FTSE 100 opens flat as weak UK retail sales weigh. BlackRock Smaller Companies buys back shares, Trustpilot reshapes its board and Brent edges up.
Market Overview
European markets opened cautiously on Friday. The FTSE 100 was broadly flat, down 0.002 per cent at 10,724.72, after UK retail sales volumes fell 0.4 per cent in September, a weaker result than forecast, and consumer confidence dropped sharply ahead of next week’s Budget. The Euronext 100 edged up 0.068 percent to 1,845.68. The DAX fell 0.177 percent to 25,326.66 as civil unrest in France pushed French government bond yields to 24-year highs and investors moved out of continental equities. On Wall Street, the Nasdaq closed down 2.90 per cent at 28,958.69 and the S&P 500 fell 1.21 per cent to 7,663.43, as concerns over AI-related spending and debt financing weighed on technology shares.
Geopolitical risk remains the main macro driver. Brent crude edged higher, staying near five-month highs on fears of a US-Iran conflict and Houthi strikes on Saudi energy infrastructure, which have added to inflation concerns ahead of next week’s central bank meetings. Gold was unchanged, while copper and natural gas slipped slightly. Bitcoin eased against sterling. The pound was mixed: marginally weaker against the US dollar, slightly firmer against the yen, Australian dollar and Swiss franc, and flat against the euro.
Market Numbers
FTSE 100: Down (-0.002%), 10,724.72
Euronext 100: Up (+0.068%), 1,845.68
DAX: Down (-0.177%), 25,326.66
NASDAQ: Down, 28,958.69
S&P 500: Down, 7,663.43
In the Headlines
Share buyback – BlackRock Smaller Companies Trust (LSE:BRSC)
BlackRock Smaller Companies Trust bought back 85,000 ordinary shares at an average of 266 pence each and is holding them in treasury, which now holds 61,143,655 shares, or 20.47 per cent of issued capital. From 26 October, the trust’s voting share capital falls to 237,548,950 shares, the figure shareholders should use for FCA disclosure thresholds.
Board changes – Trustpilot Group (LSE:TRST)
Trustpilot is changing its board committees from 1 November. Joe Hurd will chair the Trust & Transparency Committee, Claire Davenport will take responsibility for workforce engagement, and John-Paul Savant will join the Audit & Risk Committee. The company says the changes are meant to strengthen oversight of trust, transparency and risk, which are central to how it is valued as a review platform.
Currencies (vs GBP)
USD: Down (-0.0037%), $1.3403
CHF: Up (+0.0018%), Fr.1.099
EUR: Unchanged (0.00%), €1.1945
JPY: Up (+0.0179%), ¥209.804
AUD: Up (+0.0131%), $1.9096
Bitcoin (BTC/GBP): Down (-0.32%), £61,084.5
Commodities
Copper: Down
Gold: Unchanged
Brent Crude: Up
Natural Gas: Down
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