FTSE 100 steadies as Berkeley cuts growth targets and Segro rejects a takeover bid. Brent crude weakens while gold advances.
Market Overview
UK markets were broadly steady at the open, with the FTSE 100 edging higher to 10,429.02. Across Europe, sentiment was weaker following a global technology sell-off and renewed concerns over the interest rate outlook. The Euronext 100 slipped 0.01 per cent to 1,900.85, while Germany’s DAX fell 0.59 per cent to 24,790.70. In the United States, the Nasdaq closed lower at 25,587.04 and the S&P 500 finished at 7,365.46 as investors reacted to the technology-led retreat and Federal Reserve uncertainty.
Commodity markets reflected easing geopolitical concerns after expectations of smoother crude flows through the Strait of Hormuz helped push oil prices lower. Copper and gold moved higher, while natural gas also advanced. Against sterling, the US dollar, euro and Swiss franc strengthened, while the Australian dollar and Japanese yen weakened. Bitcoin was unchanged against the pound.
Market Numbers
FTSE 100: Up (+0.00%), 10,429.02
Euronext 100: Down (-0.01%), 1,900.85
DAX: Down (-0.59%), 24,790.70
NASDAQ: Down, 25,587.04
S&P 500: Down, 7,365.46
In the Headlines
Profit Outlook Reset – Berkeley Group (LSE:BKG)
Berkeley reported annual profit below market expectations and revised its medium-term growth targets. The update highlights ongoing challenges in the UK housing market and could influence sentiment towards the wider housebuilding sector.
Takeover Rebuff – Segro (LSE:SGRO)
Segro rejected a £12.6 billion approach from a US rival, underscoring continued overseas interest in UK-listed assets. The move reinforces confidence in the company’s long-term strategy and valuation outlook.
Currencies (vs GBP)
USD: Up (+0.00%), $1.32
CHF: Up (+0.03%), Fr.1.0689
EUR: Up (+0.01%), €1.16
JPY: Down (-0.01%), ¥213.2955
AUD: Down (-0.00%), $1.9089
Bitcoin (BTC/GBP): Unchanged £47,473.62
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Up
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