FTSE 100 trades higher as Card Factory reports revenue growth, Tern narrows its loss and Brent crude advances amid US-Iran uncertainty.
Market Overview
The FTSE 100 opened broadly flat and traded up a little at 10,744.25, as slower UK shop price inflation provided some support while US-Iran uncertainty remained in focus. The Euronext 100 opened 0.02 per cent lower and traded at 1,907.73, while Germany’s DAX was 0.07 per cent higher at 25,392.25. On Wall Street, the Nasdaq closed lower at 26,820.38 and the S&P 500 declined to 7,683.69.
Commodity markets were mixed, with copper, gold and natural gas lower while Brent crude advanced as the lack of progress in US-Iran diplomacy kept concerns over Middle East oil supplies in focus. Against sterling, the US dollar and Japanese yen strengthened, while the Swiss franc, euro and Australian dollar weakened. Bitcoin also weakened against sterling.
Market Numbers
FTSE 100: Higher (+0.00%), 10,744.25
Euronext 100: Lower (-0.02%), 1,907.73
DAX: Higher (+0.07%), 25,392.25
NASDAQ: Lower, 26,820.38
S&P 500: Lower, 7,683.69
In the Headlines
Revenue growth – Card Factory (LSE:CARD)
Card Factory reported first-half revenue growth of 5.3 per cent to £260.8 million and raised its interim dividend. The greetings cards and celebrations retailer also reported improved cash generation while continuing investment in digital and international growth.
Loss narrows – Tern (LSE:TERN)
Tern narrowed its first-half loss to £382,000 as net assets increased. The investment company’s results provide an update on its financial position alongside the development of its portfolio businesses.
Currencies (vs GBP)
USD: Higher (+0.17%), $1.3231
CHF: Lower (-0.01%), Fr.1.1026
EUR: Lower (-0.04%), €1.1661
JPY: Higher (+0.19%), ¥208.1665
AUD: Lower (-0.23%), $1.8936
Bitcoin (BTC/GBP): Higher, £63,477.00
Commodities
Copper: Lower
Gold: Lower
Brent Crude: Higher
Natural Gas: Lower
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