreign exchange profit estimate for Q2 to €338 million from €296 million. However, a one-off tax charge is projected to offset these gains, reducing the after-tax profit forecast to €240 million from €252 million.

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-listed mining shares climbed in early European trading on Friday, buoyed by a modest rise in gold prices, with Gold Futures up 0.2% at $3,686.3 per troy ounce.

Miners with significant gold exposure led the advance:

• Anglo American PLC (LSE:AAL) rose 1.3%, reflecting broader sector strength despite its diversified portfolio, which includes copper, diamonds, platinum group metals, and iron ore.
• Antofagasta PLC (LSE:ANTO) also gained 1.3%, supported by positive sentiment across the mining industry even though it primarily focuses on copper production.
• Endeavour Mining Corp (LSE:EDV) jumped 2.8% in morning trading, benefiting strongly from the uptick in gold prices across West Africa.
• Fresnillo PLC (LSE:FRES) added 1.2%, extending its recent gains as both gold and silver continued their upward momentum.

The sector-wide rally highlights growing investor confidence in commodities, particularly precious metals, amid expectations around U.S. monetary policy and ongoing global economic uncertainties.

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 dipped slightly Friday following record-setting closes for Wall Street’s major indices in the previous session. Investors are also focused on a scheduled phone call between President Donald Trump and Chinese President Xi Jinping, with a potential deal over TikTok’s U.S. operations expected to dominate discussions. Meanwhile, FedEx exceeded analysts’ revenue and profit forecasts, while Lennar shares slipped after a sharp fall in quarterly earnings.

Futures Show Minor Retreat

By 02:55 ET, Dow futures had declined 40 points, or 0.1%, S&P 500 futures were down 4 points, and Nasdaq 100 futures were largely unchanged. On Thursday, the Dow Jones Industrial Average, the S&P 500, and the tech-heavy Nasdaq Composite all closed at record highs, as investors processed the Federal Reserve’s rate cut earlier this week.

“[B]ulls [are] celebrating the fact that both fiscal and monetary policy are now in stimulus mode while the AI mania continues,” analysts at Vital Knowledge said in a note.

Shares of Intel (NASDAQ:INTC) jumped more than 22% after Nvidia (NASDAQ:NVDA), the AI-focused chipmaker, revealed a $5 billion stake in the beleaguered semiconductor company. After the issuance of new shares, Nvidia will become one of Intel’s largest stakeholders.

Trump-Xi Call Draws Attention

Market participants are closely watching the expected Friday morning call between Trump and Xi, with a potential agreement to keep TikTok operating in the U.S. likely to be discussed.

U.S. officials told Reuters that the TikTok deal tops the agenda for the first known call between the two leaders in three months. The discussion could set the stage for a possible in-person summit in South Korea later this year, following months of tense trade negotiations since Trump returned to office in January.

For TikTok, owned by China’s ByteDance, an agreement on its U.S. operations would resolve ongoing uncertainty for the platform. While Congress has demanded that TikTok divest its U.S. business or face a shutdown, Trump has repeatedly extended the deadline, arguing it allows time to find a willing buyer. Trump has also noted that the app “helped get me elected” in 2024.

On Monday, U.S. and Chinese officials unveiled a framework deal, with the Wall Street Journal reporting that TikTok’s U.S. arm would be managed by a consortium including Oracle, Silver Lake, and Andreessen Horowitz. Significant questions remain regarding the ownership structure and China’s influence over the platform.

FedEx Beats Expectations

FedEx (NYSE:FDX) shares rose in after-hours trading after the company reported quarterly revenue and profit above analysts’ forecasts. Cost-cutting initiatives helped offset weaker international volumes following the end of a tariff exemption on certain low-value consumer shipments.

As part of a $1 billion cost reduction plan for the fiscal year, FedEx has closed facilities, restructured divisions, and parked aircraft. These measures, coupled with resilient consumer demand amid tariff-driven price pressures, boosted operating margins.

Executives noted that ending the “de minimis” exemption reduced first-quarter revenue by $150 million, but total revenue of $22.24 billion still exceeded estimates of $21.66 billion. Adjusted profit of $912 million also surpassed expectations.

Lennar Earnings Disappoint

Shares of Lennar (NYSE:LEN) declined slightly in after-hours trading after the homebuilder posted a 46% drop in fiscal third-quarter profit. U.S. housing demand has been pressured by inflation concerns, and it is unclear if the Fed’s renewed policy easing will reduce mortgage costs in the near term.

Lennar has introduced incentives, including cost adjustments and mortgage rate buydowns, to stimulate demand, but these measures have reduced profit margins. Fourth-quarter home deliveries are expected to range from 22,000 to 23,000 units, below the 25,000 estimated, according to LSEG data cited by Reuters.

Bank of Japan Holds Rates

The Bank of Japan kept interest rates at 0.5% as expected Friday, amid political uncertainty and concerns over the impact of U.S. tariffs. Policymakers also outlined plans to sell portions of their extensive holdings in equities, ETFs, and REITs, following last year’s historic halt to purchases—a move that triggered declines in Japanese equities.

