Author: Fiona Craig

The FTSE 100 crossed a major milestone on Tuesday morning, trading above 9,000 points for the first time in history before slipping back slightly as market momentum faded. Meanwhile, the British pound continued its steady rise, hovering near $1.34 against the U.S. dollar.

As of 11:18 GMT, the UK’s blue-chip index was down 0.04% at 8,993 points, while the pound gained 0.2% to break above the $1.34 level.

Elsewhere in Europe, Germany’s DAX edged up 0.1% and France’s CAC 40 ticked 0.02% higher, both showing cautious optimism.

Trump Says U.K. Would Back U.S., Questions EU Loyalty

In a fresh interview with the BBC, U.S. President Donald Trump voiced confidence that the United Kingdom would side with the U.S. in any potential conflict, but cast doubt on whether European Union countries would do the same.

Trump cited this uncertainty as a key reason for halting a trade deal with the EU, while carving out exemptions for the UK under his sweeping tariff agenda.

“I believe the UK would stand with us,” Trump said. “I’m not convinced many of the others would.”

FTSE Hits New Heights Before Retreating

The FTSE 100 jumped roughly 15 points at the opening bell to reach a record 9,016 points—its first time ever crossing that psychological barrier. However, the index failed to hold onto those gains and slipped back below 9,000 later in the session.

Rio Tinto Taps Simon Trott as New CEO

Mining giant Rio Tinto (LSE:RIO) announced the appointment of Simon Trott as its next chief executive, effective August 25. He will replace Jakob Stausholm, who previously signaled his intention to step down.

Trott, a 20-year company veteran and head of the iron ore division, previously served as chief commercial officer and helped launch the company’s largest new iron ore project in Western Australia in over a decade.

Bank of England Revises MREL Rules

The Bank of England unveiled new guidelines on Tuesday regarding the minimum requirements for own funds and eligible liabilities (MREL). The changes follow a consultation period that ran from October 2024 to January 2025, which drew 26 responses.

Key updates include raising the indicative asset thresholds for banks and building societies to between £25 billion and £40 billion, starting in January 2026. The BoE said the new rules aim to create a more “robust and proportionate” framework for managing institutional failures.

Experian Exceeds Expectations in Q1 Revenue

Experian PLC (LSE:EXPN) posted an 8% increase in organic revenue for the first quarter of fiscal 2026, surpassing analyst expectations of 7%. Total revenue rose 12% at constant exchange rates.

The credit reporting firm reaffirmed its full-year guidance, citing broad-based growth and a strong start to the year.

Barratt Redrow Shares Tumble on Weak FY26 Outlook

Shares in Barratt Redrow (LSE:RDW) sank more than 7.5% in early trading after the UK homebuilder’s latest update fell short of market forecasts. Total home completions for fiscal 2025 came in at 16,565 units, down 7.8% from last year and below the company’s previous target range.

The shortfall was blamed on subdued activity in London, particularly from international buyers and institutional landlords. Despite maintaining its full-year 2025 profit outlook, the firm’s guidance for 2026 raised concerns about ongoing affordability issues and weakening private buyer demand.

B&M Drops After Disappointing Sales Growth

Discount retailer B&M European Value Retail (LSE:BME) saw its shares plunge more than 10% after reporting lackluster sales for the first quarter of FY26. Same-store sales in the UK grew just 1.3%—well below analyst estimates of 2.6%.

Two-year comparable sales dropped 3.8%, reversing the 0.5% gain reported in the previous quarter. Group revenue rose 4.4% year-over-year to £1.41 billion, with the UK division contributing £1.13 billion, up 4.7%.

Standard Chartered Launches Spot Bitcoin, Ether Trading

Standard Chartered (LSE:STAN) announced on Tuesday that it has begun offering spot trading in bitcoin and ether to institutional clients through its UK entity—making it the first globally systemically important bank to do so.

The move is part of a broader push by traditional finance into digital assets, with the bank confirming it now offers direct and regulated crypto trading services for institutional investors.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures hovered just above unchanged levels Tuesday as investors prepared for a busy day featuring key bank earnings reports and fresh inflation data. Wall Street’s major lenders are expected to deliver solid returns, supported by a generally resilient economy. Meanwhile, consumer prices are anticipated to rise at a quicker pace in June. On the international front, China’s economy grew slightly more than expected in Q2, and Nvidia announced plans to soon resume sales of its H20 AI chip in China.

