FTSE 100 opens steady as oil prices temper softer UK inflation. Fresnillo maintains guidance while Reach strengthens cash flow despite lower revenue.
Market Overview
The FTSE 100 opened broadly flat, while the Euronext 100 edged lower and Germany’s DAX moved slightly higher at the start of trading. Overnight, US markets finished stronger, with the Nasdaq and S&P 500 both posting gains. Sentiment remained cautious as softer UK inflation was offset by firmer oil prices, while European investors monitored renewed Houthi shipping attacks and ongoing Middle East tensions ahead of US technology guidance.
Commodity markets continued to reflect geopolitical risks, with copper and natural gas strengthening, while gold and Brent crude eased slightly from the previous close. Bitcoin was down against sterling. Currency moves versus the pound were subdued, with sterling marginally firmer against the US dollar and euro but little changed against the Swiss franc, Japanese yen and Australian dollar.
Market Numbers
FTSE 100: Down (-0.001%), 10,585.87
Euronext 100: Down (-0.02%), 1,920.00
DAX: Up (+0.05%), 25,022.61
NASDAQ: Up, 25,837.21
S&P 500: Up, 7,509.20
In the Headlines
Silver production – Fresnillo (LSE:FRES)
Fresnillo maintained its 2026 production guidance after delivering a steady second quarter across its precious metals operations. The update supports expectations for full-year output despite ongoing operational challenges.
Cash generation – Reach (LSE:RCH)
Reach reported lower first-half revenue but preserved operating margins through cost reductions while strengthening cash generation. Improved cash conversion and lower leverage reinforce the publisher’s financial resilience despite continued pressure on print and digital revenues.
Currencies (vs GBP)
USD: Up (+0.01%), $1.3379
CHF: Down (-0.00%), Fr.1.0872
EUR: Up (+0.00%), €1.1733
JPY: Down (-0.00%), ¥218.3294
AUD: Down (-0.00%), $1.9111
Bitcoin (BTC/GBP): Down, £49,165.78
Commodities
Copper: Up
Gold: Down
Brent Crude: Down
Natural Gas: Up
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