The rate decision passed with a 7-2 vote in the BOJ board, with two members—Takata Hajime and Tamura Naoki—calling for a 25-basis point hike despite steady inflation. The BOJ last raised rates in January.

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 edged higher on Friday, wrapping up the week on a positive note following the U.S. Federal Reserve’s decision to lower interest rates.

At 07:02 GMT, Germany’s DAX added 0.2%, France’s CAC 40 rose 0.2%, while the U.K.’s FTSE 100 slipped 0.1%.

Fed Rate Cut Fuels Positive Sentiment

The U.S. central bank’s first rate reduction of the year lifted global market sentiment, even though the move was largely anticipated, and Chair Jerome Powell signaled a cautious approach regarding future cuts.

Supporting market optimism was last week’s upbeat guidance from the European Central Bank, which raised its 2025 GDP forecast to 1.2% from 0.9% last year, citing what ECB President Christine Lagarde described as “resilience in domestic demand.”

The Bank of Spain also raised its 2025 growth projection to 2.6%, while Germany, Europe’s largest economy, is set to see a substantial GDP boost from planned public infrastructure and defense spending combined with tax reductions.

Although French political uncertainty persists, the eurozone appears to have weathered the inflation surge linked to Covid, the Russian invasion of Ukraine, and the Trump administration’s unpredictable tariff policies.

U.S. President Donald Trump’s state visit to the U.K. coincided with a series of American corporate investment announcements totaling roughly £150 billion ($204 billion). Meanwhile, British retail sales exceeded expectations, rising 0.5% in August, aided by sunny weather.

BoJ Holds Rates Steady

Friday also saw the Bank of Japan maintain its benchmark rate at 0.5%, in line with expectations, amid political uncertainty and concerns about the impact of U.S. trade tariffs. The decision was approved by a 7-2 majority on the rate-setting board, with two members advocating a 25 basis-point hike despite stable inflation. The BOJ last raised rates in January.

IG Group Expands into Cryptocurrency

On the corporate front, British online trading platform IG Group (LSE:IGG) revealed its acquisition of Australian cryptocurrency exchange Independent Reserve, broadening its digital offerings and Asia-Pacific presence. IG stated that the transaction is expected to be accretive to cash earnings per share in the first full financial year following the deal’s completion.

Oil Prices Slip but Set for Weekly Gains

Crude prices edged lower on Friday but remained on track for weekly gains following the Fed’s rate cut, despite concerns about slower U.S. demand. At 03:02 ET, Brent futures fell 0.2% to $67.30 a barrel, while U.S. West Texas Intermediate crude declined 0.3% to $63.36 a barrel. Both benchmarks are positioned to finish higher for a second consecutive week, as lower borrowing costs generally support oil demand. However, optimism has been tempered by fears of weakening U.S. consumption, highlighted by a sharp rise in distillate inventories.

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.

The U.S. dollar gained on Friday, buoyed by encouraging employment data, while the Japanese yen firmed following a relatively hawkish Bank of Japan meeting.

By 04:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against six major currencies, rose 0.2% to 97.175, recovering from its earlier decline to a February 2022 low.

Dollar Supported by Weekly Jobless Claims

The dollar strengthened after data showed a drop in new U.S. unemployment claims last week, reversing the previous week’s spike. Initial claims fell by 33,000 to a seasonally adjusted 231,000 for the week ending September 13, following a jump to 264,000 in the prior week—a level last seen in October 2021.

“This was rare positive news on the jobs market, and one that justifies the dollar’s staying bid for now,” said analysts at ING in a note.

The data helped the dollar recover after the Federal Reserve cut rates on Wednesday for the first time this year and signaled the possibility of two additional cuts in 2025.

“That said, we still think the dollar is trading too much on the strong side after the Fed meeting and expect some pullback in the coming days. Cheaper funding costs should contribute to fuel hedging demand for the USD and prevent larger appreciative trends,” ING added.

Market participants are also monitoring political developments, with the U.S. Supreme Court scheduling November 5 for hearings on the legality of Trump’s global tariffs. Trump has repeatedly criticized the Fed for not cutting rates more aggressively, raising questions about the central bank’s independence. On Thursday, his administration asked the Supreme Court to allow the president to dismiss Federal Reserve Governor Lisa Cook—an unprecedented move.

Sterling and Euro React to Local Events

In Europe, GBP/USD fell 0.5% to 1.3490 after Britain’s borrowing surged past forecasts underlying government fiscal plans. The previous day, the Bank of England held interest rates steady and slowed its government bond reduction program.

EUR/USD slipped 0.1% to 1.1773 amid political unrest in France, where hundreds of thousands protested austerity measures, urging Prime Minister Sebastien Lecornu to halt planned budget cuts.

“Their latest political news isn’t very encouraging, as the new prime minister is facing harsh union opposition to his fiscal plans, and negotiations with the Socialists – who are believed to hold the key to passing the budget – have not yielded good results so far,” ING said.

