FTSE 100 Gains as Mideast Tensions Ease; Apollo Makes £5.7 Billion Bid for easyJet

London's FTSE 100 index advanced on Friday as signs of diplomatic de-escalation in the Middle East calmed investor sentiment, while major corporate deals, including a new takeover bid for easyJet, provided a further boost.

By 03:25 ET (07:25 GMT), the UK's blue-chip FTSE 100 index was up 0.23%, according to Investing.com data. Gains were mirrored across Europe, with Germany’s DAX and France’s CAC 40 also trading in positive territory.

Market Responds to Geopolitical Calm

Investor risk appetite improved following reports of continued diplomatic contact between Washington and Tehran, aimed at resolving the conflict in the Middle East. Regional mediators have reportedly stepped up efforts to salvage talks, easing immediate concerns of a wider escalation.

The shift in sentiment was reflected in commodity markets, which often serve as a barometer for geopolitical risk. Brent crude futures fell 0.84% to $75.66 a barrel, while gold futures also declined as demand for safe-haven assets receded.

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Corporate Movers Drive London Stocks

Significant M&A activity and corporate earnings reports were also key drivers for UK equities. A number of individual stocks saw notable price movements on Friday morning.

• easyJet (EZJ): The airline was in focus after Apollo Global Management made an agreed-in-principle takeover approach valued at £5.7 billion (£7.15 per share), trumping a previous offer from rival Castlelake.
• Vodafone (VOD): The telecom group's shares were active after UAE-based e& agreed to sell its 16.3% stake to Xavier Niel-backed Vega for $5.95 billion, a transaction priced at a 13% premium.
• Hays (HAYS): The recruitment specialist forecast that its full-year operating profit for fiscal 2026 would be at the top end of market expectations, crediting cost-cutting measures for offsetting weak hiring activity.
• MJ Gleeson (GLEG): The housebuilder reported annual profit in line with expectations but issued a cautious outlook, warning that geopolitical risks and potential UK policy shifts could weigh on its performance.