FTSE 100 steadies while European markets weaken. Telecom Plus cuts outlook, Bunzl upgrades guidance, and Brent crude edges lower.
Market Overview
UK markets opened mixed, with the FTSE 100 marginally higher at 10,438.24 from the previous close. Across Europe, sentiment weakened as the Euronext 100 fell 0.55 per cent and Germany’s DAX declined 1.26 per cent at the open. In the United States, the Nasdaq closed lower at 26,166.60 and the S&P 500 ended at 7,472.79. Investors continued to assess political uncertainty following Sir Keir Starmer’s resignation, alongside concerns that interest rates could remain higher for longer despite easing geopolitical tensions around Iran.
In commodities, gold traded higher while copper edged lower. Brent crude eased slightly as markets monitored reports surrounding Iranian oil exports, while natural gas was modestly firmer. Against sterling, the US dollar, euro, Swiss franc and Japanese yen strengthened, while the Australian dollar weakened. Bitcoin was lower versus the pound.
Market Numbers
FTSE 100: Up (+0.00%), 10,438.24
Euronext 100: Down (-0.55%), 1,915.26
DAX: Down (-1.26%), 24,835.56
NASDAQ: Down, 26,166.60
S&P 500: Down, 7,472.79
In the Headlines
Profit Warning – Telecom Plus (LSE:TEP)
Telecom Plus warned that FY27 profit is expected to be lower than previously anticipated and announced a dividend reduction despite reporting record FY26 results. The update prompted a sharp share price reaction as investors reassessed earnings expectations and cash returns.
Outlook Upgrade – Bunzl (LSE:BNZL)
Bunzl raised its outlook after benefiting from inflation-linked pricing and stronger sales volumes across key markets. The improved guidance suggests resilient demand conditions and provided support for the company’s shares.
Currencies (vs GBP)
USD: Down (-0.00%), $1.3246
CHF: Down (-0.00%), Fr.1.0715
EUR: Down (-0.00%), €1.1593
JPY: Down (-0.01%), ¥214.0215
AUD: Up (+0.01%), $1.8941
Bitcoin (BTC/GBP): Down £47,484.91
Commodities
Copper: Down
Gold: Up
Brent Crude: Down
Natural Gas: Up
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