Yen Strengthens After BoJ Policy Meeting

USD/JPY declined 0.1% to 147.88, with the yen benefiting after the Bank of Japan kept rates at 0.5% as expected. Two of the nine board members, however, advocated a 25 basis-point hike. The central bank also announced plans to sell its large holdings of ETFs and REITs, a hawkish signal as the BOJ begins trimming its balance sheet after nearly a decade of ultra-loose monetary policy.

Other currencies were relatively stable. USD/CNY traded around 7.1122, with the yuan near a 10-month low. Beijing plans additional stimulus to support private consumption following weak August economic data. AUD/USD edged down 0.1% to 0.6606 after recent 10-month highs, while NZD/USD fell 0.2% to 0.5874, continuing a decline after its sharpest one-day drop since April amid weak Q2 GDP figures.

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 prices in Asian trading on Friday inched higher, keeping momentum for a fifth consecutive weekly gain after the U.S. Federal Reserve cut interest rates earlier this week, a move widely anticipated by markets.

Spot gold rose 0.2% to $3,650.14 an ounce by 02:25 ET (06:25 GMT), having touched an all-time high of $3,707.40 on Wednesday. U.S. December Gold Futures also added 0.2% to $3,683.70. The metal had slipped 1.3% over the previous two sessions as the dollar strengthened from three-year lows following Fed Chair Jerome Powell’s cautious comments on future easing.

At its Federal Open Market Committee meeting on Wednesday, the Fed lowered its benchmark rate to 4.00%-4.25%, marking its first cut since December. The updated “dot plot” signaled expectations for two additional cuts by year-end, with only one projected in 2026. Stephen Miran dissented, advocating a larger 50-basis-point reduction.

Gold had been climbing in anticipation of monetary easing and rising concerns about the Fed’s future independence, although aggressive cuts were seen as unlikely amid signs of labor market softness and rising unemployment risk. In his post-meeting remarks, Powell described the rate cut as a “risk-management” step in response to a cooling labor market and stressed that policy decisions would be made on a meeting-by-meeting basis due to uncertainty over inflation and economic growth.

Following the Fed decision, gold dipped slightly as the U.S. dollar firmed, with the Dollar Index up 0.1% after sharp gains in the previous two sessions.

Elsewhere, the Bank of Japan maintained its interest rate at 0.5% on Friday, citing political uncertainty and U.S. tariff challenges.

Other metals traded higher: Silver Futures gained 0.7% to $42.415 per ounce, Platinum Futures remained largely unchanged at $1,396.60 per ounce, London Metal Exchange Copper Futures rose 0.3% to $9,983.50 a ton, and U.S. Copper Futures added 0.2% to $4.61 a pound.

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 declined on Friday as concerns over fuel demand in the United States outweighed optimism from the Federal Reserve’s first interest rate cut of the year, which was expected to stimulate consumption.

By 0656 GMT, Brent crude futures were down 17 cents, or 0.3%, at $67.27 a barrel, while U.S. West Texas Intermediate (WTI) futures fell 19 cents, also 0.3%, to $63.38. Despite the drop, both benchmarks were poised to finish higher for the second consecutive week.

The Fed cut its policy rate by 25 basis points on Wednesday and signaled that further reductions could follow in response to signs of softness in the labor market. Lower borrowing costs typically encourage higher oil demand, which can push prices up.

“The market has been caught between conflicting signals,” said Priyanka Sachdeva, an analyst at Phillip Nova.

She noted that on the demand side, warnings from all major energy agencies, including the Energy Information Administration, about weakening consumption have tempered expectations for near-term price gains.

“On the supply side, planned production increases from OPEC+ and signs of oversupply in U.S. fuel-product inventories are weighing on sentiment.”

U.S. distillate stockpiles rose by 4 million barrels, far exceeding the 1 million barrels expected, intensifying worries about demand in the world’s largest oil consumer and putting further pressure on prices.

Economic data added to the bearish sentiment. Jobless claims this week indicated a softer labor market, with reductions in both demand for and supply of workers, while single-family homebuilding fell to a near 2-1/2-year low in August amid a surplus of unsold homes.

In Russia, the world’s second-largest crude producer in 2024 after the United States, the finance ministry introduced a measure to shield the state budget from oil price swings and Western sanctions, easing some supply concerns.

“President Trump’s comment that he preferred low prices over sanctions on Russia also eased concerns over supply disruptions,” ANZ analyst Daniel Hynes said in a note on Friday.

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.

GEO Exploration Limited (LSE:GEO) has successfully completed its first drill hole, JUD001, at the Juno Project in Western Australia, reaching a depth of 810 meters and intersecting all targeted rock sequences. Drilling operations have now moved to a second location to begin JUD002, with assay results from the first hole expected by the end of 2025. As one of the first modern explorations in this underexplored region, the Juno Project offers GEO the potential for a district-scale discovery. This milestone represents a critical step in the company’s systematic exploration strategy, aimed at delivering long-term shareholder value.

About GEO Exploration

GEO Exploration Limited is a mineral exploration company focused on identifying and developing mineral resources. Its operations prioritize greenfield sites in underexplored regions with the potential for significant, district-scale discoveries.

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.