- FTSE 100 up 0.05%, FTSE 250 up 0.03%
June 6 (Reuters) - London shares remained nearly flat on Friday as investors adopted a wait-and-see approach ahead of crucial U.S. jobs data.
As of 0950 GMT, the blue-chip FTSE 100 was up 0.05%, poised for its fourth consecutive weekly gain.
The domestically focused FTSE 250 was up 0.03% on the day, heading toward its second straight weekly advance.
The upcoming US non-farm payrolls report will likely set the market tone, offering insights into how U.S. President Donald Trump's trade policies are affecting the labor 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 aluminum 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 U.S.-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%.
Life insurers were up 0.5% after Deutsche Bank upgraded Phoenix and Prudential to "buy", with both stocks climbing nearly 1%.
On the flip side, industrial metal miners dropped 1.1%.
The heavy-weight aerospace and defence index shed 0.8% with Babcock International Group sliding 3.4%, 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.
Investors will closely monitor next week's employment figures and April GDP estimates for further insights into the country's economic health.
Reporting by Ragini Mathur in Bengaluru; Editing by Shailesh Kuber
Source: Reuters