Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com -- U.K.’s blue-chip share index reached a new record high at Friday’s market open, boosted by strong performances in mining and oil companies, while the pound strengthened against the U.S. dollar.
As of 1141 GMT, the FTSE 100 rose 0.06% and the British GBP/USD gained 0.2% against the dollar to above 1.35.
DAX index in Germany rose 0.1%, the CAC 40 in France also gained 0.6%.
Mining and oil stocks lift FTSE 100 in early trading
Mining stocks were among the top performers in early trading, with Glencore PLC (LON:GLEN) climbing as much as 3.2%, Rio Tinto PLC (LON:RIO) gaining 1.6%, and Anglo American PLC (LON:AAL) rising about 3.8%.
Oil stocks also contributed significantly to the benchmark index’s rise, with BP PLC (LON:BP) up 1.3% and Shell PLC (AS:SHEL) adding 0.7%, even as crude prices declined.
LME to implement market structure changes
The London Metal Exchange Index Index announced plans on Friday to introduce market structure changes aimed at boosting transparency and enhancing liquidity while maintaining features that serve its physical user base.
According to the timeline released, the LME will implement crossing rules on LME select in February 2026, followed by block trade thresholds by the end of the first quarter of 2026.
Kushner firm reportedly eyes OakNorth stake
In separate news, Jared Kushner’s private equity firm Affinity Partners is reportedly set to acquire an 8% stake in British digital lender OakNorth. The bank is targeting rapid expansion in the United States.
The deal, which is expected to be finalized in the coming weeks, involves Affinity Partners purchasing the shareholding from an unidentified existing investor, Sky News reported on Friday, citing industry sources.
Financial terms of the transaction were not disclosed.
AB Foods to buy Hovis Group
In corporate news, Associated British Foods PLC (LON:ABF) announced Friday it has agreed to acquire Hovis Group from Endless.
The deal will integrate the production and distribution operations of ABF’s UK bakery business, Allied Bakeries, with those of Hovis.
Financial terms of the transaction were not disclosed.
Thames Water taps final tranche of £1.5 bln rescue loan
Separately, Thames Water revealed Friday it has drawn down the remaining available funds from the first £1.5 billion ($2.03 billion) tranche of its debt lifeline.
This action ensures the water utility’s liquidity requirements are covered until at least mid-December, according to the company.