London stocks tepid ahead of US jobs data; DS Smith shines

UK shares dipped on Friday, ahead of key U.S. jobs data that could help shape investor expectations on interest rate cuts globally, while British packaging firm DS Smith gained on a buyout offer from bigger rival Mondi. The FTSE 100 was down 0.1%, as of 0821 GMT.

UK shares dipped on Friday, ahead of key U.S. jobs data that could help shape investor expectations on interest rate cuts globally, while British packaging firm DS Smith gained on a buyout offer from bigger rival Mondi.

The FTSE 100 was down 0.1%, as of 0821 GMT. The mid-cap FTSE 250 lost 0.2%, after rising to a three-month high in the previous session. Markets now await crucial U.S. jobs report due later in the day after signals from major central bank officials this week underscored hopes of monetary policy easing this year.

Leading gains in the blue-chip index, shares of DS Smith climbed 5.6% after Mondi reached an agreement in principle for an all-share offer to buy the company for 5.14 billion pounds ($6.57 billion). Mondi's 3.2% drop led to declines in the benchmark index.

Energy shares helped limit losses, up 0.4% after oil prices gained on growing demand from the U.S. and China. Industrial engineering stocks led sectoral losses, dragged by a 2.5% slump in Spirax-Sarco after Stifel downgraded the company's shares to "sell" from "hold."

Among other stocks, Informa climbed 1.2% after the events organizer raised its earnings forecast for the current year and posted an upbeat 2023 profit.