ADVFN UK Market News

Category: Market News

  • Wall Street Futures Gain Ahead of Oracle, Adobe Earnings as Iran Conflict Remains in Focus: Dow Jones, S&P, Nasdaq

    Wall Street Futures Gain Ahead of Oracle, Adobe Earnings as Iran Conflict Remains in Focus: Dow Jones, S&P, Nasdaq

    U.S. equity futures advanced on Thursday as markets monitored developments in the conflict between the U.S. and Iran, higher oil prices and upcoming inflation data. Oracle (NYSE:ORCL) and Adobe (NASDAQ:ADBE) are also scheduled to report results after the closing bell.

    At 03:02 ET (07:02 GMT), Dow futures gained 213 points, or 0.4%, while S&P 500 futures rose 18 points, or 0.2%. Nasdaq 100 futures were up 15 points, or 0.1%.

    The gains followed declines for Wall Street’s main indices in the previous session as further military exchanges between the U.S. and Iran increased uncertainty surrounding the Strait of Hormuz.

    Brent crude moved above $100 per barrel for the first time since July. Markets are also awaiting U.S. producer and consumer inflation figures scheduled for release this week.

    U.S. Treasury yields increased, with the benchmark 10-year yield reaching 4.84%, its highest level since 2023. The move followed the increase in oil prices and news that the U.S. Treasury would repurchase fewer government bonds in its latest operation than some analysts had anticipated.

    The S&P 500 recorded its third consecutive daily decline on Wednesday.

    “So even though we’re just over a week into September, it’s already living up to its reputation as one of the toughest months of the year for markets,” Deutsche Bank analysts said in a note.

    Apple (NASDAQ:AAPL) shares closed lower after the company introduced a foldable version of its iPhone priced at $1,999.

    Trump Comments on Timing of Iran Conflict

    U.S. President Donald Trump told supporters on Wednesday that he expects the conflict with Iran to end after the November midterm elections.

    The comments came after recent exchanges of air strikes between the U.S. and Iran. The supplied information cited polling suggesting the conflict has affected Trump’s approval ratings and could influence Republican results in the midterm elections. Gasoline prices have also risen since the fighting began in late February.

    Trump accused Tehran of attempting to influence the election.

    An interim ceasefire agreement reached in June did not last, while Trump has previously set other deadlines for ending the conflict.

    The Wall Street Journal reported that senior advisers have told Trump the conflict could continue through the remainder of his presidency, which is scheduled to end in January 2029.

    Oracle Set to Report as AI Spending Remains in Focus

    Oracle is due to publish its latest results after Thursday’s closing bell.

    The company has previously outlined plans for increased spending and debt financing as it develops additional artificial intelligence infrastructure.

    Oracle has entered into agreements with companies including Meta Platforms and OpenAI as part of its cloud and AI operations.

    In June, Oracle said it expected to raise around $40 billion through debt and equity financing next year, compared with a previous $20 billion at-the-market equity issuance.

    The company forecast fiscal 2027 capital expenditure of $95 billion. That compared with an analyst consensus estimate of $67.66 billion, according to LSEG data cited by Reuters.

    Adobe Earnings Due After Closing Bell

    Adobe is also scheduled to report results after U.S. markets close on Thursday.

    The report will be the company’s first since the departure of Chief Financial Officer Dan Durn was announced in June. Chief Executive Shantanu Narayen also stepped down earlier in the year.

    Adobe previously increased its annual revenue and profit forecasts. Its AI-related annual recurring revenue exceeded $500 million at the end of the second quarter.

    The company continues to develop AI-related products while competing with design software providers including Figma and Canva.

    ECB Expected to Raise Interest Rates

    The European Central Bank is widely expected to increase interest rates following its latest policy meeting.

    The decision comes against a backdrop of higher energy prices associated with the Middle East conflict. European natural gas prices have reached their highest levels since 2023.

    According to the supplied information, markets had fully priced in a 25-basis-point rate increase.