Futures Show Modest Gains

On Tuesday, U.S. stock futures inched mostly upward as market participants awaited crucial quarterly earnings from leading banks and the release of monthly inflation figures. By 03:35 ET, Dow futures remained largely flat, S&P 500 futures were up 16 points (0.3%), and Nasdaq 100 futures gained 99 points (0.4%).

Wall Street saw modest gains in the prior session, buoyed by a series of AI-related headlines easing concerns about new U.S. tariff threats on Europe and Mexico. Meta Platforms CEO Mark Zuckerberg posted that Facebook plans to invest “hundreds of billions” in AI computing, while Bloomberg reported that President Trump will unveil a $70 billion AI and energy investment plan.

Traders are closely monitoring an array of upcoming earnings releases that could reveal how companies expect profits to evolve amid rising global trade tensions. Analysts at Vital Knowledge described early reports from companies like Delta Air Lines and Levi Strauss as “encouraging,” though noted that four European chemical firms have lowered their forecasts.

Focus on Bank Earnings

Attention now shifts to Wall Street, where several large U.S. banks are scheduled to report before the market opens. JPMorgan Chase, Citigroup, Wells Fargo, and asset management giant BlackRock are set to share results. These firms often signal the start of the quarterly reporting season and serve as barometers for the broader economy.

Analysts expect most of the major banks to report low-to-mid single-digit percentage gains in net interest income (NII), a key measure of income from loans versus interest paid on deposits, according to Reuters.

Despite headwinds—including Trump’s aggressive tariff agenda and renewed Middle East tensions—the U.S. economy has shown resilience in Q2 2025. Inflation remains relatively subdued, and labor demand is stable. However, economists warn that Trump’s planned “reciprocal” tariffs, expected in early August, could cloud the outlook.

CPI Data in Focus

Beyond earnings, markets await fresh U.S. consumer price index data. Economists forecast a 2.6% year-over-year rise in June, up from 2.4% in May, with a 0.3% month-over-month increase, faster than the previous 0.1%. Core CPI, excluding volatile food and energy costs, is expected at 3.0% annually and 0.3% monthly.

ING analysts commented, “Markets will likely be more interested in the impact from Trump’s trade tantrums on the underlying economic data.” They added, “However, any interpretation of the numbers could be complicated by uncertainty around the knock-on effect of many businesses moving to lock in orders before Trump’s ‘Liberation Day’ tariff announcement in April.”

China’s Economic Resilience

China’s economy showed modest strength in the first half of 2025, maintaining its official growth target despite tariff pressures. Q2 GDP expanded 5.2% year-on-year, beating expectations of 5.1%, though slightly below Q1’s 5.4%. On a quarterly basis, GDP rose 1.1%, exceeding forecasts of 0.9%, bringing six-month growth to 5.3%, aligned with government goals.

Limited tariff impacts helped sustain strong Chinese export growth in May and June. Washington and Beijing agreed to ease trade tensions further in June. Yet analysts remain cautious, noting weak domestic demand and a prolonged property slump could require additional stimulus.

Nvidia to Restart H20 Chip Sales in China

Nvidia (NASDAQ:NVDA) announced Monday that it will resume selling its H20 AI processor in China “soon” as trade relations between the U.S. and China improve. This follows CEO Jensen Huang’s meetings with officials from both countries.

Nvidia also unveiled a new GPU designed for AI applications in smart factories and logistics in China. The company’s shares rose 3.6% in after-hours trading.

The firm said it is “filing applications to sell” the H20 again, with assurances from the U.S. government that “licenses will be granted.” This comes after Washington lifted some chip export restrictions, allowing companies like Synopsys to resume sales in China.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Mobico Group PLC (LSE:MCG) announced Monday the completion of its School Bus business sale, netting upfront proceeds of $364 million (£273 million).

This amount landed near the lower end of the previously indicated range of $365-385 million.

Despite this, the company now anticipates its fiscal 2025 covenant leverage ratio—net debt to EBITDA—will be approximately 2.5x, improved from around 2.8x at the end of fiscal 2024.

