Markets opened steady as easyJet backed Castlelake’s takeover terms and ITV agreed a £1.6bn Sky deal, while Brent crude edged lower.
Market Overview
UK markets opened little changed, with the FTSE 100 broadly flat, while the Euronext 100 and Germany’s DAX edged higher. Investors continued to monitor developments surrounding Ukraine and Iran alongside expectations for upcoming Federal Reserve minutes and comments from central bank policymakers. European equities remained close to record levels despite a cautious tone. Oil prices softened after OPEC+ agreed to raise output targets. US markets were closed on Friday for the Independence Day holiday.
In commodities, copper strengthened while gold, Brent crude and natural gas all edged lower. Bitcoin fell against sterling. Currency markets were broadly steady, with sterling little changed against the US dollar, euro, Swiss franc, Japanese yen and Australian dollar.
Market Numbers
FTSE 100: Up (0.00%), 10,679.38
Euronext 100: Up (0.03%), 1,939.03
DAX: Up (0.13%), 25,811.91
In the Headlines
Takeover Terms – easyJet (LSE:EZJ)
easyJet has agreed in principle to support a recommended £6.90-per-share takeover proposal from Castlelake, subject to due diligence and final documentation. The agreement represents a significant step towards a potential acquisition, although no firm offer has yet been made.
Strategic Restructure – ITV (LSE:ITV)
ITV has agreed to sell its Media business to Sky in a transaction valued at up to £1.6 billion, allowing ITV Studios to operate as a standalone global content company. The deal reshapes the UK broadcasting landscape while enabling ITV to focus on content production and return capital to shareholders.
Currencies (vs GBP)
USD: Unchanged (0.00%), $1.3353
CHF: Unchanged (0.00%), Fr.1.0733
EUR: Unchanged (0.00%), €1.1675
JPY: Unchanged (0.00%), ¥215.5955
AUD: Up (0.02%), $1.9249
Bitcoin (BTC/GBP): Down, £47,218.88
Commodities
Copper: Up
Gold: Down
Brent Crude: Down
Natural Gas: Down
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