FTSE 100 slips as oil rises on Middle East tensions. Debenhams returns to growth while Ramsdens lifts profit guidance on gold strength.
Market Overview
European markets were firmer despite a cautious broader tone as investors weighed escalating Middle East tensions, tariff concerns and higher oil prices. The FTSE 100 fell 0.25 per cent to 10,356.35, while the CAC 40 gained 0.77 per cent and the DAX rose 0.48 per cent. In the US, the Nasdaq edged up 0.04 per cent, while the S&P 500 slipped 0.11 per cent. Market sentiment remained sensitive to geopolitical developments and the impact of rising energy costs on inflation expectations.
Commodity markets reflected the risk-off backdrop, with Brent crude strengthening as concerns over supply disruptions in the Gulf supported prices. Gold eased despite ongoing uncertainty, while copper weakened amid concerns over global growth and trade. Sterling was mixed against major currencies, losing ground against the US dollar and Japanese yen but strengthening against the euro, Swiss franc and Australian dollar. Bitcoin advanced as investor appetite for alternative assets improved.
Market Numbers
FTSE 100: Down (-0.25%), 10,356.35
CAC40: Up (0.77%), 8,209.090
DAX: Up (0.48%), 25,124.17
NASDAQ: Up (0.04%), 30,669.2
S&P 500: Down (-0.11%), 7,608.5
In the Headlines
GMV Growth Return – Debenhams Group (LSE:DEBS)
Debenhams Group reported a return to gross merchandise value growth, signalling continued progress in its turnaround strategy. The update suggests improving trading momentum across the retailer’s brands and provides support for confidence in its restructuring efforts.
Profit Outlook Raised – Ramsdens Holdings (LSE:RFX)
Ramsdens upgraded its full-year profit expectations, benefiting from sustained strength in gold prices. The higher outlook highlights the positive impact of precious metals demand on the group’s jewellery and pawnbroking operations.
Currencies (vs GBP)
USD: Down (-0.15%), $1.3445
CHF: Up (0.11%), Fr.1.06110
EUR: Up (0.01%), €1.1573
JPY: Down (-0.12%), ¥215.084
AUD: Up (0.16%), $1.877520
Bitcoin (BTC/GBP): Up (0.70%), £49,910.0
Commodities
Copper: Down (-1.55%), 6.60767
Gold: Down (-0.69%), 4,456.90
Brent Crude: Up (2.07%), 97.187
Natural Gas: Up (0.76%), 3.191
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