London open: Stocks edge up ahead of payrolls
By Michele Maatouk
Date: Friday 06 Jun 2025
(Sharecast News) - London stocks edged up in early trade on Friday as investors eyed the latest US non-farm payrolls report.
At 0825 BST, the FTSE 100 was up 0.2% at 8,825.03.
Richard Hunter, head of markets at Interactive Investor, said: "Attention now turns to the non-farm payrolls report later, which is often described as the most important individual economic release of any given month. The release will garner particular attention given that it could awaken the Federal Reserve from its current holding pattern should the number be much weaker than expected.
"It also comes after reports earlier in the week which implied some softening in the labour market, with the ADP number being sharply short of expectations and jobless claims ahead of estimates. Non-farms are expected to show that 125,000 jobs will have been added in May as compared to 177,000 the previous month and that the 4.2% unemployment rate will remain unchanged."
The payrolls report for May is due at 1330 BST, along with the unemployment rate and average earnings.
On home shores, data released earlier by Halifax showed that house prices eased slightly in May following surge in activity during spring.
House prices fell by 0.4% last month following a 0.3% rise in April. The average property price is now £296,648.
However, Halifax said the market remained stable, with house prices up 2.5% over the year.
Amanda Bryden, head of mortgages at the lender, said: "These small monthly movements point to a housing market that has remained largely stable, with average prices down just 0.2% since the start of the year.
"The market appears to have absorbed the temporary surge in activity over spring, which was driven by the changes to stamp duty."
The UK housing market saw a flurry of activity earlier this year, as homebuyers rushed to complete deals ahead of changes to stamp duty thresholds, which came into effect on April.
Looking ahead, Bryden acknowledged that affordability remained a challenge for many, with house prices still high relative to incomes.
But she continued: "Lower mortgage rates and steady wage growth have helped support buyer confidence.
"The outlook will depend on the pace of cuts to interest rates, as well as the strength of future income growth and broader inflation trends.
"Despite ongoing pressure on household finances and still-uncertain economic backdrop, the housing market has shown resilience, a story we expect to continue in the months ahead."
In equity markets, Phoenix Group and Prudential were both in the black after an upgrade to 'buy' at Deutsche Bank.
Healthcare property investment and management firm Assura rose as it confirmed that due diligence in relation to a takeover proposal from Primary Health Properties is still ongoing.
After formally adjourning a court meeting and general meeting required to implement an earlier takeover offer from KKR and Stonepeak, Assura said that the due diligence process with PHP - which on 16 May sweetened its proposal to outbid KKR/Stonepeak - is moving ahead in a timely manner.
Trainline advanced after being selected by the Rail Delivery Group as a technology supplier to support one of four digital pay-as-you-go trials.
Market Movers
FTSE 100 (UKX) 8,825.03 0.16%
FTSE 250 (MCX) 21,075.74 0.03%
techMARK (TASX) 4,932.62 0.17%
FTSE 100 - Risers
SSE (SSE) 1,763.00p 1.56%
Phoenix Group Holdings (PHNX) 651.50p 1.24%
3i Group (III) 4,192.00p 1.01%
Babcock International Group (BAB) 1,115.00p 0.90%
Vodafone Group (VOD) 74.14p 0.87%
Airtel Africa (AAF) 183.00p 0.72%
Smurfit Westrock (DI) (SWR) 3,200.00p 0.69%
International Consolidated Airlines Group SA (CDI) (IAG) 333.10p 0.63%
Prudential (PRU) 873.80p 0.62%
BP (BP.) 359.95p 0.57%
FTSE 100 - Fallers
Bunzl (BNZL) 2,264.00p -1.05%
Rio Tinto (RIO) 4,358.50p -0.74%
JD Sports Fashion (JD.) 80.04p -0.72%
Relx plc (REL) 3,951.00p -0.70%
Anglo American (AAL) 2,280.50p -0.57%
Associated British Foods (ABF) 2,057.00p -0.48%
Experian (EXPN) 3,792.00p -0.47%
Informa (INF) 795.80p -0.43%
Weir Group (WEIR) 2,436.00p -0.41%
Pearson (PSON) 1,103.50p -0.41%
FTSE 250 - Risers
Raspberry PI Holdings (RPI) 469.00p 3.53%
Diversified Energy Company (DEC) 1,060.00p 3.01%
Kainos Group (KNOS) 760.00p 2.77%
Elementis (ELM) 158.60p 2.72%
Aston Martin Lagonda Global Holdings (AML) 83.50p 2.64%
W.A.G Payment Solutions (WPS) 75.00p 2.18%
Wizz Air Holdings (WIZZ) 1,232.00p 2.07%
Pets at Home Group (PETS) 268.80p 2.05%
Crest Nicholson Holdings (CRST) 178.50p 1.88%
SDCL Efficiency Income Trust (SEIT) 44.75p 1.70%
FTSE 250 - Fallers
Bytes Technology Group (BYIT) 509.50p -3.69%
Savills (SVS) 941.00p -2.79%
Vesuvius (VSVS) 358.80p -2.29%
Bodycote (BOY) 557.50p -1.85%
Future (FUTR) 675.00p -1.82%
Serco Group (SRP) 187.60p -1.63%
Syncona Limited NPV (SYNC) 83.60p -1.30%
Just Group (JUST) 144.60p -0.96%
Smithson Investment Trust (SSON) 1,480.00p -0.94%
Morgan Advanced Materials (MGAM) 212.50p -0.93%
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