Category: Market Summary

  • Market Overview: UK shares open little changed as Fed reassurance lifts Europe

    Market Overview: UK shares open little changed as Fed reassurance lifts Europe

    UK equities opened little changed on Thursday, with the FTSE 100 flat at 10,815.79 against Wednesday’s close of 10,816.14, as investors weighed renewed tension around the Strait of Hormuz against a stronger-than-expected UK retail sales reading. The Euronext 100 eased 0.09 per cent to 1,897.51 at the open and Germany’s DAX slipped 0.47 per cent to 25,596.46, even as European equities looked to build on a recovery that snapped a two-week slide following reassurance from the Federal Reserve. Wall Street’s overnight session pointed to a firmer tone into the UK open, with the Nasdaq Composite closing up 1.69 per cent at 26,418.30 and the S&P 500 adding 1.14 per cent to finish at 7,637.76.

    Commodities were broadly softer at the open, with copper, gold, Brent crude and natural gas all trading lower; Brent extended a third consecutive daily decline as supply concerns eased and diplomatic efforts around the Middle East came into focus. Bitcoin moved against that trend, rising versus sterling. Sterling itself was little changed across major crosses, edging fractionally firmer against the euro, yen and Australian dollar while softening slightly against the US dollar and Swiss franc, as markets continued to digest the recent shift in Federal Reserve messaging.


    Market Numbers

    FTSE 100: Flat (0.00%), 10,815.79
    Euronext 100: Down (-0.09%), 1,897.51
    DAX: Down (-0.47%), 25,596.46
    NASDAQ: Up (+1.69%), 26,418.30
    S&P 500: Up (+1.14%), 7,637.76


    In the Headlines

    Kalahari Licence Sale – Galileo Resources PLC (LSE:GLR)
    Galileo Resources provided an update on the sale of two of its Kalahari Copper Belt licences. The update advances the group’s disposal process for these non-core assets and matters to shareholders as confirmation of terms and completion would sharpen the company’s near-term portfolio focus.

    Azteca Funding Round – Cadence Minerals PLC (LSE:KDNC)
    Cadence Minerals confirmed it has raised £1.80 million to advance its Azteca project. The fundraising gives the company additional working capital, immediately relevant to investors tracking the project’s progress toward its next development milestones.


    Currencies (vs GBP)

    USD: Flat (0.00%), $1.3356
    CHF: Down (-0.01%), Fr.1.1018
    EUR: Up (+0.01%), €1.1639
    JPY: Up (+0.01%), ¥208.5705
    AUD: Up (+0.01%), $1.8772
    Bitcoin (BTC/GBP): Up (+2.02%), £58,200.5

    Commodities

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

  • European Stocks Rise as Oil Prices and US Treasury Yields Retreat: DAX, CAC, FTSE100

    European Stocks Rise as Oil Prices and US Treasury Yields Retreat: DAX, CAC, FTSE100

    European equities advanced on Thursday, extending gains from the previous session as oil prices declined and government bond markets stabilised following the Federal Reserve’s interest-rate increase on Wednesday.

    Brent crude futures fell towards $104 a barrel, continuing their retreat after reports of additional Saudi oil shipments through Oman helped ease concerns about supply disruptions.

    US Treasury yields also declined during European trading as investors assessed the Federal Reserve’s commitment to controlling inflation following its latest rate increase.

    Bank of England Holds Interest Rates at 3.75%

    The Bank of England kept its benchmark interest rate unchanged at 3.75% on Thursday despite concerns about persistent inflation.

    The Monetary Policy Committee voted six to three in favour of maintaining the current rate.

    Catherine Mann, Megan Greene and Huw Pill supported a 25-basis-point increase.

    The decision came as European markets continued to assess the implications of monetary policy decisions in the United States and the United Kingdom.

    DAX Leads Gains Across Major European Indices

    Germany’s DAX rose 1%, while the UK’s FTSE 100 and France’s CAC 40 each gained 0.8%.

