The FTSE 100 opened 14.12 points lower at 10,826.23 as tensions in the Middle East kept oil above USD 100 a barrel. Brent crude futures fell 0.65% to USD 105.2 per barrel. US West Texas Intermediate (WTI) declined 0.58% to USD 97.40 per barrel.
The sterling traded at USD 1.3292 on early Friday, up from USD 1.3154 during closing time on
Wednesday. It rose to EUR 1.1839 from EUR 1.1828 against the euro.
Gainers & Losers
On the upside, WPP rose 3.07% to 412.70p, while Babcock International Group advanced 2.22% to 949.00p. Melrose Industries gained 1.24% to 483.60p, and Glencore climbed 1.12% to 580.50p. Fresnillo increased 1.09% to 2,698.00p, while Computacenter added 1.07% to 5,215.00p.
On the downside, Games Workshop Group fell 1.29% to 16,870.00p, while AstraZeneca declined 1.45% to 12,514.00p. Antofagasta slipped 2.54% to 3,339.00p, and Rio Tinto dropped 1.12% to 6,700.00p. Anglo American decreased 1.13% to 4,014.00p, while Severn Trent lost 1.00% to 3,184.00p.
UK Chancellor to Raise Taxes on Banks
UK Chancellor John Healey is set to raise taxes on banks at his October 28 budget to fund cost-of-living support and shore up the public finances, Bloomberg reported.
The move would likely raise the 3% bank surcharge levied on top of corporation tax, which was 8% until 2023. Fully reversing the cut would raise about GBP 2 billion, the report said. The Guardian had reported the proposal earlier on Thursday.
Man Group’s AUM at Record Levels
Man Group stock rose 1.7% following the asset manager's Q3 2026 trading statement, disclosing that assets under management reached a record USD 270.9 billion as of 30 September 2026, up sharply from USD 253.6 billion at the end of June and USD 213.9 billion a year earlier.
The AUM print arrived against a backdrop of constructive analyst sentiment. Citi upgraded Man Group to Buy and lifted its price target to GBP 390 on 8 October, while Jefferies raised its own target to GBP 385 on 6 October.
Wise Upgrades its Revenue Forecast
Money transfer firm Wise increased its revenue forecast driven by a rise in customers. The firm said it expects net revenue growth to fall in the upper half of its medium-term target range of 17.5 to 20%.
Profitability remains around the top of its 20 to 25% range, it added. It follows revenue jumping 21% to USD 739.1 million, driven by a 22% increase in transaction revenue to USD 561.3 million. Cross-border volumes increased 22% to USD 71.7 billion in the second quarter of the year. Active customers grew 20% to 12.5 million.
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Global Market View
In the US, the S&P 500 futures rose 0.11%, while NASDAQ-100 futures gained 0.14%. Futures linked to the Dow Jones Industrial Average gained 81 points.
In Asia, Tokyo's Nikkei 225 gained 1.39% to 65,324.29, while China’s Shanghai Composite edged up by 0.24%. Hong Kong’s Hang Seng rose 0.39%, and South Korea’s Kospi rose 2.05%. In India, both the Nifty 50 and the Sensex advanced by 0.47% and 0.43%, respectively.