Bond.az – Britain’s FTSE 100 index opened 0.35% higher on Friday despite data showing retail sales fell the most in nearly a year in April.
The decline comes amid the Iran war and rising energy costs, dampening consumer spending.
The FTSE 250 outperformed, rising 0.65% after Softcat raised guidance on strong AI-driven demand.
The IT services firm reported double-digit gross profit and operating profit growth in its third-quarter trading statement.
Growth is broad-based, especially in corporate sector demand for AI-enabled infrastructure and rush orders to avoid global memory chip shortages.
Management now expects mid-teens growth in underlying operating profits, up from high single digit previously.
Markets hope for a resolution to the Iran war after US Secretary of State Marco Rubio noted positive signs in talks.
Rubio said any deal involving Iran imposing a toll system in the Strait of Hormuz would be unacceptable. Iran’s Supreme Leader ordered that near-weapons-grade uranium not be sent abroad.