    ING analysts described the expected move as an “insurance hike,” designed to “strengthen its credibility and to preempt any possible indirect or even second-round effects from the current energy price shock.”

  • Market Open: ECB Decision, Currys Revenue Growth

    Market Open: ECB Decision, Currys Revenue Growth

    FTSE 100 opens flat ahead of the ECB decision as Currys reports 7% sales growth, Fevertree posts higher revenue and Brent remains in focus.

    Market Overview

    The FTSE 100 opened broadly unchanged at 10,669.90 as investors awaited the European Central Bank’s interest-rate decision, with elevated oil prices and continued US-Iran tensions keeping the wider backdrop cautious. The Euronext 100 was also broadly unchanged at 1,896.63, while Germany’s DAX gained 0.11 per cent to 25,603.96. In the US, the Nasdaq closed lower at 26,253.34 and the S&P 500 fell to 7,636.36.

    Commodity markets were mixed, with copper, gold and Brent crude moving lower while natural gas rose. Brent remained in focus as attacks on shipping and continued disruption around the Strait of Hormuz sustained concerns over global energy supplies. Against sterling, the US dollar and euro weakened marginally, while the Swiss franc, Japanese yen and Australian dollar strengthened slightly. Bitcoin was down. Markets are also focused on the ECB’s policy guidance and upcoming US inflation data.

    Market Numbers

    FTSE 100: Down (-0.001%), 10,669.90
    Euronext 100: Down (-0.001%), 1,896.63
    DAX: Up (+0.11%), 25,603.96
    NASDAQ: Down, 26,253.34
    S&P 500: Down, 7,636.36

    In the Headlines

    Sales growth – Currys (LSE:CURY)
    The consumer technology retailer reported a 7% increase in group like-for-like revenue for the first 17 weeks, with UK & Ireland revenue up 6% and the Nordics up 9%. Currys maintained its full-year guidance and said year-end net cash is expected to remain well above its £100 million target.

    Revenue and EBITDA growth – Fevertree Drinks (LSE:FEVR)
    The drinks group reported an 8% constant-currency increase in first-half Fever-Tree brand revenue to £183.6 million, while adjusted EBITDA rose 9% to £20.1 million. Fevertree maintained its full-year guidance and announced a new £60 million share buyback programme.

    Currencies (vs GBP)

    USD: Down (-0.01%), $1.355
    CHF: Up (+0.00%), Fr.1.0975
    EUR: Down (-0.00%), €1.1647
    JPY: Up (+0.03%), ¥208.058
    AUD: Up (+0.01%), $1.8762
    Bitcoin (BTC/GBP): Down, £57,532.33

    Commodities

    Copper: Down
    Gold: Down
    Brent Crude: Down
    Natural Gas: Up

  • European Stocks Edge Higher Ahead of ECB Rate Decision: DAX, CAC, FTSE100

    European Stocks Edge Higher Ahead of ECB Rate Decision: DAX, CAC, FTSE100

    European equities moved slightly higher in early trading on Thursday as investors awaited the European Central Bank’s interest-rate decision later in the day.

    The pan-European STOXX 600 gained 0.1%, following a 1.4% decline on Wednesday that left the index at its lowest closing level since late July.

    Markets in Frankfurt, Paris and London were little changed as investors monitored monetary policy expectations alongside higher energy prices. Brent crude remained above $100 a barrel.

    Markets Price In 25-Basis-Point ECB Rate Increase

    Money markets had almost fully priced in a 25-basis-point interest-rate increase from the ECB, which would take its deposit facility rate to 2.50%.

    Expectations have changed from several weeks earlier, when markets largely anticipated that the central bank would leave rates unchanged.

    The change has coincided with higher oil prices following military developments in the Middle East, including attacks involving oil tankers and regional infrastructure in the Persian Gulf.

    Higher energy prices can increase costs for European manufacturers, transport operators and consumers, adding to inflationary pressures.

