British stocks slightly higher on Friday afternoon trading as investors digest yesterday’s European Central Bank rate cut, U.K. house price data for May, along with ongoing tariff tensions.
As of 1250 GMT, the blue-chip index FTSE 100 gained 0.1%, while the British pound fell 0.3% against the dollar but still above 1.35. 
Meanwhile, DAX index in Germany dropped 0.2%, the CAC 40 in France gained 0.09%.  
EU reportedly open to cutting U.S. fertilizer tariffs
The European Union is weighing the possibility of cutting tariffs on fertilizer imports from the United States as part of ongoing trade talks with the Trump administration, according to EU agriculture commissioner Christophe Hansen, cited by Reuters on Friday.
Hansen emphasized that while the tariff cuts are under consideration, the EU remains firm on upholding its stringent food safety regulations.
Canal+ shares surge after settling French tax dispute 
Canal+ SA (LON:CAN) shares jumped more than 8% after the company announced a settlement with France’s national film body, CNC, regarding how the tax base for the country’s Television Services Tax is calculated.
The deal resolves a past legal dispute, eliminating the threat of a significant payout, and while it won’t affect cash flow, it will lead to a one-time charge in H1 2025.
Pinewood surges on deal to take full control of North American JV
Pinewood Technologies Group PLC (LON:PINE) shares soared more than 11% on Friday following news that it will acquire the remaining 51% stake in its North American joint venture from Lithia Motors Inc (NYSE:LAD) for $150 million.
The deal gives Pinewood full control of Pinewood North America LLC, paving the way for broader rollout of its dealership software throughout the U.S. and Canada.
U.K. house prices dip sharply in May
Home prices in the United Kingdom (TADAWUL:4280) declined more than forecast in May, slipping 0.4% after a 0.3% rise in April, Halifax data showed Friday.
The drop outpaced expectations of a 0.1% fall, pointing to renewed pressure in the housing market.
On an annual basis, prices rose 2.5%, underperforming the 3.0% gain analysts had projected.
Latest on Trump-Xi talks
Former U.S. President Donald Trump and Chinese leader Xi Jinping spoke by phone on Thursday, reaching a basic understanding to continue discussions.
The conversation comes a day after Trump described the Chinese President as “tough” and “extremely hard to make a deal with.”
While no major breakthroughs occurred, the exchange could help ease the intensity of recent rhetoric between the two sides.
Germany’s industrial output slumps in April 
In European economic data, German industrial output shrank by 1.4% in April, a steeper decline than the anticipated 1.0%, following a downwardly revised 2.3% increase in March.
The contraction was broad-based, with pharmaceutical production plunging 17.3%, nearly reversing the sector’s sharp gain in the previous month.
ECB’s Kazaks urges pause in rate cuts
European Central Bank policymaker Martins Kazaks has urged a pause in the central bank’s streak of rate reductions, emphasizing the importance of keeping options open due to ongoing economic unpredictability, according to a Friday report from Reuters.
Kazaks suggested that the recent series of rate cuts should come to an end, cautioning against assumptions of further reductions at every policy meeting.
He noted that there is currently no pressing need for more cuts, and preserving monetary policy flexibility would be prudent.
Rosebank Industries to raise £1.14 bln for ECI acquisition
In British corporate news, investment firm Rosebank Industries PLC (LON:ROSE) said on Friday that it aims to secure around £1.14 billion ($1.55 billion) to help fund its planned takeover of U.S.-based Electrical Components International (ECI).
The firm, which specializes in buying and enhancing businesses before reselling them, restarted talks to acquire ECI earlier this week.
The deal is expected to be valued at just under $1.9 billion.
HSBC Chairman exits 
Mark Tucker is set to depart HSBC Holdings (NYSE:HSBC) PLC (LON:HSBA) after serving nearly eight years as chairman, as the bank undergoes a significant restructuring.
He will take on a new role as chair of Hong Kong-based insurer AIA Group Ltd (HK:1299), a company he previously led.
Brendan Nelson will temporarily assume the chairman position at HSBC while the search for a permanent successor continues.