FTSE 100 steadies as AstraZeneca weighs on the index, European shares rise, and Brent crude falls amid renewed US-Iran diplomatic talks.
Market Overview
The FTSE 100 opened broadly unchanged at 10,868.09, while the Euronext 100 edged lower by 0.01 per cent. Germany’s DAX opened 1.13 per cent higher. Overnight in the United States, the Nasdaq closed higher at 25,373.85 and the S&P 500 gained to 7,489.72. European markets found support as falling oil prices and renewed US-Iran diplomatic discussions improved sentiment, although the FTSE lagged as weakness in energy shares and AstraZeneca weighed on the index.
Oil markets remained under pressure after reports that planned US action against Iran was shelved in favour of fresh talks, reducing supply concerns and weighing on Brent crude. Copper strengthened, gold moved higher and natural gas also advanced. Against sterling, the US dollar, euro and Australian dollar edged firmer, while the Swiss franc and Japanese yen weakened slightly. Bitcoin was down.
Market Numbers
FTSE 100: Up (+0.001%), 10,868.09
Euronext 100: Down (-0.01%), 1,925.52
DAX: Up (+1.13%), 25,917.59
NASDAQ: Up, 25,373.85
S&P 500: Up, 7,489.72
In the Headlines
Merger Report – AstraZeneca (LSE:AZN)
AstraZeneca shares fell after reports that the company had held merger discussions with Bristol Myers Squibb. While no agreement has been reached, the prospect of a deal involving two of the world’s largest pharmaceutical companies drew significant market attention and weighed on the FTSE 100.
Takeover Process – easyJet (LSE:EZJ)
easyJet has been granted an extension to the takeover timetable as Apollo Global Management and Castlelake continue acquisition discussions. The additional time allows negotiations to continue while investors await further developments on any potential offer.
Currencies (vs GBP)
USD: Up (+0.01%), $1.3491
CHF: Down (-0.08%), Fr.1.0888
EUR: Up (+0.01%), €1.1688
JPY: Down (-0.03%), ¥212.6065
AUD: Up (+0.02%), $1.9148
Bitcoin (BTC/GBP): Down, £46,474.91
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Up
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