FTSE 100 rises as US-Iran talks support sentiment. BAT upgrades forecasts, Chemring profits fall, while gold gains and oil softens.
Market Overview
Markets were mixed overnight, with the FTSE 100 advancing 0.37 per cent to 10,365.42, while the CAC 40 and DAX slipped 0.45 per cent and 0.40 per cent respectively. In the United States, the Nasdaq gained 0.24 per cent, while the S&P 500 edged 0.05 per cent lower. Investor sentiment was supported by ongoing US-Iran discussions, although uncertainty around the outcome of negotiations continued to temper enthusiasm across European markets.
Commodity markets remained a key focus, with gold and copper moving higher while Brent crude eased despite recent gains linked to geopolitical concerns. Natural gas also advanced. Sterling strengthened against the US dollar, euro and yen, while Bitcoin retreated sharply against the pound. The combination of improving risk sentiment and continued geopolitical developments remained the dominant macro driver.
Market Numbers
FTSE 100: Up (0.37%), 10,365.42
CAC40: Down (-0.45%), 8,146.590
DAX: Down (-0.40%), 25,003.04
NASDAQ: Up (0.24%), 30,478.8
S&P 500: Down (-0.05%), 7,592.5
In the Headlines
Forecast Upgrade – British American Tobacco (LSE:BATS)
British American Tobacco raised its forecast for growth in its new-category business, citing strong demand for vaping products and nicotine pouches. The update highlights the group’s continued shift away from traditional tobacco products and supports confidence in future earnings growth.
Expansion Costs Weigh – Chemring Group (LSE:CHG)
Chemring reported an 8 per cent decline in first-half profit despite higher sales, as significant investment in capacity expansion increased costs. The defence technology group’s results underline the near-term impact of growth spending while demand across its markets remains robust.
Currencies (vs GBP)
USD: Up (0.13%), $1.3472
CHF: Down (-0.06%), Fr.1.05788
EUR: Up (0.01%), €1.1564
JPY: Up (0.16%), ¥215.174
AUD: Down (-0.03%), $1.876430
Bitcoin (BTC/GBP): Down (-2.23%), £51,804.7
Commodities
Copper: Up (0.85%), 6.65962
Gold: Up (1.10%), 4,534.13
Brent Crude: Down (-1.42%), 93.624
Natural Gas: Up (0.47%), 3.202
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