    The advances coincided with lower oil prices and declining US Treasury yields, providing a more supportive backdrop for equities after the previous session’s bond-market volatility.

    Several company-specific developments also influenced trading across European markets.

    Bayer, Next and Wizz Air Advance on Company Updates

    German pharmaceutical group Bayer (TG:BAYN) edged higher after the US Food and Drug Administration approved Kerendia for adults with type 1 diabetes and chronic kidney disease.

    UK clothing and homeware retailer Next (LSE:NXT) also gained after reporting improved first-half earnings and raising its full-year profit guidance.

    Shares in Wizz Air Holdings (LSE:WIZZ) advanced after the low-cost airline increased its second-quarter revenue per available seat kilometre (RASK) outlook.

    The company also outlined its medium-term strategy through the 2030 financial year, targeting revenue of €10 billion and an earnings before interest and tax (EBIT) margin of 10%.

    Volvo Car Rises on Electrified Vehicle Plans; Bilfinger Falls

    Volvo Car (TG:8JO1) shares climbed after the Swedish carmaker announced plans to introduce 13 new electrified vehicles tailored to regional markets by the end of 2030.

    The company described the programme as its largest product launch initiative to date.

    In contrast, industrial services provider Bilfinger (TG:GBF) recorded a sharp decline after reducing its revenue outlook for 2026.

    The contrasting share-price movements reflected investors’ responses to individual corporate announcements against a backdrop of broader gains in European equity markets.

  • Market Open: Next Interim Dividend, Galliford Try Profit Growth

    Market Open: Next Interim Dividend, Galliford Try Profit Growth

    FTSE 100 opens little changed as Next declares a dividend and Galliford Try reports profit growth. European stocks advance while Brent crude falls.

    Market Overview

    The FTSE 100 opened up at 10,784.86 on Thursday, as investors assessed the Federal Reserve’s interest-rate decision ahead of the Bank of England’s policy announcement. European markets advanced, with the Euronext 100 gaining 0.34 per cent and Germany’s DAX rising 0.78 per cent. In the US, the Nasdaq closed marginally lower at 25,978.42, while the S&P 500 declined to 7,551.81.

    Commodity markets were mixed, with copper and gold advancing while Brent crude and natural gas declined. Oil prices remained under pressure as concerns over Middle East supply disruptions eased. Against sterling, the US dollar, euro, Japanese yen and Australian dollar strengthened marginally, while the Swiss franc weakened slightly. Bitcoin moved marginally higher as investors continued to assess the outlook for monetary policy and geopolitical developments.


    Market Numbers

    FTSE 100: Up (+0.01%), 10,784.86

    Euronext 100: Up (+0.34%), 1,898.13

    DAX: Up (+0.78%), 25,737.31

    NASDAQ: Down, 25,978.42

    S&P 500: Down, 7,551.81


    In the Headlines

    Half-Year Results and Dividend – Next (LSE:NXT)

    Clothing and homeware retailer Next has published its half-year results for the 2026/27 financial year and declared an interim dividend of 98 pence per share, payable on 4 January 2027. The announcement provides investors with updated financial information and details of the company’s shareholder distributions.

    Adjusted Profit Rises 24.2% – Galliford Try (LSE:GFRD)

    Construction group Galliford Try reported a 24.2 per cent increase in adjusted pre-tax profit to £55.9 million for the 2026 financial year. The improvement highlights stronger underlying profitability and provides investors with an updated assessment of the group’s annual performance.


