UK markets open little changed as Watkin Jones holds FY26 guidance and Goodwin’s profit surges 118 per cent, while Brent crude extends its pullback.
Market Overview
UK shares opened little changed on Friday, with the FTSE 100 essentially flat at 10,792.46 as investors stayed cautious ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole address. The Euronext 100 opened firmer at 1,914.88, up 0.10 per cent, while Frankfurt’s DAX advanced to 26,494.61, a rise of 0.48 per cent, as European sentiment steadied after a volatile week marked by elevated euro-zone bond yields. Wall Street had closed higher on Thursday, with the Nasdaq Composite up 411.15 points, or 1.57 per cent, to 26,541.35, and the S&P 500 gaining 55.29 points, or 0.72 per cent, to 7,730.99, setting a firmer tone into the European session.
In commodities, copper and gold edged higher while Brent crude slipped further, extending a recent pullback as expanding oil flow through the Strait of Hormuz eased supply concerns despite lingering Iran-related tensions. Natural gas was little changed. Bitcoin softened slightly against sterling, while the pound was broadly steady across major pairs, nudging higher against the dollar, euro and Swiss franc but little changed against the yen and Australian dollar. Attention remained fixed on Warsh’s keynote, with European equities on course for a third successive weekly decline.
Market Numbers
FTSE 100: Down (-0.00%), 10,792.46
Euronext 100: Up (+0.10%), 1,914.88
DAX: Up (+0.48%), 26,494.61
NASDAQ: Up, 26,541.35
S&P 500: Up, 7,730.99
In the Headlines
FY26 Guidance Held – Watkin Jones (LSE:WJG)
Build-to-rent developer Watkin Jones said full-year adjusted operating profit is expected to be broadly in line with the first half, after completing two major schemes in Belfast and Cardiff delivering 1,345 rental units. Several anticipated transactions have slipped beyond the year-end due to geopolitical uncertainty and weaker transactional liquidity, though the group expects year-end net cash to exceed £61 million, underscoring balance-sheet resilience despite the deal delays.
Trading Profit Jumps – Goodwin (LSE:GDWN)
Engineering group Goodwin reported trading profit of £77.5 million for the year to April 2026, up 118 per cent, on revenue up 27 per cent to £280 million, and lifted its dividend by 18 per cent. The board has appointed Rothschild & Co to run a sale process for parts of its Mechanical Engineering division — including Steel Castings, International, Noreva, Easat Group and Pumps — with proceeds expected to be substantially returned to shareholders.
Currencies (vs GBP)
USD: Up (+0.00%), $1.3597
CHF: Up (+0.01%), Fr.1.0929
EUR: Up (+0.01%), €1.1667
JPY: Flat (+0.00%), ¥216.6055
AUD: Flat (+0.00%), $1.8897
Bitcoin (BTC/GBP): Down (-0.13%), £58,986.86
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Flat
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