Investing.com — British stocks closed slightly lower on Friday, despite an earlier global rally sparked by blockbuster earnings and a broad Wall Street and Asian rebound in technology shares.
The fell 0.2%, easing off its record high. It was set for its fourth straight month of gains – its best showing since February.
Amazon shares have jumped more than 14% on Friday after the company reported strong second-quarter results. has declined more than 9% after warning of worsening supply constraints and guiding third-quarter revenue growth to 9%-11%, below market expectations.
The rally carried into Asia, where Japan’s and South Korea’s surged 3.9% and 17.9%, respectively, to close higher as chipmakers and rebounded sharply after heavy losses earlier in the week.
That risk-on tone was tempered somewhat by fresh geopolitical risk after Iranian forces struck the Ahmad al-Jaber air base in Kuwait “several hours” before dawn Friday, Iran’s Press TV reported, citing state media; Kuwaiti authorities had not confirmed the report as European markets opened.
Separately, Hamas has for the first time agreed to a roadmap to surrender its weapons and give up any governing role in Gaza, U.S. officials said, with U.S. President Donald Trump confirming a phased Israeli withdrawal on Truth Social.
Israel said it destroyed tunnels in southern Lebanon with roughly 700 tons of explosives, alleging a Hezbollah ceasefire breach.
UK annual house price growth slowed in July even as prices posted their first monthly increase in three months, Nationwide said. The data pointed to a softer housing market as economic uncertainty continued to weigh on momentum.
gained 0.6% to $87.37 a barrel and rose 0.8% to $84.22, following Thursday’s 1.9% slide that took Brent below $90, as early signs of recovering Persian Gulf supply, estimated at 65% of pre-war flows, offset still-elevated US-Iran tensions.
slipped 1.5% to $4,038.30 an ounce, with down 1.5% at $4,044.
UK round up
cut its 2026 UK home completions forecast after slower buyer conversions and affordability pressures weighed on demand. The homebuilder said customers remained price sensitive as geopolitical uncertainty lengthened purchasing decisions.
British Airways parent dropped 5% following a sharp fall in second-quarter operating profit.
Sainsbury’s agreed to sell Argos to Swift Partners for at least 120 million pounds as it sharpened its focus on its core grocery business. The disposal advances the retailer’s strategy of simplifying operations and concentrating on food retailing.
launched a formal sale process for its North Sea business as CEO Meg O’Neill accelerated plans to streamline the portfolio and reduce debt. The divestment forms part of the oil major’s target to deliver $20 billion of asset sales by 2027.
reported first-half profit above forecasts and raised its full-year profitability outlook on higher income and disciplined cost control. The lender also brought forward potential share buybacks, saying it could begin them after its 2026 full-year results.
agreed to sell its BG Cyprus unit to MOL Group for up to $720 million as it continued to reshape its portfolio around LNG. The sale transfers its stake in the Aphrodite gas field while supporting the company’s capital allocation strategy.
(Pranav K contributed reporting)