British stocks opened higher Friday as Middle East tensions kept markets volatile. The FTSE 100 gained 0.2% while the pound strengthened to 1.3369 against the dollar. European markets followed suit with Germany's index up 0.9% and France's rising 0.4%. Investors remain cautious as geopolitical developments drive market movements.

Industrial components maker IMI PLC announced a £500 million share buyback after posting its fifth consecutive year of growth. The company reported organic revenue growth of 5% to £2.30 billion, with adjusted earnings per share rising 8% to 132.3p. IMI's adjusted operating margin improved to 20.0%, projecting continued growth in 2026.

UK house prices reached a fresh record of £301,151 in February, increasing 0.3% monthly. Marwyn Acquisition terminated merger discussions with Palmer Street, citing premature listing concerns. Oil market tensions persist, with analysts suggesting prices could exceed $90 but unlikely to sustain above $100 amid potential U.S. measures to ease crude supply.