Market Overview
UK and European markets were little changed in early trade on Friday, with the FTSE 100 opening at 10,772.54, fractionally below Thursday’s close, while the Euronext 100 edged up to 1,975.08 and Germany’s DAX advanced to 26,445.99 at the open. Wall Street had closed higher overnight, with the Nasdaq Composite ending at 26,803.03, up 0.81 per cent, and the S&P 500 finishing at 7,798.99, up 0.65 per cent, as investors weighed easing US inflation pressure against renewed tension in the Gulf. Flat US producer price data reduced expectations of further Federal Reserve tightening, while attacks on tankers in the Strait of Hormuz and a US threat of an indefinite naval blockade of Iran kept energy markets alert to supply risk.
Commodity markets reflected the same Gulf-driven caution, with Brent crude and natural gas both firmer at the open and gold ticking higher as a safe-haven hedge, while copper eased alongside broader softness in base metals. Bitcoin retreated against sterling to £46,599.41, down 1.58 per cent, as risk appetite cooled. Currency moves were modest, with sterling little changed against the dollar, euro, Swiss franc, yen and Australian dollar overnight, leaving the pound broadly steady ahead of further inflation data and developments in the Middle East.
Market Numbers
FTSE 100: Down (-0.001%), 10,772.54
Euronext 100: Up (+0.007%), 1,975.08
DAX: Up (+0.56%), 26,445.99
NASDAQ: Up (+0.81%), 26,803.03
S&P 500: Up (+0.65%), 7,798.99
In the Headlines
Profit Jump – Aviva plc (LSE:AV.)
Aviva’s first-half operating profit rose 24 per cent to £1.33 billion, driven by strong growth in general insurance and continued integration of Direct Line, with cash remittances up 47 per cent to £1.50 billion. The results reinforce confidence in the group’s 2028 targets and underline robust demand across UK personal lines.
Cygnus Timetable – Central Asia Metals plc (LSE:CAML)
Central Asia Metals has set out the timetable for its proposed all-share acquisition of ASX-listed Cygnus Metals, with a shareholder vote due on 4 September and completion expected in early October. The deal would add further development and exploration assets to CAML’s existing Kazakhstan and North Macedonia operations, broadening its base metals portfolio.
Currencies (vs GBP)
USD: Up (+0.00%), $1.349
CHF: Up (+0.00%), Fr.1.0983
EUR: Down (-0.02%), €1.1696
JPY: Down (-0.00%), ¥215.0815
AUD: Up (+0.00%), $1.9098
Bitcoin (BTC/GBP): Down (-1.58%), £46,599.41
Commodities
Copper: Down
Gold: Up
Brent Crude: Up
Natural Gas: Up
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