    Currencies (vs GBP)

    USD: Up (+0.08%), $1.3392

    CHF: Down (-0.02%), Fr.1.1042

    EUR: Up (+0.02%), €1.1666

    JPY: Up (+0.12%), ¥208.463

    AUD: Up (+0.03%), $1.8817

    Bitcoin (BTC/GBP): Up, £57,080.54


    Commodities

    Copper: Up

    Gold: Up

    Brent Crude: Down

    Natural Gas: Down

  • FTSE 100 Rises 0.71% Following Fed Rate Increase Ahead of Bank of England Decision

    FTSE 100 Rises 0.71% Following Fed Rate Increase Ahead of Bank of England Decision

    The FTSE 100 advanced on Thursday as investors assessed the Federal Reserve’s latest interest-rate increase, developments in the US-Iran conflict and the forthcoming Bank of England monetary policy decision.

    The UK benchmark gained 0.71% as of 07:12 GMT, while Germany’s DAX rose 0.68% and France’s CAC 40 increased 0.58%. Sterling strengthened 0.10% against the US dollar to $1.3398.

    The Federal Reserve raised its benchmark interest rate by 25 basis points on Wednesday to a range of 3.75% to 4%, marking its first increase in more than three years. The central bank also signalled the possibility of one further increase before an extended period of unchanged rates.

    Investors were awaiting the Bank of England’s policy announcement later on Thursday. Analysts broadly expected the central bank to maintain its benchmark rate at 3.75%, with a projected six-to-three vote.

    The decision follows an increase in UK inflation to 3.1%, partly driven by higher fuel costs. ING economist James Smith said there was limited evidence that the energy-price shock was spreading into underlying inflation.

    UBS noted that Prime Minister Andy Burnham and Chancellor John Healey had reiterated their commitment to fiscal discipline ahead of the October Budget, despite rising gilt yields adding pressure to the government’s fiscal position.

    Geopolitical developments also remained in focus after US President Donald Trump indicated that the conflict with Iran could be approaching its conclusion and said he had communicated directly with Tehran.

    Shipping activity through the Strait of Hormuz remained substantially below recent levels. Reuters ship-tracking data showed that three commodity vessels passed through the waterway on Wednesday, compared with 12 the previous day and a 10-day average of 17.

    Meanwhile, fighting intensified between Saudi-backed Yemeni government forces and the Houthis. The Houthis claimed to have shot down a Saudi F-15 aircraft, while reports indicated that Saudi Arabia had sought air-defence assistance from France, the UK, Pakistan and Egypt.

    Oil prices declined following reports that Saudi Arabia had offered additional crude supplies through Oman.

    Brent crude fell 2.07% to $103.64 per barrel, while West Texas Intermediate declined 1.68% to $100.72.

    Gold futures slipped 0.64% to $4,359.20 per ounce, although spot gold increased 1.32% to $4,318.99.

    UK Corporate News

    Capricorn Energy (LSE:CNE) agreed to revised terms for a $396 million takeover by Norway’s DNO after rival bidder Genel Energy withdrew from the process.

    Under the revised agreement, DNO will pay $5.214 per share entirely in cash, replacing its previous proposal of $4.224 in cash and a $0.99 dividend per share.

    Next (LSE:NXT) raised its profit guidance for the 2026/27 financial year by £12 million to £1.255 billion, marking its fourth upgrade this year.

    The retailer reported a 10.5% increase in first-half profit, supported by sales during the hot summer weather.

    Drax (LSE:DRX) said it expects 2026 adjusted EBITDA to be around the upper end of analyst consensus, following strong operational performance during the summer and the contribution from its recently acquired Bluefield Solar Income Fund.

  • European Stocks Rise as Oil Prices Stabilise Ahead of Fed Decision: DAX, CAC, FTSE100

    European Stocks Rise as Oil Prices Stabilise Ahead of Fed Decision: DAX, CAC, FTSE100

    European stock markets moved higher on Wednesday as the recent increase in crude oil prices paused and government bond yields eased from recent highs. Investors were also awaiting the Federal Reserve’s interest rate decision later in the day.

    The German DAX gained 0.4%, while France’s CAC 40 and the UK’s FTSE 100 each advanced 0.6%.

