UK markets open mixed as Savills and Antofagasta report stronger earnings, while US stocks advance and Brent crude moves lower.
Market Overview
The FTSE 100 opened broadly unchanged at 10,833.58, up less than 0.01 per cent from its previous close, as investors assessed cooling UK economic growth and continuing tensions around the Strait of Hormuz. The Euronext 100 was also effectively flat at 1,973.14, while Germany’s DAX gained 0.34 per cent to 26,421.06. Overnight in the US, the Nasdaq closed higher at 26,588.49 and the S&P 500 advanced to 7,748.50, with an on-target US inflation reading easing concerns over further near-term Federal Reserve tightening.
Commodity markets were mixed, with copper, Brent crude and natural gas moving lower while gold edged higher. Oil sentiment reflected weaker global demand forecasts alongside continuing uncertainty over the Strait of Hormuz. Against sterling, the US dollar weakened marginally, while the Swiss franc, Japanese yen and Australian dollar strengthened slightly and the euro was unchanged. Bitcoin was also up against sterling.
Market Numbers
FTSE 100: Up (+0.001%), 10,833.58
Euronext 100: Up (+0.01%), 1,973.14
DAX: Up (+0.34%), 26,421.06
NASDAQ: Up, 26,588.49
S&P 500: Up, 7,748.50
In the Headlines
Earnings rise – Savills (LSE:SVS)
Global property services group Savills reported stronger first-half earnings as its performance improved and the acquisition of Eastdil Secured expanded its global platform. The transaction strengthens the group’s position across international real estate advisory and capital markets services.
Copper prices lift earnings – Antofagasta (LSE:ANTO)
Copper miner Antofagasta reported an 18 per cent increase in first-half revenue to $4.48 billion and a 27 per cent rise in EBITDA to $2.84 billion, supported by stronger commodity prices and cost discipline. Cash generation improved significantly, although severe weather affected production at Los Pelambres, while the group maintained its full-year copper production guidance.
Currencies (vs GBP)
USD: Down (-0.00%), $1.3498
CHF: Up (+0.01%), Fr.1.0976
EUR: Unchanged (0.00%), €1.1708
JPY: Up (+0.01%), ¥215.0645
AUD: Up (+0.01%), $1.9107
Bitcoin (BTC/GBP): Up (0.00%), £47,342.92
Commodities
Copper: Down
Gold: Up
Brent Crude: Down
Natural Gas: Down
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