Markets opened cautiously as Middle East tensions weighed on sentiment. Burberry and Wise reported strong updates while Brent crude moved higher.
Market Overview
The FTSE 100 opened broadly unchanged at 10,572.39, while the Euronext 100 slipped 0.14 per cent and Germany’s DAX fell 0.53 per cent at the open. Overnight, the Nasdaq closed lower at 25,881.95 and the S&P 500 finished at 7,533.77, with both US benchmarks declining as investors reacted to renewed US-Iran tensions. Market sentiment remained cautious amid geopolitical uncertainty, although stronger corporate earnings helped limit losses across European markets.
Macro sentiment was shaped by firmer energy prices as Brent crude advanced on escalating Middle East tensions and concerns over potential disruption to Red Sea shipping. Gold edged higher on safe-haven demand, copper weakened, and natural gas eased slightly. Against sterling, the US dollar, Swiss franc and euro strengthened marginally, while the Japanese yen and Australian dollar were little changed. Bitcoin was down.
Market Numbers
FTSE 100: Up (0.001%), 10,572.39
Euronext 100: Down (-0.14%), 1,917.90
DAX: Down (-0.53%), 24,783.56
NASDAQ: Down, 25,881.95
S&P 500: Down, 7,533.77
In the Headlines
Luxury Retail – Burberry Group (LSE:BRBY)
Burberry reported a 5 per cent rise in first-quarter comparable sales as strong demand in the Americas and China offset weaker trading across Europe. The update suggests the group’s turnaround efforts are gaining traction despite uneven regional consumer spending.
Fintech Growth – Wise plc (LSE:WSE)
Wise delivered strong first-quarter FY27 growth as customer numbers and cross-border payment volumes continued to increase. The performance highlights ongoing demand for low-cost international money transfers and supports confidence in the company’s long-term growth strategy.
Currencies (vs GBP)
USD: Up (0.03%), $1.3478
CHF: Up (0.02%), Fr.1.0897
EUR: Up (0.02%), €1.1776
JPY: Up (0.01%), ¥218.8535
AUD: Unchanged (0.00%), $1.9253
Bitcoin (BTC/GBP): Down, £46,662.10
Commodities
Copper: Down
Gold: Up
Brent Crude: Up
Natural Gas: Down
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