    Preliminary Eurostat data showed annual Eurozone inflation rising to 3.3%, with energy prices increasing 14.3%.

    Investors Await ECB Economic Projections

    Eurozone inflation remains above the ECB’s 2% target, with investors awaiting comments from ECB President Christine Lagarde following Thursday’s policy announcement.

    With a 25-basis-point increase largely reflected in market pricing, attention is also focused on the ECB’s updated staff macroeconomic projections, including its inflation forecasts for 2027.

    The projections and Lagarde’s press conference could provide further information about how policymakers assess the outlook for interest rates. The ECB had not announced its decision at the time covered by the supplied information.

    U.S. Inflation Data Due Friday

    Investors are also awaiting Friday’s U.S. Consumer Price Index report.

    The inflation figures will be the final major U.S. economic data release cited in the supplied information ahead of the Federal Reserve’s policy meeting on 15-16 September.

    The data could affect market expectations for U.S. monetary policy, although the outcome of the Federal Reserve meeting remains subject to policymakers’ decision.

  • European Natural Gas Prices Hold Near Multi-Year Highs Amid Supply Risks

    European Natural Gas Prices Hold Near Multi-Year Highs Amid Supply Risks

    European and British wholesale natural gas prices remained near multi-year highs on Thursday following gains in the previous session, as investors monitored the potential impact of the Persian Gulf conflict on global energy supplies.

    The benchmark Dutch front-month gas contract rose 0.5% to €79.64 per megawatt-hour, remaining close to the highest level since 2023 reached on Wednesday.

    In Great Britain, the equivalent NBP wholesale gas contract gained 0.6% to 198.00 pence per therm, near its highest level since late 2022.

    Strait of Hormuz Risks Remain in Focus

    The latest moves followed further military developments in the Middle East. Iranian-backed Houthis in Yemen launched coordinated attacks on several cities in Saudi Arabia, according to the supplied information.

    The escalation followed U.S. strikes on Iranian oil tankers and a subsequent Iranian missile attack on a U.S. military base in Jordan.

    The conflict has increased uncertainty surrounding maritime traffic through the Strait of Hormuz. Approximately 20% of global liquefied natural gas traffic passes through the waterway, with Qatar accounting for a substantial proportion of those shipments.

    Crude oil was trading above $100 a barrel, while the possibility of restrictions on Persian Gulf shipping has increased attention on competition between European and Asian buyers for available LNG cargoes from the Atlantic basin.

    European Gas Storage Around 62% Full

    The supply uncertainty comes as Europe approaches the end of its summer gas storage injection period.

    According to Gas Infrastructure Europe data cited in the supplied information, European underground storage facilities were approximately 62% full.

    That level was around 17 percentage points below the five-year seasonal average.

    Storage levels and the availability of LNG imports are among the factors affecting European gas supply ahead of the winter period.

    ECB Rate Decision Due

    Higher energy costs also form part of the economic backdrop to the European Central Bank’s monetary policy decision later on Thursday.

    Money markets had almost fully priced in a 25-basis-point interest-rate increase, which would take the ECB’s deposit facility rate to 2.50%.

    Investors will also be monitoring comments from ECB President Christine Lagarde and the Governing Council for information about the outlook for monetary policy.

  • Eurozone Bond Yields Hold Near Multi-Year Highs Ahead of ECB Rate Decision

    Eurozone Bond Yields Hold Near Multi-Year Highs Ahead of ECB Rate Decision

    Eurozone government bond yields remained near multi-year highs on Thursday as investors awaited the European Central Bank’s interest-rate decision following an increase in inflation and energy prices.

    The ECB is widely expected to raise interest rates by 25 basis points at its Governing Council meeting in Frankfurt, which would take the deposit facility rate to 2.50%.

    Germany’s two-year government bond yield, which is sensitive to changes in monetary policy expectations, traded around 3.037%, close to its highest level in two years.

