FTSE 100 opens flat as TT Electronics raises its outlook and Wizz Air reports passenger growth, while Brent crude moves higher.
Market Overview
The FTSE 100 opened broadly unchanged, up 0.01 per cent at 10,789.94, as renewed US-Iran strikes and higher oil prices weighed on risk appetite. The Euronext 100 was unchanged at 1,905.94, while Germany’s DAX fell 0.20 per cent to 25,918.40 as rising global bond yields pressured European equities. In the US, the Nasdaq closed lower at 26,099.77 and the S&P 500 declined to 7,631.47.
Commodity markets were mixed, with copper and gold lower while Brent crude and natural gas moved higher. Oil remained supported by renewed concern over supply disruption as the US and Iran exchanged fresh strikes and tensions around the Strait of Hormuz intensified. Bitcoin was up against sterling. The US dollar and Japanese yen strengthened marginally versus the pound, while the euro and Australian dollar weakened slightly and the Swiss franc was broadly unchanged.
Market Numbers
FTSE 100: Up (+0.01%), 10,789.94
Euronext 100: Unchanged (0.00%), 1,905.94
DAX: Down (-0.20%), 25,918.40
NASDAQ: Down, 26,099.77
S&P 500: Down, 7,631.47
In the Headlines
Profit outlook raised – TT Electronics (LSE:TTG)
TT Electronics raised its full-year adjusted operating profit outlook above current market expectations after first-half adjusted operating profit increased and margins improved. The engineered electronics group also expects organic revenue growth to return during the second half, supported by its order book.
Passenger growth – Wizz Air (LSE:WIZZ)
Wizz Air carried 8.70 million passengers in August, up 25.9 per cent year on year, as the low-cost airline expanded capacity. The company is also extending its Spanish network with plans for a third base in the country at Santiago de Compostela.
Currencies (vs GBP)
USD: Up (+0.02%), $1.3513
CHF: Unchanged (0.00%), Fr.1.0972
EUR: Down (-0.01%), €1.1658
JPY: Up (+0.02%), ¥216.485
AUD: Down (-0.01%), $1.8912
Bitcoin (BTC/GBP): Unchanged (0.00%), £57,393.09
Commodities
Copper: Down
Gold: Down
Brent Crude: Up
Natural Gas: Up
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