FTSE 100 edges higher as investors monitor Middle East tensions. EasyJet responds to takeover interest while Drax expands renewables.
Market Overview
European markets were mixed at the open, with the FTSE 100 edging higher by 0.09 per cent to 10,377.29 and the DAX gaining 0.05 per cent to 25,104.70, while the CAC 40 slipped 0.07 per cent to 8,183.34. In the US, sentiment remained constructive as the Nasdaq advanced 0.33 per cent and the S&P 500 added 0.31 per cent. Investors continued to assess geopolitical developments in the Middle East, with uncertainty surrounding a potential US-Iran agreement and renewed regional military activity influencing risk appetite.
Commodity markets reflected ongoing geopolitical concerns. Brent crude strengthened as traders monitored developments in the Middle East, while copper also moved higher, signalling resilience in industrial demand expectations. Gold eased despite lingering geopolitical uncertainty, while Bitcoin weakened against sterling. Sterling gained modestly against major currencies including the euro, US dollar, Swiss franc, Japanese yen and Australian dollar.
Market Numbers
FTSE 100: Up (0.09%), 10,377.29
CAC40: Down (-0.07%), 8,183.34
DAX: Up (0.05%), 25,104.70
NASDAQ: Up (0.33%), 30,323.5
S&P 500: Up (0.31%), 7,601.3
In the Headlines
Takeover Response – EasyJet (LSE:EZJ)
EasyJet said reported takeover interest from a US investment firm would be “highly opportunistic”, signalling that management believes the airline is undervalued. The comments come as the aviation sector continues to navigate geopolitical uncertainty and fluctuating travel demand.
Solar Acquisition – Drax (LSE:DRX)
Drax has agreed a £548 million takeover of Bluefield Solar Income Fund, expanding its renewable energy portfolio and strengthening its position in the UK clean energy market. The acquisition supports Drax’s strategy of increasing exposure to long-term renewable generation assets.
Currencies (vs GBP)
USD: Up (0.14%), $1.3465
CHF: Up (0.30%), Fr.1.05412
EUR: Up (0.12%), €1.1546
JPY: Up (0.19%), ¥214.720
AUD: Up (0.11%), $1.874520
Bitcoin (BTC/GBP): Down (-1.07%), £54,129.6
Commodities
Copper: Up (1.04%), 6.49167
Gold: Down (-0.77%), 4,505.37
Brent Crude: Up (2.37%), 93.484
Natural Gas: Up (0.71%), 3.393
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