FTSE 100 retreats after a flat open as HSBC revenue misses forecasts and Shoe Zone sales decline. Brent crude falls amid Iran diplomatic efforts.
Market Overview
The FTSE 100 opened marginally higher at 10,767.81, up 0.0045 per cent from its previous close, before falling to 10,655.50 as HSBC shares came under pressure following the bank’s third-quarter results. Investors also remained cautious ahead of the UK Budget and Federal Reserve policy decisions. European markets declined, with the Euronext 100 opening 0.03 per cent lower at 1,856.73 before slipping to 1,852.59, while Germany’s DAX fell 0.10 per cent to 25,384.78. Wall Street closed higher overnight, with the Nasdaq Composite advancing to 26,169.38 and the S&P 500 rising to 7,676.77, supported by technology shares.
Commodity markets were mixed, with copper and gold advancing while Brent crude and natural gas declined. Oil prices remained under pressure as diplomatic efforts involving Iran eased concerns about potential supply disruptions. Bitcoin weakened against sterling. In currency markets, the pound strengthened against the US dollar, Swiss franc and Australian dollar, while gaining against the Japanese yen and remaining unchanged against the euro. Investors continued to assess monetary policy expectations, geopolitical developments and corporate earnings.
Market Numbers
FTSE 100: Up (+0.0045%), 10,767.81
Euronext 100: Down (-0.03%), 1,856.73
DAX: Down (-0.10%), 25,384.78
NASDAQ: Up, 26,169.38
S&P 500: Up, 7,676.77
In the Headlines
Profit Rises, Revenue Misses – HSBC Holdings (LSE:HSBA)
HSBC reported a 32 per cent increase in third-quarter pretax profit to $9.6 billion, broadly in line with expectations, while revenue rose 5 per cent to $18.6 billion but fell short of forecasts. The banking group also announced a share buyback of up to $1 billion, although slower growth in its wealth business and the revenue shortfall weighed on investor sentiment.
Revenue Declines, Loss Reported – Shoe Zone (LSE:SHOE)
Footwear retailer Shoe Zone reported a 4.5 per cent decline in full-year revenue to £142.4 million and an adjusted loss of £1 million for FY2026. The results highlight continued trading pressures facing the retailer, bringing profitability and cost management into focus.
Currencies (vs GBP)
USD: Down (-0.16%), $1.3324
CHF: Down (-0.09%), Fr.1.1036
EUR: Unchanged (0.00%), €1.1943
JPY: Down (-0.02%), ¥210.205
AUD: Down (-0.17%), $1.8979
Bitcoin (BTC/GBP): Down (-0.30%), £59,789.00
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Down
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