FTSE 100 opens flat as BT Group reports higher profit and Harbour Energy raises guidance. European shares advance while Brent crude declines.
Market Overview
The FTSE 100 opened virtually unchanged at 10,829.26, as investors awaited the Bank of England’s interest rate decision following a rally in UK banking shares. European markets advanced, with the Euronext 100 rising 0.17 per cent to 1,900.04 and Germany’s DAX gaining 0.42 per cent to 26,549.86, supported by optimism surrounding artificial intelligence and the outcome of the US midterm elections. Wall Street closed higher on Wednesday, with the Nasdaq rising to 25,736.51 and the S&P 500 finishing at 7,688.62.
Commodity markets were mixed, with copper declining and gold unchanged, while Brent crude weakened as expectations of renewed diplomatic efforts to resolve the Iran conflict reduced concerns over Middle Eastern oil supplies. Natural gas advanced slightly. Bitcoin strengthened marginally against sterling. In currency markets, the US dollar, Swiss franc and euro gained slightly against the pound, while the Japanese yen and Australian dollar weakened. Investors continued to assess the implications of US political developments, falling energy prices and the Bank of England’s forthcoming policy announcement.
Market Numbers
FTSE 100: Up (+0.0005%), 10,829.26
Euronext 100: Up (+0.17%), 1,900.04
DAX: Up (+0.42%), 26,549.86
NASDAQ: Up, 25,736.51
S&P 500: Up, 7,688.62
In the Headlines
Profit Growth – BT Group (LSE:BT.A)
BT Group reported a 12 per cent increase in half-year pretax profit to £1.07 billion, supported by cost reductions and growth in adjusted EBITDA. The telecommunications company also raised its interim dividend by 2 per cent to 2.50 pence per share and maintained its full-year guidance, providing investors with an update on earnings and shareholder returns.
Guidance Upgrade – Harbour Energy (LSE:HBR)
Harbour Energy increased its 2026 production guidance and raised its free cash flow forecast by $800 million to approximately $2.6 billion, reflecting improved operational performance and higher realised energy prices. The oil and gas producer also announced a further $150 million share buyback, highlighting its updated capital allocation plans.
Currencies (vs GBP)
USD: Up (+0.007%), $1.3476
CHF: Up (+0.008%), Fr.1.1003
EUR: Up (+0.003%), €1.1995
JPY: Down (-0.004%), ¥213.4295
AUD: Down (-0.006%), $1.9243
Bitcoin (BTC/GBP): Up, £59,771.39
Commodities
Copper: Down
Gold: Unchanged
Brent Crude: Down
Natural Gas: Up
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