FTSE 100 edges higher as Made Tech raises guidance, Great Western starts drilling and Middle East risks keep energy markets in focus.
Market Overview
The FTSE 100 opened 0.01 per cent higher at 10,720.85, with energy shares providing support as investors continued to assess risks surrounding the Strait of Hormuz. The Euronext 100 edged 0.01 per cent higher to 1,971.09, while Germany’s DAX fell 0.40 per cent to 26,233.55 as geopolitical concerns weighed on European sentiment. Overnight in the US, the Nasdaq closed lower at 26,644.91 and the S&P 500 declined to 7,745.06.
Geopolitical risk remained the dominant macro theme as fading hopes for progress between the US and Iran kept energy supply concerns in focus. Against sterling, the US dollar, Swiss franc, euro and Japanese yen weakened marginally, while the Australian dollar strengthened and Bitcoin rose slightly. Copper and gold moved lower, natural gas gained, while Brent crude edged down from its previous close despite continuing concerns over Middle East supply.
Market Numbers
FTSE 100: Up (+0.01%), 10,720.85
Euronext 100: Up (+0.01%), 1,971.09
DAX: Down (-0.40%), 26,233.55
NASDAQ: Down, 26,644.91
S&P 500: Down, 7,745.06
In the Headlines
Guidance Raised – Made Tech Group (LSE:MTEC)
Government technology specialist Made Tech raised its FY27 guidance after securing a record £40 million government contract. The win strengthens its contracted workload and improves expectations for the current financial year.
Major Drilling Programme – Great Western Mining (LSE:GWMO)
Mineral exploration company Great Western Mining has begun a major drilling programme at its Nevada tungsten project. The campaign marks an important step in evaluating the project’s mineral potential and advancing its exploration strategy.
Currencies (vs GBP)
USD: Down (-0.01%), $1.3551
CHF: Down (-0.00%), Fr.1.0985
EUR: Down (-0.00%), €1.1699
JPY: Down (-0.00%), ¥215.915
AUD: Up (+0.00%), $1.9063
Bitcoin (BTC/GBP): Up, £47,448.10
Commodities
Copper: Down
Gold: Down
Brent Crude: Down
Natural Gas: Up
Leave a Reply