FTSE 100 rises as UK growth beats forecasts, while Greggs reports higher Q3 sales, Goodwin updates investors and Brent crude falls.
Market Overview
The FTSE 100 opened 0.69 per cent higher at 10,709.87, supported by stronger-than-expected UK economic growth and gains among mining shares. In Europe, the Euronext 100 rose 0.43 per cent and Germany’s DAX gained 0.59 per cent as regional equities advanced amid supportive signals for the technology sector. On Wall Street, the Nasdaq closed lower at 26,797.54, while the S&P 500 declined to 7,670.84.
Commodity trading was mixed, with copper and gold higher, Brent crude lower and natural gas broadly unchanged. Oil markets remained focused on recovering Middle East exports and disruption around the Strait of Hormuz. Against sterling, the US dollar, Swiss franc, euro and Australian dollar weakened, while the Japanese yen strengthened. Bitcoin also declined against sterling.
Market Numbers
FTSE 100: Higher (+0.69%), 10,709.87
Euronext 100: Higher (+0.43%), 1,905.80
DAX: Higher (+0.59%), 25,547.80
NASDAQ: Lower, 26,797.54
S&P 500: Lower, 7,670.84
In the Headlines
Q3 sales growth – Greggs (LSE:GRG)
Greggs reported third-quarter total sales growth of 7.7 per cent, with like-for-like sales in company-managed shops up 3.4 per cent. The food-on-the-go retailer also proposed a manufacturing restructuring that could affect around 740 roles as it seeks to consolidate production and reduce costs.
Higher refractory profits – Goodwin (LSE:GDWN)
Goodwin reported higher profits from its refractory operations as the engineering group continued work towards the disposal of a substantial part of its Mechanical Engineering division. The transaction would leave the group focused on its Refractory Engineering and Technological divisions following completion.
Currencies (vs GBP)
USD: Lower (-0.28%), $1.3267
CHF: Lower (-0.17%), Fr.1.1056
EUR: Lower (-0.18%), €1.1687
JPY: Higher (+0.08%), ¥208.082
AUD: Lower (-0.46%), $1.9018
Bitcoin (BTC/GBP): Lower, £62,837.88
Commodities
Copper: Higher
Gold: Higher
Brent Crude: Lower
Natural Gas: Broadly unchanged
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