FTSE 100 rises as JD Sports holds guidance and Foxtons expands, while Middle East diplomacy and Gulf oil supply remain in focus.
Market Overview
The FTSE 100 opened 0.32 per cent higher at 10,742.88, as hopes for progress in US-Iran diplomacy and an improving Gulf oil supply outlook supported sentiment. The Euronext 100 gained 0.37 per cent to 1,908.45, while Germany’s DAX rose 0.28 per cent to 25,650.52. On Wall Street, the Nasdaq closed higher at 27,244.28, while the S&P 500 was marginally lower at 7,764.64. European sentiment was supported by the restart of Saudi Arabia’s East-West oil pipeline and diplomatic discussions surrounding the Middle East conflict.
Commodity markets were mixed, with copper and gold lower from their opening levels, while Brent crude was higher and natural gas declined. The broader oil market remained focused on improving Gulf supply and prospects for US-Iran talks. Bitcoin advanced against sterling. The US dollar, Swiss franc, euro and Japanese yen strengthened against the pound, while the Australian dollar weakened.
Market Numbers
FTSE 100: Higher (+0.32%), 10,742.88
Euronext 100: Higher (+0.37%), 1,908.45
DAX: Higher (+0.28%), 25,650.52
NASDAQ: Higher, 27,244.28
S&P 500: Lower, 7,764.64
In the Headlines
Guidance maintained – JD Sports Fashion (LSE:JD.)
The sportswear retailer maintained its full-year profit guidance after reporting first-half profit before tax and adjusting items of £282 million, slightly above analyst expectations. Revenue declined to £5.90 billion, while the company retained its £700 million to £800 million full-year profit guidance.
Regional expansion – Foxtons Group (LSE:FOXT)
The estate agency group completed four lettings-focused acquisitions in Birmingham, Watford and the Reading area, adding £3.2 million in annual revenue. The transactions expand Foxtons’ operations outside London and are expected by the company to be earnings accretive from 2027.
Currencies (vs GBP)
USD: Higher (+0.23%), $1.3313
CHF: Higher (+0.02%), Fr.1.0951
EUR: Higher (+0.02%), €1.1654
JPY: Higher (+0.04%), ¥210.0295
AUD: Lower (-0.14%), $1.8788
Bitcoin (BTC/GBP): Higher, £64,787.37
Commodities
Copper: Lower
Gold: Lower
Brent Crude: Higher
Natural Gas: Lower
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