FTSE 100 edges lower as BT and Verizon unveil a global venture, Smiths News secures a major contract and Brent crude remains in focus.
Market Overview
UK markets opened little changed, with the FTSE 100 easing marginally after the previous session, while European trading was mixed. The FTSE 100 slipped 0.00 per cent to 10,507.83, the Euronext 100 gained 0.06 per cent to 1,898.60 and Germany’s DAX advanced 0.17 per cent to 24,724.34. Overnight, the Nasdaq closed lower at 25,297.62 and the S&P 500 finished slightly down at 7,354.02. Investors continued to monitor developments in the Middle East alongside corporate news including BT’s strategic partnership with Verizon.
Commodity markets reflected ongoing geopolitical caution. Brent crude edged higher as traders assessed renewed US-Iran tensions and developments involving Qatar, while copper softened and gold was little changed. Against sterling, the US dollar strengthened slightly, while the euro and Swiss franc were broadly steady and the Japanese yen weakened. Bitcoin traded slightly higher versus the pound.
Market Numbers
FTSE 100: Down, 10,507.83
Euronext 100: Up (+0.06%), 1,898.60
DAX: Up (+0.17%), 24,724.34
NASDAQ: Down, 25,297.62
S&P 500: Down, 7,354.02
In the Headlines
Global telecoms venture – BT Group (LSE:BT.A)
BT and Verizon will combine their international enterprise businesses into a 50:50 joint venture with around $4 billion in annual revenue. The deal is intended to strengthen global connectivity services for multinational customers while allowing both companies to focus more closely on their domestic markets.
Distribution contract – Smiths News (LSE:SNWS)
Smiths News has secured a long-term agreement to continue distributing Associated Newspapers titles. The contract provides greater revenue visibility and reinforces the company’s position within the UK newspaper distribution market.
Currencies (vs GBP)
USD: Down (-0.01%), $1.3197
CHF: Down (-0.01%), Fr.1.0690
EUR: Up (+0.00%), €1.1591
JPY: Up (+0.01%), ¥213.511
AUD: Up (+0.01%), $1.9136
Bitcoin (BTC/GBP): Up (-0.33%), £45,361.59
Commodities
Copper: Down
Gold: Down
Brent Crude: Down
Natural Gas: Down
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