FTSE 100 edges higher as Kingfisher upgrades guidance and Mortgage Advice Bureau reports revenue growth. Brent crude rises while gold falls.
Market Overview
The FTSE 100 opened 0.05 per cent higher at 10,744.28, as investors assessed UK borrowing figures and mounting pressure ahead of the Budget. In Europe, the Euronext 100 edged up 0.02 per cent to 1,898.92, while Germany’s DAX declined 0.17 per cent to 25,532.33. On Wall Street, the Nasdaq closed higher at 27,122.09, while the S&P 500 advanced to 7,764.70. European markets remained mixed as investors monitored diplomatic developments at the United Nations and their implications for energy markets.
Commodity markets showed mixed performance, with copper and Brent crude advancing, while gold declined and natural gas edged higher. Oil markets remained focused on potential US-Iran talks and Saudi supply flows, amid uncertainty surrounding Middle East developments. Bitcoin weakened against sterling. In currency markets, the US dollar and euro strengthened against the pound, while the Swiss franc, Japanese yen and Australian dollar declined.
Market Numbers
FTSE 100: Higher (+0.05%), 10,744.28
Euronext 100: Higher (+0.02%), 1,898.92
DAX: Lower (-0.17%), 25,532.33
NASDAQ: Higher, 27,122.09
S&P 500: Higher, 7,764.70
In the Headlines
Profit Growth and Guidance Upgrade – Kingfisher (LSE:KGF)
Home improvement retailer Kingfisher reported a 9.9 per cent increase in first-half adjusted pre-tax profit to £404 million, supported by improved gross margins, higher customer transactions and cost control. The group upgraded its full-year profit and free cash flow guidance, providing investors with an improved outlook for the remainder of the financial year.
Revenue Growth – Mortgage Advice Bureau (LSE:MAB1)
Mortgage Advice Bureau reported an 8.6 per cent increase in first-half revenue to £161 million, with mortgage completions reaching £16.5 billion. The results highlight growth in the group’s mortgage distribution activities as investors assess conditions in the UK housing and lending markets.
Currencies (vs GBP)
USD: Higher (+0.01%), $1.337
CHF: Lower (-0.04%), Fr.1.0971
EUR: Higher (+0.03%), €1.1666
JPY: Lower (-0.25%), ¥210.89
AUD: Lower (-0.01%), $1.8797
Bitcoin (BTC/GBP): Lower, £63,748.81
Commodities
Copper: Higher
Gold: Lower
Brent Crude: Higher
Natural Gas: Higher
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