European markets advanced while the FTSE 100 slipped as National Grid unveiled a £70bn plan and Brent crude moved higher.
Market Overview
European markets traded higher in early dealing, with the DAX rising 0.76 per cent and the CAC40 up 0.35 per cent, while the FTSE 100 slipped 0.26 per cent. In the US, the Nasdaq and S&P 500 both edged higher after a mixed Wall Street session. Investor sentiment remained focused on inflation risks, political uncertainty in Europe and ongoing central bank caution, while UK banking reforms and corporate investment announcements added to the market narrative.
Commodity markets reflected continued supply concerns, with Brent crude and natural gas both moving higher amid reports of rapidly declining oil inventories. Copper weakened, pointing to softer industrial demand expectations, while gold eased slightly. Sterling was weaker against the euro, US dollar, Japanese yen and Swiss franc, though it edged firmer versus the Australian dollar. Bitcoin gained against sterling as risk appetite remained supported.
Market Numbers
FTSE 100: Down (-0.26%), 10,324.45
CAC40: Up (0.35%), 8,007.970
DAX: Up (0.76%), 24,136.81
NASDAQ: Up (0.07%), 29,504.3
S&P 500: Up (0.14%), 7,462.6
In the Headlines
World Cup advertising hopes – ITV (LSE:ITV)
ITV said it expects the FIFA World Cup to provide a boost to advertising revenues later this year while confirming it remains in active discussions over a potential Sky TV partnership. Investors are monitoring the talks closely as the broadcaster looks to strengthen its long-term streaming and distribution position.
Major infrastructure spending – National Grid (LSE:NG.)
National Grid unveiled plans to invest at least £70 billion over five years as it accelerates electricity network upgrades and energy transition projects. The programme highlights the scale of UK infrastructure spending required to support renewable energy expansion and grid resilience.
Currencies (vs GBP)
USD: Down (-0.04%), $1.3515
CHF: Down (-0.07%), Fr.1.05666
EUR: Down (-0.03%), €1.1535
JPY: Down (-0.07%), ¥213.382
AUD: Up (0.05%), $1.862670
Bitcoin (BTC/GBP): Up (0.79%), £59,087.3
Commodities
Copper: Down (-1.07%), 6.6033
Gold: Down (-0.45%), 4,698.00
Brent Crude: Up (0.27%), 103.975
Natural Gas: Up (0.53%), 3.0365
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