FTSE 100 steadies as Marks Electrical reports weaker revenue and Union Jack Oil abandons Oklahoma well. Brent crude slips while gold rises.
Market Overview
UK and European markets were broadly steady at the open, with the FTSE 100 edging 0.01 per cent higher to 10,400.46, while the Euronext 100 slipped 0.02 per cent and Germany’s DAX gained 0.19 per cent. In the US, overnight sentiment was stronger, with the Nasdaq and the S&P 500 both closing higher. Investors continued to assess political uncertainty in the UK, Federal Reserve policy expectations and developments in global trade and geopolitical relations. Oil markets remained in focus as supply flows through the Strait of Hormuz improved, easing some concerns over disruption.
Commodity markets presented a mixed picture. Gold and copper moved higher, while Brent crude and natural gas eased. Bitcoin was unchanged against sterling. Sterling weakened against the Swiss franc and Australian dollar but strengthened modestly against the euro and US dollar, reflecting a cautious risk environment and ongoing macroeconomic uncertainty.
Market Numbers
FTSE 100: Up (+0.01%), 10,400.46
Euronext 100: Down (-0.02%), 1,930.50
DAX: Up (+0.19%), 25,075.33
NASDAQ: Up, 26,517.93
S&P 500: Up, 7,500.58
In the Headlines
Revenue Decline – Marks Electrical (LSE:MRK)
Marks Electrical reported an 8 per cent fall in FY26 revenue as the online electricals retailer reduced lower-margin marketplace activity and focused on its core direct sales operations. The results highlight continued pressure on consumer spending and margins across the retail sector.
Well Abandoned – Union Jack Oil (LSE:UJO)
Union Jack Oil said it will abandon the Crossroads well in Oklahoma after testing failed to deliver commercial hydrocarbon flows. The outcome is a setback for the company’s US growth ambitions and removes a potential near-term production catalyst.
Currencies (vs GBP)
USD: Up (+0.01%), $1.3202
CHF: Down (-0.02%), Fr.1.0627
EUR: Up (+0.01%), €1.1521
JPY: Up (+0.01%), ¥212.944
AUD: Down (-0.02%), $1.8825
Bitcoin (BTC/GBP): Up, £47,647
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Down
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