This outcome surpasses earlier expectations, as Mobico had initially described the sale’s effect on leverage as “broadly neutral.”

The company reiterated its adjusted operating profit forecast for fiscal 2025, excluding the School Bus segment, within £180-195 million.

Mobico also highlighted that the final balance sheet position for School Bus at closing will trigger further impairment and the reclassification of foreign exchange and net investment hedge reserves.

This is expected to result in a non-underlying charge in the first half of 2025, with results due on September 9.

As disclosed before, the deal includes a $70 million earn-out tied to School Bus hitting specified revenue, EBITDA, and free cash flow milestones.

Shares of Mobico are currently priced at 29.00 pence, with RBC maintaining a Sector Perform rating and a 35 pence price target.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Standard Chartered (LSE:STAN) has launched spot trading services for bitcoin and ether at its U.K. division, focusing on institutional investors amid rising demand for cryptocurrency exposure.

The bank revealed on Tuesday that it is the first global systemically important bank to deliver secure, regulated, and scalable access to spot trading of bitcoin and ether with physical settlement.

Institutional participants—including corporations, investors, and asset managers—can now trade these digital currencies through familiar foreign exchange platforms.

Additionally, Standard Chartered intends to roll out non-deliverable forwards trading shortly, as stated by the bank.

Chief Executive Bill Winters commented, “As client demand accelerates further, we want to offer clients a route to transact, trade and manage digital asset risk safely and efficiently within regulatory requirements.”

This launch marks a broadening of Standard Chartered’s digital asset services, reflecting financial institutions’ response to growing institutional interest in cryptocurrencies.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities saw slight gains on Tuesday, with investors looking beyond the fluctuating tariff landscape and focusing instead on the start of the corporate earnings season across Europe and the U.S.

By 07:05 GMT, Germany’s DAX index was up 0.3%, France’s CAC 40 increased by 0.2%, and the U.K.’s FTSE 100 rose 0.1%.

Earnings season takes center stage

Despite a rocky start to the week following President Donald Trump’s announcement of 30% tariffs on European Union imports effective August 1, markets in Europe began on a cautiously optimistic note.

Similar tariffs have recently been imposed on Japan, South Korea, Canada, and Brazil, raising concerns about a potential escalation into a global trade conflict.

Yet investors appear to be growing accustomed to the tariff news and are shifting their focus to the upcoming Q2 earnings reports, particularly how ongoing trade tensions might affect corporate profits.

Strong Q2 results from Ericsson

Analysts predict a slight 0.2% decline in STOXX 600 earnings for the quarter, a dip from the previous quarter’s 2.2% growth.

Still, Ericsson (NASDAQ:ERIC) surprised markets with stronger-than-expected adjusted profits in Q2, buoyed by North American sales growth and cost reduction efforts.

UK homebuilder Barratt Developments (LSE:BDEV) posted solid full-year results for 2025 despite a challenging housing market, while credit reporting firm Experian (LSE:EXPN) saw 8% organic revenue growth and reaffirmed its yearly guidance thanks to strong demand across its services.

Across the Atlantic, investors will watch second-quarter earnings from major U.S. banks such as JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), and Citigroup (NYSE:C) later in the day.

S&P 500 profits for the quarter are forecast to rise 5.8%, down from the 10.2% predicted in early April before the trade disputes intensified, according to LSEG data.

Germany’s ZEW survey and U.S. inflation report in focus

Market participants are also set to review Germany’s ZEW economic sentiment index for July and eurozone industrial output for May, looking for clues about regional economic momentum.

However, the main economic event will be the U.S. consumer price index data for June, widely watched for indications on the Federal Reserve’s next moves on interest rates.

Economists expect the CPI to show a 0.3% monthly increase in June, up from 0.1% in May, with the annual inflation rate rising to 2.6% from 2.4%.

China’s growth beats expectations, but slows slightly

Earlier reports showed China’s economy grew 5.2% year-on-year in Q2, just above forecasts of 5.1%, though slightly slower than the 5.4% growth seen in Q1.

Oil prices dip as Russian deadline eases supply concerns

Oil prices retreated Tuesday following President Trump’s announcement of a 50-day deadline for Russia to end the conflict in Ukraine and avoid sanctions, which helped ease fears of immediate supply disruptions.

