The FTSE 100 traded in a range on Friday after negotiations between Russia and Ukraine appeared to fall apart, and further Russian attacks close to NATO borders hit sentiment.
The FTSE 100 was trading down around 0.5% shortly after midday on Friday after what had otherwise been a strong week for London’s leading index.
The price of Brent Crude increased to $107 per barrel as negotiations between Russia and Ukraine showed signs of falling apart, ramping up scarcity fears and sending the commodity beyond $100 once again.
FTSE 100 risers
The top risers included Polymetal, up 1.4% to 142.4p, after the announcement of four new non-executive directors to its board.
“Polymetal jumped 6.4% after filling the big gaps in its board of directors after the mass resignations on 7 March,” said AJ Bell investment director Russ Mould.
“The share price continues to be highly volatile with a clear risk that the business might have to consider delisting from the London Stock Exchange if serious Western investors are no longer willing to own the equity.”
Lloyds was one of the first banks to increase mortgage rates after yesterdays interest rates hike and their shares have seen an uptick of 0.2% to 48p.
Barclays, Natwest, HSBC and Standard Charter shares were down 0.9%, 0.3%, 0.7% and 1.3% on Friday morning.
Pearson
Pearson shares were down heavily as optimism around a potential takeover by Apollo subsided.
“Pearson was the top faller on the FTSE 100 which doesn’t send a positive signal regarding current takeover talks. Private equity firm Apollo has already had two bids rejected but was still trying to come up with an offer that would win over the board and shareholders,” commented Mould.
Travel related shares were heavily hit by rising oil prices, with Rolls Royce Holdings falling 3% to 91.1p and International Consolidated Airlines (IAG) decreasing 2.9% to 137.8p.
ITV shares declined 3.2% to 83.1p as investors watch the company prepare its ITVX project for launch into the highly competitive streaming entertainment market.