UK markets open flat as metals rally offsets weak retail sales; Hunting cuts EBITDA guidance, eEnergy secures funding, Bitcoin surges vs GBP.
Market Overview
UK and European markets opened little changed on Friday, with the FTSE 100 and Euronext 100 both essentially flat and the DAX modestly firmer, following a weaker session on Wall Street overnight where the Nasdaq closed down 1.00 per cent and the S&P 500 fell 0.87 per cent. A rally in precious and industrial metals has helped support London-listed miners even as fresh UK retail sales data pointed to softer consumer spending. Sentiment across European equities remains cautious after a difficult week for the region, with escalating US sanctions rhetoric on Iran keeping energy markets on edge, a bout of global bond market volatility earlier in the week, and hawkish signals from both the Federal Reserve and the European Central Bank over the inflation outlook.
Commodities were mixed at the open, with copper firmer while gold was little changed. Brent crude and natural gas both eased back slightly. Bitcoin moved sharply higher against sterling, extending a strong run for the cryptocurrency. Sterling was mixed against major peers, edging marginally higher against the US dollar but softer against the yen, the euro and the Swiss franc, and little changed against the Australian dollar. Broader macro attention remains fixed on the standoff over Iran sanctions and its implications for oil supply, alongside central bank commentary suggesting interest rates could stay higher for longer.
Market Numbers
FTSE 100: Down (-0.001%), 10,748.07
Euronext 100: Up (+0.001%), 1,933.58
DAX: Up (+0.061%), 25,998.95
NASDAQ: Down (-1.00%), 26,067.17
S&P 500: Down (-0.87%), 7,641.16
In the Headlines
Guidance cut – Hunting PLC (LSE:HTG)
Hunting lowered its 2026 EBITDA guidance after a Kuwait Oil Company tender re-run was delayed, a setback expected to reduce next year’s earnings by around 10 million dollars. The news follows a weaker first half for the oilfield services group, though management raised the interim dividend, signalling confidence in the longer-term outlook.
Funding secured – eEnergy Group plc (LSE:EAAS)
eEnergy Group arranged two loan facilities totalling 1 million pounds to bridge a working capital shortfall after roughly 3.2 million pounds of payments from its Mace solar projects were delayed by incomplete documentation. The funding addresses a near-term cash-flow gap while the company awaits the outstanding payments.
Currencies (vs GBP)
USD: Up (+0.004%), $1.3643
CHF: Down (-0.008%), Fr.1.0909
EUR: Down (-0.002%), €1.1673
JPY: Down (-0.020%), ¥216.756
AUD: Flat (0.000%), $1.9164
Bitcoin (BTC/GBP): Up £55,956.99
Commodities
Copper: Up
Gold: Flat
Brent Crude: Down
Natural Gas: Down
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