UK shares open little changed as Wall Street rallies on Fed rate-hold hopes; Arrow Exploration lifts output and Bitcoin climbs 3.67%.
Market Overview
UK and European markets opened little changed on Friday, with the FTSE 100 marginally lower and the Euronext 100 modestly firmer, while Germany’s DAX slipped from its previous close. Wall Street’s overnight session was far stronger, with the Nasdaq Composite closing up 1.40 per cent and the S&P 500 closing up 1.06 per cent, as investors positioned ahead of Friday’s US non-farm payrolls report, which analysts regard as pivotal to the Federal Reserve’s rate decision at its September meeting. Commentary from Fed Governor Christopher Waller pointing to encouraging signs of disinflation has tempered earlier fears of a rate rise, while ongoing tension between the United States and Iran continues to weigh on sentiment in energy markets.
In commodities, copper, gold and natural gas all edged higher on the day, while Brent crude eased marginally despite remaining on course for a sharp weekly gain as the standoff between the United States and Iran around the Strait of Hormuz continues to stoke concerns over global energy supply. Bitcoin rose sharply against sterling, extending its rebound after a volatile week. Sterling was little changed against major peers, with only marginal moves against the US dollar, euro, yen, Swiss franc and Australian dollar as currency markets held steady ahead of the US jobs data.
Market Numbers
FTSE 100: Down (-0.00%), 10,831.45
Euronext 100: Up (+0.03%), 1,907.44
DAX: Down (-0.07%), 25,985.86
NASDAQ: Up (+1.40%), 26,584.06
S&P 500: Up (+1.06%), 7,747.71
In the Headlines
Production Update – Arrow Exploration Corp (LSE:AXL)
Arrow Exploration reported corporate production above 6,000 barrels of oil equivalent per day, supported by recent drilling, workovers and its Thorsby field acquisition in Alberta, while advancing drilling at its Icaco field in Colombia. The update underlines the company’s ability to sustain output growth across its Colombian and Canadian assets, with attention now turning to the outcome of licence extension discussions in Colombia.
H1 Generation Update – Quantum Data Energy PLC (LSE:QDE)
Quantum Data Energy reported around 4.7 gigawatt hours of electricity generation in the first half of the year, with its Pyebridge asset achieving prices well above the wholesale benchmark, alongside progress at two new projects reaching financial close and completing construction. The update highlights the company’s expanding flexible power generation portfolio at a time of record renewable output and price volatility in the power market.
Currencies (vs GBP)
USD: Up (+0.00%), $1.3529
CHF: Up (+0.01%), Fr.1.0925
EUR: Down (-0.00%), €1.1634
JPY: Down (-0.01%), ¥210.57
AUD: Up (+0.02%), $1.8789
Bitcoin (BTC/GBP): Up (+3.67%), £59,632.86
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Up
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