LONDON: London shares remained nearly flat on Friday as investors adopted a wait-and-see approach ahead of crucial US jobs data.
As of 09:50 GMT, the blue-chip FTSE 100 was up 0.05 per cent, poised for its fourth consecutive weekly gain.
The domestically focused FTSE 250 was up 0.03 per cent on the day, heading towards its second straight weekly advance.
The upcoming US non-farm payrolls report will likely set the market tone, offering insights into how US President Donald Trump's trade policies are affecting the labour market and how the Federal Reserve might navigate the uncertain trade environment.
British government bond yields eased across the curve, mirroring eurozone counterparts ahead of the data release.
Earlier this week, Trump doubled tariffs on steel and aluminium imports, though the UK received an exemption following a limited trade deal signed in early May that established a framework for future negotiations.
Global attention also remained fixed on trade negotiations, with potential easing in US-China trade tensions following Trump's phone call with Chinese President Xi Jinping on Thursday.
On the stock indexes, homebuilders were leading the way with a gain of 0.9 per cent.
Life insurers were up 0.5 per cent after Deutsche Bank upgraded Phoenix and Prudential to "buy", with both stocks climbing nearly 1 per cent.
On the flip side, industrial metal miners dropped 1.1 per cent.
The heavy-weight aerospace and defence index shed 0.8 per cent with Babcock International Group sliding 3.4 per cent, making it the biggest decliner on the blue-chip index.
In other major developments, Finance Minister Rachel Reeves said on Thursday that upbeat business surveys and strong first-quarter GDP indicate the British economy is recovering from its weak end to 2024, though the public remains concerned about slow improvements in living standards.
Purchasing managers' indexes released this week have shown a recovery in activity after a sharp fall in April due to the shock of Trump's tariffs. — Reuters
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