The FTSE 100 is ending a turbulent week on the front foot - taking its cue from strong trading in Asia and the US overnight to gain 1% to 7,692.20. The US appearing to dial back some of its more aggressive rhetoric on trade for now.
In corporate news, the market chooses to focus on a first half revenue slide at outsourcer Serco (SRP) despite a guided increase of up to 20% in underlying trading profit in today's trading update.
For the six months through June, the company expects to report revenue of around £1.35bn and underlying trading profit of £35 to £40m. In the previous corresponding period, revenue was £1.51bn and underlying trading profit was £34m.
The shares are down 6.9% at 94p.
Defence outfit BAE Systems (BA.) gains 2.1% to 645.4p as it updates on contracts agreed with the Australian and Qatar government.
BAE Systems is to deliver its nine ship Future Frigate programme to the Royal Australian Navy. BAE will design, build and support the ships and the contract is worth about A$35bn.
Production of the first ship is expected to start in early 2020s.
Separately BAE Systems signed a contract with the Qatar government to supply 24 Typhoon aircraft to the Qatar Emiri Air Force with a bespoke support and training package.
Mining giant BHP Billiton (BLT) agrees to fund a total of $211m in financial support for the Renova Foundation until the end of the year.
The Renova Foundation, created to help victims of the Samarco dam disaster in Brazil, would receive $158m, which would be used to fund remediation and compensation programs under an agreement with Brazilian authorities.
Its shares are up 2.8% on the news.
Africa budget airline Fastjet (FJET) announces plans for a $10m fundraise to provide sufficient working capital to get it through the remainder of 2018.
On Wednesday the company issued a warning about its ability to continue as a going concern. Today's update helps restore some hope on its future viability and the shares rise 109% to 6.8p. To put that into context, the shares were trading above 15p earlier this week.
For the 12 months to 31 December, losses before tax narrowed to $24.4m from $67.5m the previous year, revenue fell 32.6% to £46.2m and operating losses were 61% lower at $25.3m compared with $65.6m the previous year.
