FTSE 100 opens flat as UK inflation rises, Trainline faces a CMA probe, Defence Holdings outlines its fund strategy and Brent crude slips.
Market Overview
The FTSE 100 opened broadly unchanged at 10,727.84, down less than 0.01 per cent from its previous close, as gains among miners helped offset concerns after UK inflation rose to a four-month high. The Euronext 100 gained 0.11 per cent to 1,951.77, while Germany’s DAX slipped 0.03 per cent to 26,120.76 as European investors assessed elevated bond yields and awaited comments from ECB President Christine Lagarde and Federal Reserve minutes. Overnight in the US, the Nasdaq closed lower at 26,289.71 and the S&P 500 fell to 7,691.76.
Commodity markets were mixed, with copper and gold lower, Brent crude edging down and natural gas slightly higher. Oil markets remained sensitive to uncertainty over exports through the Strait of Hormuz. Against sterling, the US dollar and Japanese yen weakened marginally, the Australian dollar strengthened slightly, while the Swiss franc and euro were unchanged. Bitcoin was down.
Market Numbers
FTSE 100: Down (-0.001%), 10,727.84
Euronext 100: Up (+0.11%), 1,951.77
DAX: Down (-0.03%), 26,120.76
NASDAQ: Down, 26,289.71
S&P 500: Down, 7,691.76
In the Headlines
CMA booking fee investigation – Trainline (LSE:TRN)
Trainline said it will cooperate fully with a Competition and Markets Authority investigation into how certain fees are displayed during its UK booking process. The regulatory scrutiny puts the transparency of booking charges in focus and could result in further changes to how costs are presented to customers.
Defence fund strategy – Defence Holdings (LSE:ALRT)
Defence Holdings CEO Andrew Roughan has explained the rationale behind the company’s £2 million cornerstone commitment to a new defence fund. The investment activates the Investment pillar of its strategy and is intended to give the group equity exposure to defence technology businesses alongside its core commercial activities.
Currencies (vs GBP)
USD: Down (-0.02%), $1.3537
CHF: Unchanged (0.00%), Fr.1.0995
EUR: Unchanged (0.00%), €1.1693
JPY: Down (-0.01%), ¥215.978
AUD: Up (+0.00%), $1.9116
Bitcoin (BTC/GBP): Down, £47,464.50
Commodities
Copper: Down
Gold: Down
Brent Crude: Down
Natural Gas: Up
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