FTSE 100 edges higher as Wizz Air and Persimmon lead company news, while Brent crude declines and European markets remain near record highs.
Market Overview
The FTSE 100 opened marginally higher after gaining 0.01 per cent from the previous close, while the Euronext 100 added 0.04 per cent and Germany’s DAX rose 0.21 per cent at the open. Overnight, the Nasdaq closed lower at 26,363.44 and the S&P 500 finished lower at 7,723.55 as technology shares remained under pressure. European sentiment remained supported by corporate earnings and optimism surrounding progress on a Hormuz shipping agreement despite weaker US technology performance and continued focus on company results.
Commodity markets reflected a softer risk backdrop, with copper and natural gas edging higher while gold and Brent crude moved lower. Bitcoin rose against sterling. Sterling strengthened modestly against the US dollar and euro, while remaining broadly unchanged against the Swiss franc and Japanese yen, as lower oil prices and easing geopolitical concerns continued to influence broader market sentiment.
Market Numbers
FTSE 100: Up (+0.01%), 10,888.45
Euronext 100: Up (+0.04%), 1,958.56
DAX: Up (+0.21%), 26,182.21
NASDAQ: Down, 26,363.44
S&P 500: Down, 7,723.55
In the Headlines
Capacity growth – Wizz Air (LSE:WIZZ)
Wizz Air expanded passenger capacity and traffic during the first quarter despite reporting a wider loss as higher fuel costs and pricing pressure weighed on earnings. The results underline continued demand growth but highlight the profitability challenges facing European airlines.
Housing demand – Persimmon (LSE:PSN)
Persimmon reported higher first-half earnings as home completions increased and operational performance improved. The update reinforces signs of a stabilising UK housing market and supports expectations for continued growth in deliveries.
Currencies (vs GBP)
USD: Up (+0.10%), $1.3470
CHF: Down (-0.01%), Fr.1.0866
EUR: Up (+0.04%), €1.1655
JPY: Up (+0.03%), ¥212.298
AUD: Down (-0.01%), $1.9086
Bitcoin (BTC/GBP): Up, £48,157.45
Commodities
Copper: Up
Gold: Down
Brent Crude: Down
Natural Gas: Up
Leave a Reply