FTSE 100 falls as bond yields rise, while Filtronic wins a SpaceX order, PHP reports rental growth and Brent crude advances.
Market Overview
The FTSE 100 opened lower, falling 1.74 per cent to 10,421.16 as rising global bond yields weighed on UK equities. In Europe, the Euronext 100 declined 1.18 per cent to 1,862.71, while Germany’s DAX fell 0.91 per cent to 24,970.78 amid concerns over energy-driven inflation. On Wall Street, the Nasdaq closed higher at 26,861.06, while the S&P 500 closed lower at 7,651.54.
Commodity markets were mixed, with copper, gold and natural gas lower while Brent crude advanced as Middle East supply risks remained in focus. Bitcoin strengthened slightly against sterling. The US dollar, Swiss franc and Australian dollar also strengthened against the pound, while the euro and Japanese yen weakened, as markets continued to assess elevated bond yields, inflation pressures and geopolitical uncertainty.
Market Numbers
FTSE 100: Down (-1.74%), 10,421.16
Euronext 100: Down (-1.18%), 1,862.71
DAX: Down (-0.91%), 24,970.78
NASDAQ: Up, 26,861.06
S&P 500: Down, 7,651.54
In the Headlines
SpaceX order – Filtronic (LSE:FTC)
Filtronic secured a $68.1 million follow-on order from SpaceX for its Cerus E-band gallium nitride solid-state power amplifier units. The contract is expected to be delivered predominantly during the 2028 financial year, providing additional revenue visibility.
Rental growth – Primary Health Properties (LSE:PHP)
Primary Health Properties secured a £5.8 million increase in rental income as the healthcare property group completed the integration of Assura. The update highlights continued rental growth across the enlarged portfolio following the combination.
Currencies (vs GBP)
USD: Up (+0.21%), $1.3236
CHF: Up (+0.06%), Fr.1.1078
EUR: Down (-0.03%), €1.1714
JPY: Down (-0.34%), ¥209.7015
AUD: Up (+0.11%), $1.9077
Bitcoin (BTC/GBP): Up, £63,113.99
Commodities
Copper: Down
Gold: Down
Brent Crude: Up
Natural Gas: Down
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