    Sterling weakened against other major currencies after official figures showed that UK inflation increased in August, largely reflecting higher motor fuel prices.

    UK Inflation Reaches Five-Month High

    UK annual consumer price inflation rose to 3.1% in August from 2.9% in July, matching market expectations and reaching its highest level in five months.

    Higher motor fuel prices were a principal contributor to the increase.

    Core inflation, which excludes energy, food, alcohol and tobacco, remained unchanged at 2.6%.

    The pound declined against other major currencies following the release of the data.

    Investors continued to monitor inflation and bond market developments ahead of the Federal Reserve’s monetary policy announcement.

    Vallourec, Barratt Redrow and Nordex Advance

    Several European companies recorded share price gains following corporate announcements.

    Vallourec (EU:VK), a supplier of tubular solutions for the oil, gas and new energy industries, advanced in Paris after securing a contract from Subsea7 for an offshore project in Brazil.

    British housebuilder Barratt Redrow (LSE:BTRW) also gained after reporting higher profit for fiscal 2026, supported primarily by revenue growth.

    In Germany, wind turbine manufacturer Nordex (TG:NDX1) moved higher after receiving a 91-megawatt order from TEUT Energieprojekte GmbH.

    WH Smith Declines Following Profit Guidance Update

    WH Smith (LSE:SMWH) shares fell after the retailer said it expects annual pre-tax profit to be at the lower end of its previously announced guidance range.

    The update contrasted with gains elsewhere in European equity markets.

    European stocks were broadly higher during the session, with movements in oil prices, bond yields and expectations surrounding the Federal Reserve’s interest rate decision remaining in focus.

  • US Futures Advance Before Fed Announcement as Crude Retreats and OpenAI Funding Talks Emerge: Dow Jones, S&P, Nasdaq, Wall Street

    US Futures Advance Before Fed Announcement as Crude Retreats and OpenAI Funding Talks Emerge: Dow Jones, S&P, Nasdaq, Wall Street

    US equity futures edged higher on Wednesday ahead of the Federal Reserve’s monetary policy announcement, while oil prices declined following an unexpected increase in American inventories. Investors also assessed developments in artificial intelligence, including comments from Meta Chief Executive Mark Zuckerberg and a report about potential financing for OpenAI.

    At 07:12 GMT, Dow Jones futures advanced 129 points, or 0.3%. S&P 500 futures increased 21 points, also 0.3%, and Nasdaq 100 futures rose 145 points, or 0.5%.

    The gains followed a decline in Wall Street’s main indices during the previous session, when US government bond yields approached their highest levels in nearly two decades.

    The rise in yields coincided with higher crude prices as the conflict in the Middle East expanded, adding to market concerns about inflation and the possibility of further interest rate increases.

    Vital Knowledge analysts described a feedback cycle in which rising oil prices contribute to higher bond yields, affect investor sentiment and increase pressure on central banks to tighten monetary policy.

    Federal Reserve Rate Increase Expected

    Investors broadly anticipated a quarter-percentage-point rate increase when the Federal Open Market Committee concluded its two-day meeting on Wednesday.

    A 25-basis-point rise would take the federal funds rate to a range of 3.75% to 4%.

    Persistent inflation and a resilient US labour market have contributed to expectations that the central bank will increase borrowing costs.

    President Donald Trump has advocated lower interest rates. The Federal Reserve, meanwhile, faces the potential trade-off between containing inflation and limiting the effects of higher borrowing costs on economic activity and employment.

    Attention will also turn to Federal Reserve Chair Kevin Warsh’s comments following the announcement.

    Investors are seeking indications of whether the anticipated increase would be a one-off adjustment or the first move in a broader tightening cycle. Warsh has previously opposed providing detailed forward guidance on interest rates.

    Brent and WTI Fall but Remain Above $100

    Oil futures declined after US inventory data showed an unexpectedly large increase in crude stocks.

