European markets and politics ended the week on a mixed note, with London equities nudged higher by renewed mining deal speculation, while a powerful storm disrupted daily life across parts of northern Europe.
Political uncertainty also loomed in France, where a confidence vote over the Mercosur trade pact threatens fresh turmoil.
Meanwhile, Italy’s prime minister called for a cautious rethink of Europe’s diplomatic approach to Russia, underscoring widening debates over security, trade and economic resilience.
London stocks rise on mining M&A
London stocks edged higher on Friday, lifted by miners after a burst of deal speculation in the sector.
Glencore jumped after confirming it had held preliminary talks with Rio Tinto over a potential merger, stoking bets on further consolidation in commodities.
Rio and Anglo American also gained as investors weighed the chances of fresh offers in a still-underpowered UK market.
Broader sentiment was helped by calmer bond yields and hopes that global rate cuts later this year could support growth.
Still, traders said volumes were thin, and caution persisted ahead of key US data that could sway central bank expectations.
Storm Goretti batters northern Europe
Storm Goretti barrelled across northern Europe on Friday, triggering widespread power cuts and transport disruption as heavy winds and rain lashed several countries.
Utilities reported hundreds of thousands of homes without electricity, while fallen trees and flooding shut roads and rail lines, and forced flight and ferry cancellations.
Authorities in affected regions warned of dangerous travel conditions and urged residents to stay indoors where possible.
Emergency crews worked through the day to restore power and clear debris, but officials said it could take time to fully repair damaged networks.
The storm added to recent bouts of extreme weather that have tested Europe’s infrastructure and resilience.
France faces Mercosur confidence vote
French opposition parties moved to topple the government on Friday over a controversial trade deal with South America’s Mercosur bloc, setting up a high-stakes confidence vote that could force snap elections.
Critics warned the pact would undercut French farmers and environmental standards, tapping into deep public unease over globalisation and rural livelihoods.
The government defended the agreement as vital for exports and geopolitical influence, but struggled to quell a rebellion that united left and right lawmakers.
If the no-confidence motion passes, it would mark a rare parliamentary defeat and throw French politics into fresh turmoil just months after the last election.
Meloni urges G8 dialogue rethink
Italian Prime Minister Giorgia Meloni urged Europe to reopen dialogue with Russia on Friday, arguing that diplomatic channels were needed even as she ruled out any swift return to the G8.
Speaking ahead of a summit, Meloni said isolating Moscow indefinitely was counterproductive, but stressed that readmission to the elite club of democracies remained far off while the war in Ukraine continues.
Her comments highlighted a growing debate within Europe over how to balance pressure on the Kremlin with longer-term security interests, though many capitals remain wary of any steps that could be seen as rewarding aggression.
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