FTSE opens flat as bond and Middle East risks weigh, while Alien Metals secures exploration funding and Brent crude moves higher.
Market Overview
The FTSE 100 opened broadly unchanged at 10,824.60, as London markets returned from the bank holiday amid pressure from a global bond sell-off and renewed Middle East tensions. The Euronext 100 gained 0.06 per cent to 1,916.51, while Germany’s DAX fell 0.29 per cent to 26,181.16. In the US, the Nasdaq closed lower at 26,370.89 and the S&P 500 declined to 7,686.14. Higher borrowing costs and renewed geopolitical concerns weighed on broader risk appetite.
Commodity markets reflected renewed concerns over Middle East supply disruption, with Brent crude moving higher alongside copper, gold and natural gas. Bitcoin was unchanged against sterling. The US dollar, Swiss franc, euro and Japanese yen weakened marginally versus the pound, while the Australian dollar strengthened slightly. Oil markets remained focused on renewed US-Iran fighting and risks to shipping through the Strait of Hormuz.
Market Numbers
FTSE 100: Up (0.001%), 10,824.60
Euronext 100: Up (0.06%), 1,916.51
DAX: Down (-0.29%), 26,181.16
NASDAQ: Down, 26,370.89
S&P 500: Down, 7,686.14
In the Headlines
Exploration funding – Alien Metals (LSE:UFO)
Alien Metals’ joint venture partner West Coast Silver has secured commitments to raise A$6 million for further exploration at the Elizabeth Hill Silver Project. The funding supports additional drilling and technical work while Alien retains its 30% free-carried project interest and equity exposure to West Coast Silver.
New U.S. partner – Futura Medical (LSE:FUM)
Futura Medical reported first-half revenue of £1.62 million and appointed Market Performance Group as its new U.S. commercial partner for Eroxon. The consumer healthcare company is reshaping its U.S. commercial strategy while seeking further funding and partnerships to support its operations and product pipeline.
Currencies (vs GBP)
USD: Down (-0.01%), $1.3549
CHF: Down (0.00%), Fr.1.0952
EUR: Down (0.00%), €1.1662
JPY: Down (0.00%), ¥216.443
AUD: Up (0.00%), $1.8894
Bitcoin (BTC/GBP): Unchanged, £58,067.58
Commodities
Copper: Up
Gold: Up
Brent Crude: Up
Natural Gas: Up
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