FTSE 100 rises as investors assess Iran ceasefire developments. Asda partners with Ocado while Drax expands generation capacity.
Market Overview
Global markets were mixed overnight as investors weighed uncertainty surrounding Iran ceasefire negotiations and broader geopolitical developments. The FTSE 100 rose 0.30 per cent to 10,436.22, while the CAC 40 fell 0.23 per cent and the DAX declined 0.34 per cent. In the US, the Nasdaq edged 0.01 per cent higher and the S&P 500 was broadly flat, reflecting a cautious tone as markets assessed reports of efforts to extend the US-Iran ceasefire and the implications for risk assets.
Commodity markets reflected a balanced risk backdrop. Gold gained as traders monitored inflation pressures and geopolitical developments, while Brent crude eased as concerns over energy supply disruption moderated. Natural gas moved higher and copper softened slightly. Sterling weakened against major currencies including the US dollar, euro, Swiss franc and yen, while Bitcoin advanced against the pound, indicating continued interest in alternative assets.
Market Numbers
FTSE 100: Up (0.30%), 10,436.22
CAC40: Down (-0.23%), 8,188.870
DAX: Down (-0.34%), 25,092.25
NASDAQ: Up (0.01%), 30,225.4
S&P 500: Down (-0.01%), 7,570.3
In the Headlines
Online Expansion – Ocado Group (LSE:OCDO)
Asda has selected Ocado to help develop its online grocery business through the deployment of Ocado’s technology and automation platform. The agreement strengthens Ocado’s position in UK grocery fulfilment while supporting Asda’s efforts to improve its digital offering and operational efficiency.
New Power Capacity – Drax Group (LSE:DRX)
Drax has taken commercial control of its first 299MW open-cycle gas turbine plant at Hirwaun in South Wales. The facility increases the group’s flexible generation capacity and supports grid resilience as the UK continues its energy transition.
Currencies (vs GBP)
USD: Down (-0.15%), $1.3423
CHF: Down (-0.14%), Fr.1.05254
EUR: Down (-0.07%), €1.1525~
JPY: Down (-0.13%), ¥213.811
AUD: Down (-0.03%), $1.874940
Bitcoin (BTC/GBP): Up (0.30%), £54,870.2
Commodities
Copper: Down (-0.08%), 6.44795
Gold: Up (0.40%), 4,513.90
Brent Crude: Down (-0.78%), 91.700
Natural Gas: Up (0.55%), 3.313
Leave a Reply