UK markets open flat as Trainline unveils a £100m buyback and Berkeley holds its £1.4bn profit target. Brent crude eases, sterling firms.
Market Overview
UK and European markets opened broadly steady on Friday, with the FTSE 100 little changed at 10,608.95, having closed the previous session at 10,608.92. The Euronext 100 opened firmer at 1,888.44, up around 0.09 per cent, while Germany’s DAX advanced to 25,478.84, a rise of roughly 0.46 per cent, as stronger-than-expected UK GDP data helped offset lingering concerns over tensions in the Strait of Hormuz. Wall Street had closed lower overnight, with the Nasdaq Composite down 0.65 per cent at 26,081.73 and the S&P 500 off 0.58 per cent at 7,591.70, as investors weighed the European Central Bank’s recent hawkish rate rise and awaited further signals on the path for US monetary policy.
Elsewhere, commodity markets were mixed, with copper and gold firmer while Brent crude and natural gas eased back after a volatile run driven by Middle East supply concerns. Bitcoin slipped against sterling, reflecting a more cautious tone across risk assets. Sterling was broadly stable overnight, edging higher against the US dollar and the euro but softer against the Swiss franc, as traders continued to digest this week’s European Central Bank rate rise alongside signs of resilience in the UK economy. Overall sentiment remained cautious, with energy market volatility and central bank policy the dominant macro themes heading into the session.
Market Numbers
FTSE 100: Up (+0.00%), 10,608.95
Euronext 100: Up (+0.09%), 1,888.44
DAX: Up (+0.46%), 25,478.84
NASDAQ: Down, 26,081.73
S&P 500: Down, 7,591.70
In the Headlines
Buyback boost – Trainline plc (LSE:TRN)
Trainline reported net ticket sales of £3.3 billion for the first half, broadly flat year-on-year, and announced a new £100 million share buyback alongside reaffirmed full-year guidance. The move underlines management confidence despite a modest decline in international ticket sales.
Profit target held – Berkeley Group Holdings (LSE:BKG)
Berkeley reaffirmed its target to deliver £1.4 billion of pre-tax profit over four years, though it said trading since May has been affected by the prolonged Middle East conflict and UK political uncertainty. The housebuilder is scaling back production by around a quarter over the period as buyer caution persists.
Currencies (vs GBP)
USD: Up (+0.01%), $1.351
CHF: Down (-0.01%), Fr.1.0985
EUR: Up (+0.00%), €1.1636
JPY: Down (-0.00%), ¥208.6855
AUD: Up (+0.00%), $1.8878
Bitcoin (BTC/GBP): Down, £57,202.93
Commodities
Copper: Up
Gold: Up
Brent Crude: Down
Natural Gas: Down
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