FTSE 100 opens flat as Volex raises its profit outlook, Gulf Keystone remains resilient and Brent crude edges higher amid Iran focus.
Market Overview
The FTSE 100 opened broadly unchanged, at 10,854.57, while the Euronext 100 gained 0.03 per cent and Germany’s DAX rose 0.23 per cent. European equities found support as concerns over the immediate impact of expanded US sanctions against Iran eased. Overnight in the US, the Nasdaq closed lower at 25,980.19 and the S&P 500 declined to 7,652.86.
Commodity markets were mixed, with copper lower while gold, Brent crude and natural gas edged higher. Bitcoin rose against sterling. The US dollar was unchanged versus the pound, while the Swiss franc, euro and Japanese yen weakened marginally and the Australian dollar strengthened slightly. Oil markets remained focused on Iran and the Strait of Hormuz, although investors viewed the latest US economic pressure as posing less immediate risk to physical supply.
Market Numbers
FTSE 100: Up (0.001%), 10,854.57
Euronext 100: Up (0.03%), 1,933.47
DAX: Up (0.23%), 26,167.89
NASDAQ: Down, 25,980.19
S&P 500: Down, 7,652.86
In the Headlines
Production resilience – Gulf Keystone Petroleum (LSE:GKP)
The Kurdistan-focused oil and gas producer maintained financial resilience despite production disruption at its Shaikan Field, with operations subsequently resuming and output recovering. The company also declared a further interim dividend, highlighting its liquidity and ability to support shareholder returns.
Profit outlook raised – Volex (LSE:VLX)
The specialist power and data transmission manufacturer raised its FY2027 profit expectations after strong trading across its end-markets, led by demand from data centre customers. Improved operating leverage means the board now expects underlying operating profit to exceed current market expectations.
Currencies (vs GBP)
USD: Unchanged (0.00%), $1.3638
CHF: Down (0.00%), Fr.1.0941
EUR: Down (0.01%), €1.1688
JPY: Down (0.01%), ¥217.014
AUD: Up (0.00%), $1.9062
Bitcoin (BTC/GBP): Up, £58.681.23
Commodities
Copper: Down
Gold: Up
Brent Crude: Up
Natural Gas: Up
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