FTSE 100 opens flat as oil tops $90 on Middle East tensions. Craneware contains a cyber incident while Gulf Keystone halts Shaikan production.
Market Overview
The FTSE 100 opened broadly unchanged at 10,600.27, while the Euronext 100 slipped 0.02 per cent and Germany’s DAX fell 0.16 per cent. US markets closed weaker on Friday, with the Nasdaq ending at 25,520.24 and the S&P 500 finishing at 7,457.69. Market sentiment remained under pressure as escalating US-Iran tensions drove oil prices sharply higher, while investors also looked ahead to the European Central Bank meeting and the latest US technology earnings.
Commodity markets reflected the heightened geopolitical backdrop, with Brent crude extending gains while copper, gold and natural gas were little changed. Bitcoin weakened slightly against sterling. Sterling strengthened modestly against the US dollar and Australian dollar, was broadly steady against the euro, and softened slightly against the Swiss franc and Japanese yen as investors continued to favour defensive assets.
Market Numbers
FTSE 100: Down (0.001%), 10,600.27
Euronext 100: Down (-0.02%), 1,905.03
DAX: Down (-0.16%), 24,790.34
NASDAQ: Down, 25,520.24
S&P 500: Down, 7,457.69
In the Headlines
Cyber security – Craneware (LSE:CRW)
Craneware said it has contained a cyber security incident, with customer-facing services remaining fully operational. The company continues to investigate the incident while maintaining business continuity, helping to limit operational and market disruption.
Production halt – Gulf Keystone Petroleum (LSE:GKP)
Gulf Keystone has temporarily suspended production at its Shaikan oil field in the Kurdistan Region of Iraq due to deteriorating regional security conditions. The move highlights the growing operational risks facing energy producers as geopolitical tensions intensify.
Currencies (vs GBP)
USD: Up (0.00%), $1.3445
CHF: Down (-0.02%), Fr.1.087
EUR: Up (0.00%), €1.1766
JPY: Down (-0.00%), ¥218.521
AUD: Up (0.00%), $1.9266
Bitcoin (BTC/GBP): Down, £47, 599.95
Commodities
Copper: Up
Gold: Down
Brent Crude: Up
Natural Gas: Up
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