FTSE 100 rises as BP flags impairments and Whitbread reports lower profit. European markets are mixed, while Brent crude and gold decline.
Market Overview
The FTSE 100 opened higher on Tuesday, rising 0.86 per cent to 10,748.00, with commodity-related stocks providing support despite broader concerns over global technology shares. European markets were mixed, with the Euronext 100 slipping 0.13 per cent to 1,864.14, while Germany’s DAX gained 0.30 per cent to 25,353.91. On Wall Street, the Nasdaq closed lower at 27,245.90, while the S&P 500 declined to 7,807.24, reflecting continued pressure on technology stocks. European investors are also monitoring the start of the US bank earnings season.
Commodity markets showed mixed performance, with copper advancing while gold and natural gas declined. Brent crude edged lower as prospects for additional Russian diesel supplies counterbalanced concerns about disruptions to Middle Eastern energy exports. Bitcoin strengthened against sterling, while the pound weakened against the US dollar, Swiss franc and Australian dollar but strengthened against the euro and Japanese yen. Energy supply uncertainty and corporate earnings remain important influences on market sentiment.
Market Numbers
FTSE 100: Up (+0.86%), 10,748.00
Euronext 100: Down (-0.13%), 1,864.14
DAX: Up (+0.30%), 25,353.91
NASDAQ: Down, 27,245.90
S&P 500: Down, 7,807.24
In the Headlines
Q3 Impairments and Debt Reduction – BP (LSE:BP.)
Energy major BP expects third-quarter post-tax impairment charges of between $3.0 billion and $4.5 billion, primarily affecting its gas and low-carbon businesses. Net debt is expected to fall to between $13.5 billion and $14.5 billion from $22.3 billion at the end of June, with the reduction providing an important balance sheet development ahead of its quarterly results.
First-Half Profit Decline – Whitbread (LSE:WTB)
Hotel operator Whitbread reported a decline in first-half FY27 statutory profit as it continued expanding its Premier Inn business and implementing cost-saving measures. Investors are assessing the impact of its expansion strategy and operating efficiencies on future profitability.
Currencies (vs GBP)
USD: Up (+0.18%), $1.3234
CHF: Up (+0.05%), Fr.1.1024
EUR: Down (-0.11%), €1.1824
JPY: Down (-0.04%), ¥209.3315
AUD: Up (+0.01%), $1.8993
Bitcoin (BTC/GBP): Up, £63,307.00
Commodities
Copper: Up
Gold: Down
Brent Crude: Down
Natural Gas: Down
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