    At 07:06 GMT, Brent futures were down 1.2% at $107.47 a barrel. West Texas Intermediate futures fell 1.8% to $103.94.

    Despite Wednesday’s declines, both benchmarks had risen by at least 5% over the preceding week as disruptions to Middle Eastern oil infrastructure and shipping affected supply expectations.

    Attacks by Iran-backed Houthi militants prompted Saudi Arabia to close an east-west pipeline that had provided an alternative route for crude exports bypassing the Strait of Hormuz.

    The country also suspended loading operations at Yanbu. Reuters reported that Saudi Arabia had offered additional cargoes to Asian refiners through ship-to-ship transfers near Sohar, Oman.

    The Houthis’ expanded control over parts of western Yemen has added to concerns about the Bab el-Mandeb Strait, another important route for international oil shipments.

    Meta CEO Addresses AI Safety Debate

    Meta (NASDAQ:META) Chief Executive Mark Zuckerberg called for independent evaluations of artificial intelligence systems rather than a general slowdown in their development.

    In a social media post on Tuesday evening, Zuckerberg argued that user alignment and trust would become increasingly important competitive factors for AI models and agents.

    He also disclosed that Meta had postponed the release of its latest Muse model to address safety and security matters.

    The comments followed an essay by Anthropic Chief Executive Dario Amodei advocating slower AI development because of potential risks.

    According to the supplied report, OpenAI Chief Executive Sam Altman and xAI head Elon Musk supported Amodei’s position.

    Nvidia Chief Executive Jensen Huang expressed a different view on the safety debate, while President Trump emphasised competition between the United States and China in artificial intelligence.

    OpenAI Reportedly Considers Financing at $1.2 Trillion Valuation

    OpenAI has discussed a potential funding round that would value the company at $1.2 trillion, The Wall Street Journal reported, citing a person familiar with the discussions.

    The proposed financing would take place before a potential initial public offering. The report did not establish that an agreement had been reached or provide a confirmed listing date.

    Altman has ruled out an IPO this year, citing AI safety concerns.

    OpenAI previously completed a $122 billion financing round in March at a valuation of $852 billion, with SoftBank, Amazon and Nvidia among the participants.

    The company has reported one billion active users and said more than 200 million businesses use its AI products.

    The Journal reported that OpenAI’s revenue increased to $6.7 billion in the three months to June from $5.7 billion in the first quarter.

    However, the report said a decline in operating margin had affected expectations that OpenAI could become profitable before a potential public listing.

    The reported financing discussions remain preliminary, and the valuation would depend on the terms of any completed transaction.

  • Barratt Redrow Revenue, WH Smith Trading

    Barratt Redrow Revenue, WH Smith Trading

    FTSE 100 rises as Barratt Redrow reports revenue growth and WH Smith maintains profit guidance. Gold gains while Brent crude falls ahead of the Fed.

    Market Overview

    The FTSE 100 opened 0.38 per cent higher at 10,697.83, supported by gains in mining stocks as investors awaited the Federal Reserve’s interest-rate decision. European markets also advanced, with the Euronext 100 rising 0.57 per cent and Germany’s DAX gaining 0.37 per cent. In the US, the Nasdaq closed lower at 25,981.57, while the S&P 500 declined to 7,585.73.

    Commodity markets were mixed, with copper and gold moving higher, while Brent crude and natural gas declined. Oil prices remained under pressure amid rising US crude inventories, despite concerns about Saudi supply. Bitcoin fell against sterling, while the pound gained against the Swiss franc, euro and Japanese yen but weakened against the US and Australian dollars. Investors continued to monitor Middle East developments ahead of the Federal Reserve’s policy announcement.