At 03:05 ET, Brent crude futures fell 0.6% to $68.82 per barrel, while U.S. West Texas Intermediate futures dropped 0.7% to $66.53 per barrel.

Oil had rallied late last week amid speculation that the U.S. might impose harsher tariffs on Russia due to stalled peace talks, but the softened stance has calmed supply worries and led to selling pressure early this week.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold prices edged higher during Tuesday’s Asian trading session, supported by ongoing worries about U.S. President Donald Trump’s trade tariffs, which have sustained safe-haven buying. Additional caution stemmed from uneven economic data released out of China, reinforcing investor caution.

Geopolitical tensions between Russia and Ukraine further bolstered demand for gold, following the U.S. decision to send additional weaponry to Kyiv and threats of stricter sanctions targeting Russia’s oil sector.

Despite these drivers, gold remained mostly confined to a trading range between $3,300 and $3,500 per ounce, as the dollar’s resilience capped larger gains. Other base metals showed only modest movement. Market participants are now focused on forthcoming U.S. consumer price index (CPI) figures, looking for clues on potential interest rate moves.

Spot gold climbed 0.6% to $3,364.26 per ounce, while September gold futures gained 0.4%, reaching $3,373.52 per ounce as of 01:44 ET (05:44 GMT).

Tariff Uncertainty and Geopolitical Risks Support Gold

Tuesday’s rally in gold prices builds on recent strength amid elevated uncertainty surrounding Trump’s recent tariff announcements. Over the past week, the president unveiled steep tariffs on major trading partners, including 30% levies on imports from Mexico and the European Union.

The EU is reportedly preparing retaliatory measures, though Trump has left the door open for trade negotiations. With just over two weeks remaining for talks to avert these tariffs, markets remain uneasy about the potential onset of a renewed global trade conflict.

On the geopolitical front, Trump has granted Russia a 50-day window to negotiate a ceasefire in Ukraine. Yet tensions remain high as Trump publicly criticized Russian President Vladimir Putin, while the U.S. sent additional offensive weapons to Ukraine capable of striking Moscow.

Other precious metals such as silver and platinum held steady but remained below recent highs, after significantly outperforming gold in June. Both metals face increasing resistance after weeks of gains.

Dollar Holds Firm Ahead of CPI Data

The U.S. dollar steadied in Asian markets following strong gains earlier this month. Attention centers on the upcoming U.S. CPI report, which is expected to show a modest rise in both headline and core inflation for June. This data will be closely watched for its implications on inflationary pressures linked to Trump’s tariffs.

Persistent inflation reduces the likelihood of the Federal Reserve cutting interest rates aggressively, as policymakers have expressed caution about easing monetary policy amid trade uncertainties.

Copper Prices Under Pressure After Mixed China Data

Mixed economic signals from China weighed on copper prices, adding to broader risk aversion. On the London Metal Exchange, benchmark copper futures inched up 0.2% to $9,642.20 per ton, while U.S. copper futures rose 0.3% to $5.5460 per pound, stabilizing after a sharp decline from record levels.

China’s GDP growth in Q2 slightly exceeded expectations, buoyed by stimulus efforts and limited trade headwinds from the U.S. However, growth decelerated compared to the previous quarter, with June data on retail sales and fixed asset investment coming in below forecasts.

Industrial output surprised positively, but analysts from ANZ cautioned that the GDP report revealed underlying weakness, with deflationary pressures dampening growth. Beijing’s initial stimulus boost is also expected to fade in the latter half of the year.

As the world’s largest importer of copper, any sign of economic cooling in China could undermine demand for the metal.

Notably, China’s copper imports rebounded in June with a 9% increase, breaking two months of consecutive declines.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices declined modestly during Tuesday’s Asian trading session as investors processed U.S. President Donald Trump’s 50-day warning for Russia to end the conflict in Ukraine, alongside the threat of sanctions on nations continuing to purchase Russian oil.

Traders also evaluated a wave of Chinese economic data released Tuesday, which included second-quarter GDP, industrial production, retail sales, and other significant metrics.

At 21:56 ET (01:56 GMT), September Brent crude futures slipped 0.2% to $69.06 per barrel, while West Texas Intermediate (WTI) futures dropped 0.3%, settling at $66.79 per barrel.

