London midday: Stocks touch higher in quiet trade; gold miners shine
By Michele Maatouk
Date: Friday 08 Aug 2025
(Sharecast News) - London stocks were still just a touch firmer by midday on Friday in what was turning out to be a fairly quiet end to a busy week.
The FTSE 100 was up just 0.1%, at 9,106.44, having closed down 0.7% on Thursday after a hawkish rate cut from the Bank of England.
Danni Hewson, head of financial analysis at AJ Bell, said: "Overall it has been a mixed week for the index with the split vote and hawkish tone adopted by the Bank of England yesterday lifting sterling and hitting the relative value of the Footsie's dominant overseas earnings."
Industry data out earlier showed that retail footfall dipped in July but the decline eased markedly from a month earlier.
According to figures from the British Retail Consortium and Sensormatic, total footfall fell 0.4% year-on-year, but this was an improvement on June's 1.8% drop.
On high streets, footfall was down 1.7% last month, versus a 3% fall in June. Meanwhile, footfall at retail parks rose 1.7% in July following a 1.1% decline in June.
Footfall at shopping centres ticked down 0.3% but this was an improvement on June's 1.6% drop.
BRC chief executive Helen Dickinson said: "July failed to bring about the summer boost in shoppers many retailers had hoped for. Instead, footfall dipped in July for the second consecutive year. There were bright spots, with Manchester, Birmingham, and Leeds all showing an improvement in numbers of store visits. Retail parks continued to outperform other destinations with some seeing big brands opening new outlets.
"Customers want a vibrant shopping destination, but with around one in seven shops lying empty, more needs to be done to turn town and city centres into places people want to visit. While government's plan to reduce business rates for most retail, hospitality and leisure premises is a step in the right direction, only a substantial cut will truly benefit communities nationwide and help bring thousands of empty shops back into use.
"Many smaller shops and businesses rely on larger anchor stores to attract footfall so the upcoming reforms must also ensure no store pays more, or risk seeing many larger stores close their doors or raise their prices."
In equity markets, precious metals miners Fresnillo and Hochschild shone as gold prices rallied following a report the US has imposed tariffs on imports of one-kilo gold bars.
Danni Hewson said: "Sustained by factors like its safe haven credentials and a weakening dollar in 2025 - this latest development will have gold bugs eyeing the $4,000 level.
"The news is more bad news for Switzerland after being hit by a shock 39% export tariff to the US, given it is one of the biggest precious metal hubs globally.
"The move higher in gold helped to lift shares in gold and silver miner Fresnillo in London, extending its advance year-to-date to more than 160%."
GSK edged up after saying it would receive an upfront settlement of $370m in connection with the mRNA patent settlement reached between CureVac and BioNTech.
Capita gained after saying that its contact centre subdivision has secured a three-year extension to its partnership with ScottishPower for an undisclosed sum.
Senior jumped to the top of the FTSE 250 after an initiation of coverage at 'buy' by Berenberg, which said the recent agreement to sell the Aerostructures business was a "pivotal moment" for the company.
On the downside, online sports betting and iGaming operator Flutter Entertainment slumped despite lifting its full-year outlook as it hailed a solid second quarter.
The FanDuel and Paddy Power owner said group revenue and adjusted EBITDA for FY25 are now expected to be $17.26bn and $3.295bn at the midpoint representing 23% and 40% year-over-year growth, respectively.
Hewson said: "Gambling outfit Flutter Entertainment struck out with investors despite reporting solid growth and lifting annual revenue guidance by a smidge overnight.
"These positive headlines do not tell the whole story as, apart from its US iGaming business and a strong contribution from international acquisitions, the company saw underwhelming growth across most regions.
"This suggests the company could be losing share in several markets, with overall growth in the US, for example, some way behind several of its peers."
Elsewhere, Georgian bank TBC tumbled even as it reported a 23% increase in second-quarter operating income to 835m Georgian lari (£235m), while net profit rose 5% to GEL 346m, driven by strong net interest income and an increased loan book.
Market Movers
FTSE 100 (UKX) 9,106.44 0.06%
FTSE 250 (MCX) 21,917.35 -0.09%
techMARK (TASX) 5,242.09 -0.18%
FTSE 100 - Risers
Fresnillo (FRES) 1,729.00p 3.35%
Glencore (GLEN) 287.45p 2.50%
JD Sports Fashion (JD.) 87.86p 1.97%
Vodafone Group (VOD) 84.88p 1.56%
Rentokil Initial (RTO) 377.60p 1.48%
Smurfit Westrock (DI) (SWR) 3,261.00p 1.40%
Berkeley Group Holdings (The) (BKG) 3,754.00p 1.35%
Melrose Industries (MRO) 588.60p 1.31%
Hiscox Limited (DI) (HSX) 1,360.00p 1.19%
Rio Tinto (RIO) 4,547.50p 1.08%
FTSE 100 - Fallers
Flutter Entertainment (DI) (FLTR) 21,950.00p -4.19%
Entain (ENT) 968.40p -2.77%
InterContinental Hotels Group (IHG) 8,968.00p -2.33%
WPP (WPP) 382.70p -2.32%
Compass Group (CPG) 2,584.00p -2.23%
Pearson (PSON) 1,062.50p -2.12%
Croda International (CRDA) 2,547.00p -1.81%
Relx plc (REL) 3,609.00p -1.55%
Admiral Group (ADM) 3,360.00p -1.52%
Experian (EXPN) 3,806.00p -1.40%
FTSE 250 - Risers
Senior (SNR) 196.60p 5.36%
Hochschild Mining (HOC) 315.20p 3.14%
Harbour Energy (HBR) 229.20p 3.06%
Ocado Group (OCDO) 391.30p 2.97%
ICG Enterprise Trust (ICGT) 1,484.00p 2.20%
Quilter (QLT) 163.30p 2.19%
Aston Martin Lagonda Global Holdings (AML) 74.00p 1.93%
CMC Markets (CMCX) 234.50p 1.74%
RHI Magnesita N.V. (DI) (RHIM) 2,250.00p 1.35%
AJ Bell (AJB) 530.00p 1.34%
FTSE 250 - Fallers
TBC Bank Group (TBCG) 4,520.00p -10.85%
Baltic Classifieds Group (BCG) 347.00p -2.66%
Rank Group (RNK) 151.20p -2.45%
Auction Technology Group (ATG) 341.50p -2.43%
Elementis (ELM) 167.80p -2.33%
Dr. Martens (DOCS) 76.40p -2.24%
Trustpilot Group (TRST) 238.40p -2.13%
4Imprint Group (FOUR) 3,180.00p -2.00%
SSP Group (SSPG) 165.60p -1.84%
JPMorgan Indian Investment Trust (JII) 1,058.00p -1.67%
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