    The benchmark German 10-year Bund yield stood at 3.432%, remaining near the 15-year high reached earlier in the week.

    Investors were also awaiting updated ECB economic projections and comments from President Christine Lagarde regarding the outlook for monetary policy.

    Eurozone Inflation Rises to 3.3%

    Expectations for an ECB rate increase have changed since mid-summer, when markets had largely anticipated that interest rates would remain unchanged.

    Brent crude was trading above $100 a barrel amid the continuing military conflict in the Persian Gulf, increasing energy costs for European economies that depend on imported energy.

    Eurozone inflation increased to 3.3% in August, with the energy component rising 14.3%.

    Market participants expect the ECB’s updated staff projections to include higher estimates for medium-term Harmonised Index of Consumer Prices inflation, according to the supplied information.

    A 25-basis-point rate increase was fully priced into financial markets, shifting attention towards Lagarde’s press conference for indications about potential subsequent policy decisions.

    Investors will be assessing whether the expected September increase is followed by further monetary tightening during the autumn. The ECB has not yet made the September policy decision described in the supplied information.

    U.S. CPI Data in Focus Ahead of Federal Reserve Meeting

    Outside the eurozone, investors are also awaiting Friday’s U.S. Consumer Price Index report.

    The inflation data will follow U.S. nonfarm payroll figures that exceeded expectations in the previous week.

    The Federal Reserve is scheduled to hold its next Federal Open Market Committee meeting on 15-16 September.

    The U.S. inflation figures could affect market expectations for the Federal Reserve’s interest-rate policy, although the outcome of the meeting remains subject to the central bank’s decision.

  • Kering, LVMH, Hermès and Dior Shares Fall as French Bond Yields Rise

    Kering, LVMH, Hermès and Dior Shares Fall as French Bond Yields Rise

    French luxury shares declined on Wednesday, with Kering (EU:KER) falling 4.97%, the largest decline among CAC 40 constituents.

    LVMH (EU:MC) fell 3.59%, Christian Dior (EU:CDI) declined 3.28% and Hermès (EU:RMS) lost 2.32%.

    The declines coincided with an increase in French government bond yields. The yield on the 10-year French OAT rose to 4.1% as oil prices increased.

    Higher bond yields can affect the valuation of companies trading at higher earnings multiples. Kering’s price-to-earnings ratio was above 40, according to the supplied information.

    Luxury Shares Extend 2026 Declines

    The latest moves also came amid a broader decline in luxury stocks since the beginning of 2026.

    The sector has faced uncertainty surrounding demand from China as well as changes to analyst recommendations. The supplied information cited HSBC’s recent downgrade of LVMH as one example.

    Over the past month, Kering shares have declined 18.98%, while LVMH has fallen 14.32%.

    Hermès has lost 13.85% over the same period and Christian Dior has declined 13.45%.

    The supplied information does not provide sufficient evidence to determine whether any of the four stocks represents a buying opportunity following these declines.

  • FTSE 100 Edges Higher Ahead of ECB Rate Decision

    FTSE 100 Edges Higher Ahead of ECB Rate Decision

    The FTSE 100 edged higher on Thursday as investors awaited the European Central Bank’s interest-rate decision while monitoring developments in the U.S.-Iran conflict and oil markets.

    The FTSE 100 was up 0.06% at 03:18 ET (07:18 GMT). Elsewhere in Europe, Germany’s DAX gained 0.12% and France’s CAC 40 rose 0.30%.

    Sterling traded at $1.3554 against the U.S. dollar, up 0.07% on the day.

    Markets were awaiting the ECB’s policy announcement, with a 25-basis-point increase across all three benchmark interest rates priced in as near-certain.

    Strait of Hormuz Traffic Remains Below Recent Average

    Iranian state media reported that projectiles struck several locations along Iran’s southern coastline in Sirik early Thursday, with explosions also reported across Minab County and Qeshm Island.

