US stocks ended Friday higher as investors focused on the debut of SK Hynix shares on Nasdaq, while also monitoring developments in ceasefire discussions between the US and Iran.
The Dow Jones Industrial Average rose 0.3%, the S&P 500 added 0.4% and the Nasdaq Composite increased 0.3%, extending gains from the previous session. Both the S&P 500 and Nasdaq recorded weekly gains after a period of volatile trading.
SK Hynix became the main focus of Wall Street after its US listing marked the largest ever offering by a foreign company. Shares of the South Korean memory chip maker, which supplies Nvidia, opened at $170, around 14% above its initial public offering price, after the company raised $26.5 billion through the share sale.
The strong debut provided further attention on demand for artificial intelligence-related hardware, with investors continuing to monitor whether spending on AI infrastructure can support valuations across the technology sector.
Elsewhere, Delta Air Lines shares fell despite the company beating earnings expectations, as higher fuel costs weighed on its second-quarter results. The airline said its premium business helped offset those pressures and it reinstated its full-year guidance.
Apple also attracted attention after filing a lawsuit against OpenAI, accusing the company of trade secret theft as part of its efforts to develop consumer AI hardware. The lawsuit alleges that former Apple employees who moved to OpenAI misused confidential information relating to suppliers, unreleased products and internal processes.
Apple claims former product design executive Tang Tan and former electrical engineer Chang Liu were involved in obtaining proprietary information before and after joining OpenAI. The company also named io Products, an AI hardware business founded by Tan and former Apple designer Jony Ive, which OpenAI acquired in 2025.
The legal action follows a deterioration in the relationship between Apple and OpenAI after the companies initially partnered on integrating ChatGPT into Apple Intelligence in 2024. Apple is now expected to introduce a version of Siri using Google’s Gemini AI technology later this year.
In London, the FTSE 100 recovered 0.2% on Friday while the FTSE 250 gained 0.6%, although both indices ended the week lower. The FTSE 100 declined 1.7% over the week and the FTSE 250 fell 0.7%.
Vodafone was the strongest performer on the FTSE 100, rising 13% after investment vehicle Vega agreed to acquire Emirates Telecommunications’ 16.2% stake in the company for £4.4 billion. The deal, subject to regulatory approval, will make Vega Vodafone’s largest shareholder.
Vega said it does not plan to make a takeover offer but intends to work with the UK government on the transaction.
The move also lifted BT Group shares by 1.6% as investors considered the potential implications for the wider telecoms sector.
St James’s Place was among the biggest fallers, dropping 8.6% after reports that partner firm Sovereign Wealth plans to leave the group and join advice consolidator Soderberg and Partners. Analysts at RBC Capital Markets said the move raised concerns about the impact of recent changes to St James’s Place’s charging structure.
On the FTSE 250, Hays jumped 20% after the recruiter forecast annual profits towards the top end of market expectations despite weaker hiring conditions. The company reported a smaller-than-expected decline in net fees during the final quarter of its financial year.
easyJet also climbed sharply, gaining 14% after receiving a £5.7 billion takeover proposal from Apollo Management X. The airline said the offer was superior to a previous proposal from Castlelake and was worth 715 pence per share in cash, while Castlelake said it was reviewing its position.
