FTSE 100 slips as investors monitor easing Middle East tensions. Bellway maintains guidance while GSK agrees an £8bn cancer drug acquisition.
Market Overview
European markets were mixed at the open as easing tensions in the Middle East helped stabilise investor sentiment. The FTSE 100 slipped 0.27 per cent to 10,325.57, while the CAC 40 fell 0.23 per cent and the DAX lost 0.58 per cent. In contrast, US markets finished higher overnight, with the Nasdaq gaining 0.65 per cent and the S&P 500 adding 0.31 per cent. Investors continued to assess developments around Iran-Israel ceasefire efforts and the potential implications for energy markets and broader risk appetite.
Commodity markets reflected improving geopolitical sentiment. Brent crude moved lower after recent volatility linked to Middle East tensions, while copper and natural gas advanced. Gold was little changed as safe-haven demand eased. Sterling strengthened against the US dollar, euro, Japanese yen, Swiss franc and Australian dollar, while Bitcoin weakened against the pound. Markets remain focused on geopolitical developments, energy prices and the outlook for global economic growth.
Market Numbers
FTSE 100: Down (-0.27%), 10,325.57
CAC40: Down (-0.23%), 8,199.290
DAX: Down (-0.58%), 24,616.22
NASDAQ: Up (0.65%), 29,573.0
S&P 500: Up (0.31%), 7,425.0
In the Headlines
Spring Demand Slows – Bellway (LSE:BWY)
Bellway said higher mortgage costs softened demand during the spring selling season, although reservation rates and cancellation levels remained broadly stable. The housebuilder maintained its full-year profit and completion guidance, signalling confidence in underlying market conditions despite affordability pressures.
Cancer Drug Acquisition – GSK (LSE:GSK)
GSK has agreed to acquire US lung cancer specialist Nuvalent in a deal worth approximately £8 billion. The transaction strengthens GSK’s oncology pipeline and underlines the company’s strategy of expanding its portfolio of targeted cancer treatments.
Currencies (vs GBP)
USD: Up (0.20%), $1.3365
CHF: Up (0.09%), Fr.1.06506
EUR: Up (0.15%), €1.1578
JPY: Up (0.20%), ¥214.076
AUD: Up (0.13%), $1.894520
Bitcoin (BTC/GBP): Down (-0.37%), £47,144.1
Commodities
Copper: Up (0.78%), 6.42364
Gold: Up (0.01%), 4,330.29
Brent Crude: Down (-1.30%), 92.202
Natural Gas: Up (0.63%), 3.173
Leave a Reply