    Market Numbers

    FTSE 100: Up (+0.38%), 10,697.83

    Euronext 100: Up (+0.57%), 1,887.39

    DAX: Up (+0.37%), 25,497.25

    NASDAQ: Down, 25,981.57

    S&P 500: Down, 7,585.73


    In the Headlines

    Revenue Growth – Barratt Redrow (LSE:BTRW)
    Barratt Redrow reported a 6.6 per cent increase in FY26 revenue to £6.06 billion, with home completions rising 5 per cent to 17,667. Adjusted profit before tax declined 7.1 per cent, while the group reported £73 million in integration cost synergies.

    Summer Trading – WH Smith (LSE:SMWH)
    WH Smith reported a 5 per cent increase in revenue during summer trading and maintained its full-year profit guidance of £75 million. The update provides investors with an indication of trading performance ahead of the retailer’s annual results.


    Currencies (vs GBP)

    USD: Up (+0.08%), $1.3482

    CHF: Down (-0.01%), Fr.1.1039

    EUR: Down (-0.04%), €1.1673

    JPY: Down (-0.15%), ¥208.879

    AUD: Up (+0.01%), $1.8901

    Bitcoin (BTC/GBP): Down, £56,233.43


    Commodities

    Copper: Up

    Gold: Up

    Brent Crude: Down

    Natural Gas: Down

  • European Stocks Rise as Markets Await Federal Reserve Interest Rate Decision: DAX, CAC, FTSE100

    European Stocks Rise as Markets Await Federal Reserve Interest Rate Decision: DAX, CAC, FTSE100

    European equities moved higher on Wednesday, recovering some of the previous session’s losses as investors awaited the Federal Reserve’s interest rate decision.

    The Stoxx Europe 600 gained 0.5% after falling to its lowest level in three months on Tuesday. European markets have recently faced pressure from higher oil prices, risks to shipping in the Middle East and rising government bond yields.

    London’s FTSE 100 advanced 0.4%, while France’s CAC 40 gained 0.3%. Spain’s IBEX 35 and Italy’s FTSE MIB each rose 0.6%. Germany’s DAX also increased.

    Markets Price in a 92% Probability of a Fed Rate Increase

    Investors were awaiting the conclusion of the Federal Open Market Committee’s two-day meeting later on Wednesday.

    Interest rate futures tracked by CME FedWatch indicated an approximately 92% probability of a 25-basis-point increase in US borrowing costs.

    That compared with market pricing of roughly 50% a week earlier. The change followed persistent US inflation readings and higher energy prices.

    Brent crude remained above $113 a barrel following reported attacks on Saudi pipeline infrastructure and shipping disruptions in the Red Sea.

    A quarter-point increase would represent the Federal Reserve’s first rate rise since mid-2023.

    The anticipated decision follows the European Central Bank’s move last week to increase its deposit facility rate to 2.50%.

    Investors Await Fed Guidance on Future Policy

    Alongside the interest rate announcement, investors are awaiting Federal Reserve Chair Kevin Warsh’s press conference and updated monetary policy projections.

    Market participants are seeking indications of whether a potential rate increase would represent a single adjustment in response to energy-related inflation risks or the beginning of a broader tightening cycle.

    Other central bank decisions are also approaching.

    The Bank of Japan is expected to raise interest rates by 25 basis points to 1.25% on Friday, according to the expectations described in the source material.

    Meanwhile, the US 10-year Treasury yield remained near multi-year highs after briefly exceeding 5% on Tuesday.

    European equities’ gains came as investors assessed the implications of higher energy prices, government bond yields and prospective changes in monetary policy.

  • FTSE 100 Rises 0.45% as Mining Stocks Gain and UK Inflation Reaches 3.1%

    FTSE 100 Rises 0.45% as Mining Stocks Gain and UK Inflation Reaches 3.1%

    The FTSE 100 rose 0.45% on Wednesday morning, supported by gains in mining shares as metals prices increased, while investors assessed UK inflation data and developments in the Middle East.

    At 07:27 GMT, Germany’s DAX was up 0.26% and France’s CAC 40 gained 0.29%. Sterling was little changed against the US dollar, rising 0.01% to $1.3479.

