FTSE 100 opens flat as gilts steady, Wetherspoon revenue rises while higher costs hit profit, Capita responds to NAO review and Brent edges up.
Market Overview
London opened almost unchanged, with the FTSE 100 slipping 0.0003 per cent to 10,428.23 as gilts steadied after Thursday’s sell-off. On the Continent, the Euronext 100 rose 0.0231 per cent to 1,857.93 and the DAX gained 0.2243 per cent to 24,995.29. That leaves European shares heading for their worst week since April, after France’s 2027 draft budget pushed its 10-year bond yield to the highest level since 2002. In the US, the Nasdaq closed up 0.04 per cent at 26,871.60 and the S&P 500 added 0.19 per cent to 7,666.45, as investors waited for September non-farm payrolls. Markets see that data as key to whether the Federal Reserve raises rates in October.
Brent crude moved slightly higher, holding on to gains. Reports that Washington is weighing another aircraft carrier group and more troops for the Middle East kept attention on the Strait of Hormuz. The restart of Saudi Arabia’s East-West Pipeline and worries about global demand limited further gains. Copper and natural gas edged up, while gold eased a little despite steady demand for safe-haven assets. Bitcoin rose firmly against sterling. The pound was marginally firmer against all its major peers as investors reassessed risk after the gilt sell-off. Eurozone flash inflation figures, where energy costs are expected to lift the headline rate, are also due today.
Market Numbers
FTSE 100: Down (-0.00%), 10,428.23
Euronext 100: Up (+0.023%), 1,857.93
DAX: Up (+0.224%), 24,995.29
NASDAQ: Up (+0.04%), 26,871.60
S&P 500: Up (+0.19%), 7,666.45
In the Headlines
Annual results – J D Wetherspoon (LSE:JDW)
The pub operator’s revenue rose 5.2 per cent to £2.24 billion in the year to 26 July 2026. Profit before tax and separately disclosed items fell 28 per cent to £58.6 million, because wage, energy and repair costs rose faster than sales. Like-for-like sales rose 8.6 per cent in the first nine weeks of the new financial year, and the group expects this year’s profit before tax to be in line with market consensus.
NAO review – Capita (LSE:CPI)
Capita has responded to the National Audit Office’s decision to review how it runs the Civil Service Pension Scheme. The company acknowledged that its performance is still below what scheme members and the Government expect. It said it has made operational progress, including more automation and stronger governance, but did not put a figure on any possible financial impact from the review.
Currencies (vs GBP)
USD: Up (+0.0053%), $1.3198
CHF: Up (+0.0027%), Fr.1.0962
EUR: Up (+0.0085%), €1.1733
JPY: Up (+0.0083%), ¥208.44
AUD: Up (+0.0005%), $1.9049
Bitcoin (BTC/GBP): Up (+3.15%), £65,023.8
Commodities
Copper: Up
Gold: Down
Brent Crude: Up
Natural Gas: Up
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