AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,599 Increased By 139.8 (0.55%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

London's main stock index overturned earlier loses to end higher on Friday as a US air strike in Iraq stoked fears of a disruption in crude supply, supporting shares of oil heavyweights, and as tobacco stocks firmed.

The FTSE 100 had been pressured for most of the session as rising geopolitical tensions after the air strike, that killed top Iranian and Iraqi commanders, drove investors away from risky assets and towards safe havens such as gold.

But Shell and BP jumped more than 2% each and the oil sector almost single-handedly helped the blue-chip bourse record a 0.2% gain and outperform the European benchmark.

BAT and Imperial Brands added 2.5% each to lend further support after the US health regulator exempted menthol and tobacco from a list of e-cigarette flavours that it has banned under new guidelines.

The more domestically focused FTSE 250 shed 0.5%, however, as weak UK construction data and the broader risk-off sentiment weighed.

"Chances that a further escalation of tensions (by Tehran) with Washington can be avoided appear to be low," Cityindex analyst Ken Odeluga said. "Risk assets therefore look unlikely to reclaim their solid advance out of the gates in 2020 anytime soon."

Prospects of higher fuel costs dragged shares of airline companies lower. easyJet and British Airways owner IAG gave up 1.7% and 3.4%, respectively.

Gambling stocks were knocked after a report that firms could be banned from running "VIP schemes" that reward gamblers who regularly lose large sums with free bets and offer cashback on losing wagers.

William Hill, Playtech and GVC fell between 0.7% and 4.7%.

Payment solutions firm Finablr slipped 4% after its unit, Travelex, said on Thursday it had taken all its systems offline after being hit by a software virus.

Galliford soared almost 78% on its best day ever, reflecting an adjustment to the share price following the completion of the demerger and sale of its housebuilding business to Bovis Homes.

Both UK benchmark indexes ended the holiday-shortened week modestly lower.

Profit-taking before the turn of the decade had eaten into the indexes' gains earlier this week and Odeluga warned Friday's events in the Middle East could cause sentiment to remain subdued. "Worries that forecasts of moderate stock market progress may be in jeopardy won't be easy to allay," he said.

Copyright Reuters, 2020

Comments

Comments are closed.