The FTSE 100 was steady Friday as investors assessed the implications of Nvidia’s CEO’s sacking and potential ramifications for the global AI trade and the wider economy.
After a rollercoaster week for US technology shares, futures pointed to a benign session later today, perhaps reflecting fatigue from a week of unexpected events with no playbook.
Oil prices were a touch higher at the time of writing after another week of declines as investors awaited further developments US/Iran diplomatic efforts.
BP and Shell were among the best-performing FTSE 100 stocks, with Brent oil trading around $96.
London-listed companies delivered little corporate news on Friday, leaving the index trading in a tight range just shy of 10,900.
Aviva
Aviva was one of the few FTSE 350 companies to announce anything meaningful, releasing a Q3 trading statement that the market welcomed.
Chris Beauchamp, Chief Market Analyst UK at investing and trading platform IG: “The strong trading in its wealth division provides another string to Aviva’s bow, and has played a big part in the rally in the shares to new post-financial crisis highs.
“While we’re all used to thinking of Aviva as an insurer, it is growth in wealth management that offers the real potential for the future. With tech stocks looking wobbly again, Aviva’s combination of dividend and share price growth is a compelling proposition.”
Aviva shares were 2% higher at the time of writing and were the FTSE 100’s best performer.