The FTSE 100 index ended a lacklustre week in positive territory, rising 21.59 points to 9732.46, driven by gains from heavyweight stocks such as AstraZeneca and Rolls-Royce. The engine maker's shares advanced 14.5p to 1105.5p after Bank of America raised its price target to 1615p from 1440p. Miners Anglo American and Antofagasta also provided support, while Halma shares hit a record high following a £230 million acquisition of London-based E2S, a specialist in high-performance notification and detection devices.
In contrast, BP shares fell 2% to 456.1p and Shell dropped 32p to 2767.5p. The overall mood was cautious ahead of next week's potential US interest rate cut, with the release of the core personal consumption expenditure price index adding to jitters. Annual house price growth slowed to its weakest level since March 2024, according to Halifax, with London prices down 1%.
In the FTSE 250 index, Ocado rallied 6% to 194.75p after announcing it will receive $350 million (£262 million) in compensation from US retail partner Kroger. The payment follows Kroger's decision to shut three warehouses and scrap plans for a site in Charlotte, North Carolina. Ocado will continue to operate five sites for Kroger, but the move will reduce fee revenues by about $50 million (£38 million) this year.
Shares in Big Yellow Group dropped 6% to 1012p after the self-storage company ended takeover talks with Blackstone. Big Yellow said there was “no basis for continuing discussions” after evaluating a possible offer. Blackstone had announced on 13 October it was considering a potential offer for the company, which has a market value of £2.1 billion.
