FTSE 100 edges lower as M&S profits fall after cyber disruption while British Land gains on AI-driven office demand.
Market Overview
European markets traded mixed on Tuesday morning, with the FTSE 100 edging lower while Germany’s DAX outperformed following softer UK inflation data and continued expectations for central bank easing later this year. The FTSE 100 slipped 0.06 per cent, while the CAC40 was marginally weaker. In contrast, the DAX gained ground alongside positive momentum from Wall Street, where the Nasdaq and S&P 500 both advanced. Investors continued to assess weakening UK labour market conditions and rising unemployment alongside easing inflation pressures.
Commodity markets reflected a more cautious tone as Brent crude prices eased despite reports of petrol prices reaching fresh highs in the UK. Gold traded slightly lower while copper gained modestly, supported by ongoing expectations of industrial demand linked to infrastructure and AI investment themes. Sterling was mixed against major currencies, slipping against the US dollar and Japanese yen while strengthening modestly against the euro and Swiss franc. Bitcoin also moved higher against sterling.
Market Numbers
FTSE 100: Down (-0.06%), 10,284.78
CAC40: Down (-0.07%), 7,981.760
DAX: Up (0.38%), 24,400.65
NASDAQ: Up (0.40%), 28,931.6
S&P 500: Up (0.19%), 7,366.4
In the Headlines
Cyber Attack Impact – Marks & Spencer (LSE:MKS)
Marks & Spencer reported a sharp decline in annual profits after disruption linked to a cyber attack affected operations and increased costs. The retailer said it was making operational progress despite the setback, with investors closely watching recovery efforts and consumer demand trends.
Office Demand Boost – British Land (LSE:BLND)
British Land posted stronger profits as demand for premium office space improved, driven partly by continued investment linked to artificial intelligence and technology firms. The update reinforced confidence in high-quality commercial property assets despite broader economic uncertainty.
Currencies (vs GBP)
USD: Down (-0.06%), $1.3389
CHF: Up (0.16%), Fr.1.05846
EUR: Up (0.04%), €1.1545
JPY: Down (-0.07%), ¥212.943
AUD: Down (-0.01%), $1.883830
Bitcoin (BTC/GBP): Up (0.73%), £57,738.2
Commodities
Copper: Up (0.17%), 6.2562
Gold: Down (-0.02%), 4,500.22
Brent Crude: Down (-0.90%), 106.765
Natural Gas: Down (-0.61%), 3.2565
Leave a Reply