    Vessel transits through the Strait of Hormuz declined to seven on Wednesday from 12 a day earlier, according to preliminary ship-tracking data cited by Reuters. The figure was below the 10-day average of 14 vessels.

    Some ships were operating with their transponders switched off, meaning the data may not capture all vessel movements.

    CBS News reported that multiple U.S. military aircraft were damaged by Iranian ballistic missile strikes on the Al Azraq airbase in Jordan early Wednesday, citing sources with direct knowledge of the matter.

    According to the report, around eight F-15 aircraft sustained light damage and subsequently returned to service, while an A-10 Thunderbolt lost a wing. U.S. forces fired more than 30 Patriot missiles in response, CBS News reported.

    Iran’s Islamic Revolutionary Guard Corps said the attacks were retaliation for U.S. strikes on five Iranian oil tankers on Tuesday.

    Speaking at the Republican midterm convention in Dallas on Wednesday, U.S. President Donald Trump said Washington was “winning” the conflict and predicted that oil prices would decline after the war ended following November’s elections. He also left open the possibility of negotiations.

    ING analysts said current signals “point to further escalation, keeping upside pressure firmly in place,” adding that significant disruption to Strait of Hormuz flows could tighten the oil market “more sharply” than developments in recent weeks had indicated.

    ING also cited increased Chinese activity in the physical oil market, particularly in the North Sea, while noting that Chinese crude imports remain below year-earlier levels. The analysts said Beijing’s purchasing behaviour would be “crucial to the outlook.”

    Brent Crude Trades Above $100 a Barrel

    Brent crude futures for November delivery declined 0.37% to $100.89 a barrel, while October U.S. West Texas Intermediate futures fell 0.23% to $95.83.

    December gold futures were down 0.08% at $4,456.97 an ounce, while spot gold gained 0.26% to $4,413.22.

    In UK foreign policy developments, Foreign Secretary Ed Miliband described Israel’s decision to close London’s consulate in Jerusalem as “regrettable and damaging.”

    UN special rapporteur Francesca Albanese described a UK-led ban on imports from illegal Israeli settlements as “potentially seismic,” while saying it should also cover East Jerusalem and Gaza.

    UK Corporate Updates

    Associated British Foods (LSE:ABF) said Primark plans to introduce home delivery in the UK, while like-for-like sales are expected to decline 3% in the fourth quarter to 12 September.

    Currys (LSE:CURY) reported 7% like-for-like sales growth in the first quarter, citing demand for cooling products during the summer heatwave and growth in its Nordic operations.

    THG (LSE:THG) reported that first-half adjusted EBITDA more than doubled to £42.8 million. The company said EU parcel duties are expected to limit third-quarter revenue growth to approximately 2%.

  • Currys Like-for-Like Revenue Rises 7% in First 17 Weeks

    Currys Like-for-Like Revenue Rises 7% in First 17 Weeks

    Currys (LSE:CURY) reported a 7% increase in group like-for-like revenue for the 17 weeks ended 29 August 2026, with growth across both the UK & Ireland and Nordic businesses.

    Like-for-like revenue increased 6% in the UK & Ireland and 9% in the Nordics. The company reported higher sales through both stores and online channels during the period.

    Currys also recorded growth across newer product categories, business-to-business operations and services. The company said it increased market share across most major categories despite broadly flat market conditions in the UK.

    Gross margins remained stable during the period.

    iD Mobile Subscribers Increase 16%

    Currys reported continued growth in recurring services, with the number of iD Mobile subscribers increasing 16% to more than 2.7 million.

    The retailer also reported increased adoption of its flexpay offering.

    Currys maintained its full-year guidance and said it continues to expect year-end net cash to be well above its £100 million target.

    The company is also progressing a £50 million share buyback programme, with almost half of the programme completed at the time of the trading update.

    The update was issued by Group Chief Executive Fredrik Tønnesen.

