FTSE 100 slips as Tesco reports higher profit and Imperial Brands announces a £1.5bn buyback. Brent crude rises amid Middle East supply concerns.
Market Overview
The FTSE 100 opened 0.04 per cent lower at 10,396.56, with mining stocks weighing on UK equities amid renewed concerns over Middle Eastern oil supplies. European markets also weakened, with the Euronext 100 down 1.09 per cent at 1,836.10 and Germany’s DAX falling 0.82 per cent to 24,897.86, as French debt concerns and wider financial market uncertainty affected sentiment. On Wall Street, the Nasdaq closed lower at 27,538.69, while the S&P 500 declined to 7,801.77.
Commodity markets showed mixed movements, with copper and gold declining while Brent crude and natural gas advanced. Oil supply concerns remained in focus following attacks on shipping in the Middle East, supporting energy prices. Against sterling, the US dollar, Swiss franc and Japanese yen strengthened, while the euro and Australian dollar weakened. Bitcoin also moved lower, reflecting a cautious tone across risk-sensitive assets.
Market Numbers
FTSE 100: Down (0.04%), 10,396.56
Euronext 100: Down (1.09%), 1,836.10
DAX: Down (0.82%), 24,897.86
NASDAQ: Down, 27,538.69
S&P 500: Down, 7,801.77
In the Headlines
Profit Growth and Buyback Increase – Tesco (LSE:TSCO)
Tesco reported a 6.3 per cent increase in first-half adjusted operating profit to £1.78 billion and raised its share buyback target. The performance highlights continued profitability at the UK supermarket group, with increased capital returns providing an additional focus for shareholders.
Full-Year Outlook Confirmed – Imperial Brands (LSE:IMB)
Imperial Brands reaffirmed its financial outlook for 2026 and announced a £1.5 billion share buyback programme for 2027. The announcement provides investors with greater visibility over planned shareholder returns as the tobacco group maintains its existing financial expectations.
Currencies (vs GBP)
USD: Up (0.06%), $1.3199
CHF: Up (0.05%), Fr.1.1001
EUR: Down (0.05%), €1.1793
JPY: Up (0.03%), ¥208.836
AUD: Down (0.01%), $1.8986
Bitcoin (BTC/GBP): Unchanged, £62,986.14
Commodities
Copper: Down
Gold: Down
Brent Crude: Up
Natural Gas: Up
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