FTSE 100 opens steady as HSBC launches a US$1 billion buyback and BP reports stronger profits while Brent crude eases on diplomacy hopes.
Market Overview
The FTSE 100 opened broadly unchanged at 10,857.63. Across Europe, the Euronext 100 slipped 0.01 per cent, while Germany’s DAX opened 0.90 per cent higher. Overnight in the United States, the Nasdaq closed higher at 25,913.90 and the S&P 500 gained to 7,600.50. Market sentiment was supported by renewed hopes of US-Iran diplomatic engagement, strong corporate earnings and improving risk appetite across European equities, while lower oil prices also helped underpin broader market sentiment.
Against sterling, the US dollar, Swiss franc and Australian dollar were little changed, while the euro edged marginally higher and the Japanese yen weakened slightly. Bitcoin was up slightly. In commodities, copper and gold moved higher, Brent crude eased as diplomatic developments weighed on energy prices, and natural gas traded firmer.
Market Numbers
FTSE 100: Down (-0.001%), 10,857.63
Euronext 100: Down (-0.01%), 1,939.07
DAX: Up (+0.90%), 26,234.84
NASDAQ: Up, 25,913.90
S&P 500: Up, 7,600.50
In the Headlines
Strong results – HSBC Holdings (LSE:HSBA)
HSBC reported first-half profit ahead of market expectations and announced a further US$1 billion share buyback. The results reinforce the bank’s capital strength and commitment to returning excess capital to shareholders.
Earnings growth – BP plc (LSE:BP.)
BP more than doubled second-quarter profit as stronger oil prices boosted earnings. The improved performance highlights the continued benefit of higher energy prices for the group’s upstream business and cash generation.
Currencies (vs GBP)
USD: Unchanged (0.00%), $1.3427
CHF: Up (+0.03%), Fr.1.0881
EUR: Up (+0.01%), €1.1668
JPY: Up (+0.05%), ¥211.5445
AUD: Unchanged (0.00%), $1.9189
Bitcoin (BTC/GBP): Up, £47,390.30
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Up
Leave a Reply