    Currys confirmed that its 2026 annual general meeting is being held in London on 10 September 2026. Interim results covering the 26 weeks ending 31 October 2026 are scheduled to be published on 17 December 2026.

    More about Currys plc

    Currys plc is a consumer technology retailer operating through stores and online channels.

    The group trades under the Currys brand in the UK & Ireland and Elkjøp in the Nordic region, with a total of 691 stores across six countries.

    Its operations also include business-to-business services, the iD Mobile virtual mobile network, repair facilities and a European distribution network.

  • THG H1 Revenue Rises 7.2% as Adjusted EBITDA More Than Doubles

    THG H1 Revenue Rises 7.2% as Adjusted EBITDA More Than Doubles

    THG (LSE:THG) reported group revenue of £828.7 million for the six months ended 30 June 2026, an increase of 7.2% year on year and ahead of the company’s guidance.

    Adjusted EBITDA more than doubled to £42.8 million, while the group adjusted EBITDA margin increased by 210 basis points to 5.2%.

    THG also reported its highest first-half free cash flow since 2021. Cash and available facilities stood at £238.7 million at the end of the period, while net debt was £329.7 million.

    Myprotein Revenue Rises 9.2%

    THG Nutrition recorded a 9.2% increase in Myprotein revenue, while gross margin reached 44.6%.

    Adjusted EBITDA for the division more than tripled compared with the corresponding period a year earlier.

    THG cited pricing, product innovation, VAT benefits and licensing partnerships among the factors affecting the division’s results. Licensing agreements also generated royalty income and expanded the availability of Myprotein products through third-party retail channels.

    THG Beauty Revenue Increases 5.9%

    THG Beauty reported revenue growth of 5.9%, while adjusted EBITDA increased by almost 24%.

    The company said Lookfantastic and Dermstore increased their market shares during the period. Trading was also supported by the addition of prestige beauty brands and demand for Korean beauty products.

    THG continued to introduce artificial intelligence-based tools across its digital operations, including technology designed to support customer interactions and product discovery.

    More about THG

    THG PLC is a consumer brands group focused primarily on nutrition and beauty products.

    Its nutrition operations include Myprotein, which sells sports nutrition and related products through digital and third-party retail channels.

    THG Beauty operates e-commerce platforms including Lookfantastic and Dermstore, selling beauty and skincare products.

    The group also uses licensing and business-to-business partnerships to distribute its brands through channels outside its direct-to-consumer platforms.

  • Physiomics Secures Contracts Worth More Than £205,000

    Physiomics Secures Contracts Worth More Than £205,000

    Physiomics (LSE:PYC) has secured new contracts with a combined value of more than £205,000, taking the total value of awards received over the past four months to more than £750,000.

    The company said the value of contracts awarded during the four-month period is approaching its total revenue for the 2024-2025 financial year.

    The latest contracts cover multiple service areas and involve Physiomics’ mathematical modelling and data science capabilities in drug development and personalised medicine.

    Physiomics also reported international interest in its cancer treatment modelling for potential commercial and research collaborations.

    Physiomics Updates Operations and Management

    Alongside the contract awards, Physiomics has been implementing changes to its commercial and operational activities, including measures covering costs and resource allocation.

    The company has also promoted Jesse Thissen to chief operating officer.

    Physiomics said it is upgrading its IT infrastructure, quality standards and internal processes as it seeks to support larger and more complex projects.

    The board believes the recent contract awards reflect initial progress from the company’s increased commercial focus and changes to its operational structure.

    More about Physiomics

    Physiomics plc provides mathematical modelling, data science, biostatistics and bioinformatics services for drug development and personalised medicine.

    Its capabilities include modelling and simulation, biostatistics, data science and biological analysis. The company also operates its proprietary Virtual Tumour modelling technology.

    Physiomics said it has contributed to more than 140 commercial projects involving over 125 drug targets and medicines.

    Its customers have included Merck KGaA, Astellas, Bicycle Therapeutics, Numab Therapeutics and Cancer Research UK.