FTSE 100 slips as investors assess UK political uncertainty. Ocado confirms succession plans while easyJet rejects a takeover bid. Brent crude rises.
Market Overview
UK markets were marginally weaker at the open, with the FTSE 100 slipping 0.03 per cent to 10,363.58. Across Europe, the Euronext 100 edged 0.03 per cent higher and Germany’s DAX gained 0.04 per cent. Investors remained cautious as political uncertainty surrounding the UK government resurfaced, while European markets assessed developments following the first round of US-Iran talks.
US markets were closed on Friday.
Commodity markets reflected a mixed tone. Brent crude advanced as renewed geopolitical tensions and fresh US rhetoric towards Iran supported oil prices. Gold eased slightly while copper moved higher. Natural gas was little changed. Sterling strengthened against the US dollar and Australian dollar but weakened against the euro, Swiss franc and Japanese yen. Bitcoin was unchanged against sterling.
Market Numbers
FTSE 100: Down (-0.03%), 10,363.58
Euronext 100: Up (+0.03%), 1,927.40
DAX: Up (+0.04%), 25,035.93
NASDAQ: Closed
S&P 500: Closed
In the Headlines
Leadership Planning – Ocado Group (LSE:OCDO)
Ocado confirmed that its board and chief executive are engaged in ongoing succession planning following market speculation about future leadership arrangements. The update is intended to reassure investors that long-term governance and continuity plans remain in place.
Bid Rejected – easyJet (LSE:EZJ)
easyJet shares rose after the airline rejected a third takeover proposal from Castlelake valued at 625p per share. The board said the offer significantly undervalued the business, highlighting confidence in the company’s strategy and future prospects.
Currencies (vs GBP)
USD: Down (-0.02%), $1.3208
CHF: Up (+0.01%), Fr.1.0673
EUR: Up (+0.03%), €1.1523
JPY: Up (+0.01%), ¥213.22
AUD: Down (-0.03%), $1.8861
Bitcoin (BTC/GBP): Up, £47,898.58
Commodities
Copper: Up
Gold: Down
Brent Crude: Up
Natural Gas: Up
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