Oct 9 (Reuters) - London shares rose on Friday as easing oil prices and a retreat in gilt yields lifted sentiment, putting the main UK indexes on track to end a volatile week with modest gains.
The blue-chip FTSE 100 index rose 0.7% to 10,516.25 points by 1045 GMT, while the midcap FTSE 250 climbed 1.2%.
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Oil prices eased after U.S. President Donald Trump said Washington would not attack Iran before next month's U.S. elections, amid what he described as productive talks to end a war that has disrupted global energy markets
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British government bond yields also retreated, with 10- and 30-year gilt yields easing after hitting fresh multi-decade highs earlier this week
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For the week, the FTSE 100 and FTSE 250 were set to post small advances, recovering from volatile trading driven by higher oil prices and renewed concerns over inflation, borrowing costs and the outlook for interest rates
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Shares in Airtel Money opened flat in their London debut on Friday, a steady start to one of London's biggest listings in years after a heavily oversubscribed offer
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Airtel Money's stock opened at £1.96, on par with its IPO price
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Telecom stocks were among the biggest decliners after SpaceX's deal to acquire a nationwide portfolio of low-band spectrum licences, paving the way for Starlink Mobile to become a major US telecom operator
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Vodafone, Airtel Africa and BT Group fell between 2.5% and 5.4%, making them the FTSE 100's weakest performers
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On the FTSE 250, SSP Group, owner of the Upper Crust chain, fell 4% after forecasting annual operating profit slightly below its previous expectations
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Morgan Advanced Materials rose 8.7% after RBC Capital Markets upgraded the chip-components supplier and lifted its price target, citing the sale of its Thermal Products unit and greater exposure to higher-margin aerospace and defence markets
Reporting by Ragini Mathur in Bengaluru
Source: Reuters