European markets rise while the FTSE slips as BT cuts costs, easyJet flags weaker bookings and Brent crude climbs above 103.
Market Overview
European equities moved higher in early trade, with the CAC40 rising 1.70 per cent to 8,117.420 and the DAX up 1.38 per cent to 24,737.24, while the FTSE 100 slipped 0.52 per cent to 10,384.03. US markets were mixed overnight, with the Nasdaq edging 0.29 per cent higher and the S&P 500 broadly flat. Investors continued to assess geopolitical tensions in the Middle East alongside developments in technology markets, including growing focus on OpenAI’s potential IPO prospects and SpaceX’s latest listing plans.
Commodity markets reflected a cautious tone, with Brent crude climbing 0.80 per cent to 103.095 amid ongoing concerns around energy supply risks linked to regional conflict. Gold and copper both weakened, suggesting some easing in defensive positioning and industrial demand concerns. Sterling was broadly mixed against major currencies, gaining against the euro and Australian dollar while easing slightly against the US dollar and yen. Bitcoin strengthened modestly against sterling.
Market Numbers
FTSE 100: Down (-0.52%), 10,384.03
CAC40: Up (1.70%), 8,117.420
DAX: Up (1.38%), 24,737.24
NASDAQ: Up (0.29%), 29,181.7
S&P 500: Down (-0.01%), 7,412.9
In the Headlines
Cost Cutting Push – BT Group (LSE:BT.A)
BT reported flat annual earnings and announced a fresh focus on cost reductions as the telecoms group looks to protect profitability amid competitive pressures and ongoing infrastructure investment. The update highlights continued pressure on UK telecom margins despite stable demand.
Booking Weakness – easyJet (LSE:EZJ)
easyJet said summer bookings have softened due to uncertainty linked to the conflict in the Middle East, raising concerns over travel demand during the peak holiday season. The warning adds to wider investor caution around the airline and leisure sector.
Currencies (vs GBP)
USD: Down (-0.11%), $1.3420
CHF: Down (-0.02%), Fr.1.05739
EUR: Up (0.07%), €1.1564
JPY: Down (-0.05%), ¥213.418
AUD: Up (0.49%), $1.886760
Bitcoin (BTC/GBP): Up (0.24%), £57,825.3
Commodities
Copper: Down (-1.30%), 6.2702
Gold: Down (-0.62%), 4,517.72
Brent Crude: Up (0.80%), 103.095
Natural Gas: Up (0.22%), 3.1805
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