FTSE 100 steady at the open as Lloyds beats profit forecasts with a new 2030 plan and LSEG shares slip despite raised guidance, amid US-Iran tensions.
Market Overview
European and US equity markets opened on a cautious footing on Thursday, with the FTSE 100 easing marginally to 10,907.37, down 0.01 per cent, and the Euronext 100 slipping to 1,899.63, also down 0.01 per cent, both broadly flat after Wednesday’s session. Germany’s DAX was down 0.19 per cent at 25,411.24 shortly after the Frankfurt open. Wall Street set a weaker overnight tone, with the Nasdaq Composite closing down 1.74 per cent at 24,442.94 and the S&P 500 down 1.52 per cent at 7,316.15, as investors weighed the escalating conflict between the United States and Iran following fresh US strikes, and awaited the Bank of England’s latest interest rate decision.
Among commodities, copper and natural gas edged higher while gold and Brent Crude eased back, even as Middle East tensions continue to underpin energy prices. Bitcoin was firmer against sterling. Sterling itself was broadly steady, edging higher against the US dollar, Australian dollar and euro while easing slightly against the yen and Swiss franc, leaving the currency largely rangebound as markets braced for the Bank of England’s rate call.
Market Numbers
FTSE 100: Down (-0.01 per cent), 10,907.37
Euronext 100: Down (-0.01 per cent), 1,899.63
DAX: Down (-0.19 per cent), 25,411.24
NASDAQ: Down (-1.74 per cent), 24,442.94
S&P 500: Down (-1.52 per cent), 7,316.15
In the Headlines
Profit beat, new 2030 plan – Lloyds Banking Group (LSE:LLOY)
Lloyds Banking Group posted a second-quarter profit of £2.3 billion, ahead of analyst forecasts, and unveiled an “Accelerate 2030” strategy targeting a 20 per cent return on tangible equity alongside a new £1 billion share buyback. The results and growth plan reassure investors on the health of the UK banking sector ahead of this week’s Bank of England rate decision.
Shares slip despite guidance raise – London Stock Exchange Group (LSE:LSEG)
London Stock Exchange Group beat first-half earnings expectations and raised its full-year revenue guidance, yet its shares slipped as investors focused on the long-dated timeline of its round-the-clock trading initiative. The move highlights how execution timing, rather than headline earnings, is currently driving sentiment towards UK financial services stocks.
Currencies (vs GBP)
USD: Up (0.00 per cent), $1.3368
CHF: Down (0.00 per cent), Fr.1.0873
EUR: Up (0.01 per cent), €1.1658
JPY: Down (-0.02 per cent), ¥218.2905
AUD: Up (0.00 per cent), $1.9207
Bitcoin (BTC/GBP): Up, (0.30 per cent), £47,956.56
Commodities
Copper: Up
Gold: Down
Brent Crude: Down
Natural Gas: Up
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