Oil initially rallied Monday following Trump’s announcement but closed nearly 2% lower after he held off on immediate tougher measures, offering a 50-day window.

Trump sets 50-day deadline for Russia to end Ukraine war

On Monday, Trump demanded that Russia reach a peace agreement within 50 days, warning of “secondary sanctions” against countries continuing to import Russian oil should Moscow fail to comply.

While this triggered an initial price surge, crude retreated as traders debated the timing and enforcement of these sanctions.

“The lack of any immediate action and the belief that these threats won’t be carried out help to explain the market reaction,” ING analysts commented in a note.

“However, if Trump does follow through, and the tariff is implemented effectively, it would drastically change the outlook for the oil market. Russia exports more than 7m b/d of crude oil and refined products,” they added.

The largest importers of Russian crude include China, India, and Turkey.

“OPEC’s spare production capacity would not be able to fill the entire shortfall. This would present significant upside to oil prices. Given Trump’s desire for low oil prices, we don’t believe Trump would be keen to follow through with this threat,” the analysts concluded.

Focus shifts to Trump tariffs and China’s GDP outperforming expectations

Last week, Trump announced plans to impose a 30% tariff on most imports from the EU and Mexico starting August 1.

In retaliation, reports on Monday indicated the EU has finalized a list of tariffs targeting $84 billion of U.S. goods, heightening trade tensions with Washington.

Earlier, Trump unveiled new tariffs on Japan, South Korea, Canada, and Brazil, plus a 50% tariff on copper, all set to take effect August 1.

Meanwhile, Monday’s data showed China’s economy grew by 5.2% year-on-year in Q2 2025, slightly surpassing forecasts of 5.1%, buoyed by strong exports and government stimulus.

Additional figures released Tuesday revealed factory output surged beyond expectations in June, while retail sales lagged behind forecasts.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Anglo Asian Mining (LSE:AAZ) reported a notable increase in production for Q2 and the first half of 2025, with the new Gilar mine contributing to a total output of 16,378 gold equivalent ounces in H1. The company maintained positive cash flow and reduced net debt, advancing steadily toward its strategic objective of becoming a mid-tier copper-focused producer by 2029.

About Anglo Asian Mining

Anglo Asian Mining plc is a producer of gold, copper, and silver operating a portfolio of production and exploration assets in Azerbaijan. Listed on the AIM market, the company aims to evolve into a multi-asset, mid-tier copper and gold producer by 2029, with plans to commission four new mines.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Arrow Exploration Corp. (LSE:AXL) announced successful production from two horizontal wells, AB HZ4 and AB HZ5, in the Alberta Llanos field, contributing to total corporate production of 4,600 to 4,800 barrels of oil equivalent per day (boe/d) net. The company remains financially robust with no debt and a cash balance of $13.5 million, providing flexibility for its drilling and exploration programs. This drilling success supports ongoing development plans, with Arrow actively reviewing its schedule to optimize production growth amid changing market conditions.

About Arrow Exploration Corp.

Arrow Exploration Corp. is an oil-focused company operating primarily in Colombia through its subsidiary Carrao Energy S.A. It concentrates on expanding production across key basins including Llanos, Middle Magdalena Valley, and Putumayo. With significant interests linked to Brent light oil pricing and low royalty rates, the company is positioned for strong operating margins and growth potential.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Concurrent Technologies Plc (LSE:CNC) delivered record-breaking results in the first half of 2025, with significant revenue and order intake growth year-over-year. The company continues to secure key strategic design wins, reinforcing confidence in its medium- and long-term growth trajectory. The recent launch of the unique Kratos product has attracted strong market interest. Despite potential headwinds from US contract challenges and global supply chain disruptions, Concurrent remains on course to achieve its full-year targets.

The company’s robust financial performance and strategic developments are key drivers behind its positive score. Technical indicators suggest moderate bullish momentum, although valuation concerns persist due to a high price-to-earnings ratio and a low dividend yield.

About Concurrent Technologies

Concurrent Technologies Plc specializes in the design and manufacture of advanced embedded plug-in cards and systems. Serving telecommunications, defense, security, telemetry, scientific, and aerospace sectors, their products utilize Intel processors and are engineered for high performance and long lifecycle applications, meeting stringent industry standards and supporting numerous embedded operating systems.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.