    UK consumer price inflation increased to 3.1% in the 12 months to August, compared with 2.9% in July, according to the Office for National Statistics. The reading matched forecasts, with higher motor fuel costs contributing to the increase.

    ING developed markets economist James Smith said the rise in inflation had been anticipated, with weekly fuel price data suggesting that the headline rate could reach 3.4% next month.

    Smith noted that food inflation declined to 1.1%, while core consumer price inflation remained at 2.6%.

    ING expects inflation to peak at approximately 3.7% early next year and maintains a base case in which the Bank of England leaves interest rates unchanged into 2027.

    Smith said any November interest rate increase would be more closely linked to sustained energy prices and their implications for the Bank’s inflation forecasts than to the latest inflation figures alone.

    Barratt Redrow Leads FTSE 100 Gains as Mining Shares Advance

    Barratt Redrow (LSE:BTRW) rose 6.8% after reporting adjusted profit before tax of £572.8 million, exceeding the consensus estimate of £540.3 million.

    The housebuilder also reduced its home completion guidance for the 2027 financial year, citing delays in the planning process.

    Mining shares advanced alongside higher metals prices.

    Fresnillo (LSE:FRES) gained 2.88%, while Antofagasta (LSE:ANTO) rose 2.8%. Anglo American (LSE:AAL) increased 1.86% and Rio Tinto (LSE:RIO) added 1.16%.

    Silver prices climbed 2.23%, copper gained 0.61%, platinum advanced 0.74% and palladium rose 1.35%.

    The movements came as markets continued to assess supply risks associated with the conflict in the Middle East.

    China Calls for US-Iran Negotiations as Oil Prices Decline

    Chinese Foreign Minister Wang Yi called for renewed negotiations between Washington and Tehran on Wednesday during a visit to Beijing by Iranian Foreign Minister Abbas Araghchi.

    Wang urged the two countries to resume substantive discussions on outstanding issues and rebuild a negotiating framework based on the consensus reached following the Islamabad memorandum of understanding.

    Separately, Iranian state media reported that the country’s Revolutionary Guard had shot down a US MQ-9 drone over Qeshm Island.

    In Washington, the US House of Representatives passed a War Powers Resolution concerning Iran by 220 votes to 204 on Tuesday.

    Seven Republican lawmakers supported the resolution, compared with four in an earlier vote.

    A Congressional Budget Office estimate cited in reporting put the cost of the conflict at $38 billion and indicated that US missile-interceptor stockpiles were being depleted.

    In commodity markets, Brent crude declined 0.93% to $107.74 a barrel, while West Texas Intermediate fell 1.47% to $104.27.

    Gold futures increased 0.95% to $4,373.70 an ounce, while spot gold rose 0.91% to $4,333.84.

    UK Corporate Updates: Moonpig, WH Smith and Babcock

    Moonpig (LSE:MOON) maintained its outlook for the 2027 financial year, with revenue growth at its core Moonpig platform offsetting a planned reduction in reported Experiences revenue.

    WH Smith (LSE:SMWH) said it expects full-year headline profit before tax of approximately £75 million, at the lower end of its previous guidance range. The retailer cited increased promotional activity and higher costs.

    Babcock International (LSE:BAB) reaffirmed its full-year guidance, reporting continued demand across its marine, nuclear and land operations amid increased defence expenditure.

  • European Stocks Fall as Oil Prices and Bond Yields Remain Elevated: DAX, CAC, FTSE100

    European Stocks Fall as Oil Prices and Bond Yields Remain Elevated: DAX, CAC, FTSE100

    European equities traded mostly lower on Tuesday as higher oil prices and elevated government bond yields remained in focus, while investors awaited monetary policy decisions from several major central banks.

    The UK’s FTSE 100 fell 0.4%, France’s CAC 40 declined 0.3% and Germany’s DAX was down 0.1%.

    Banking stocks were among the sectors trading lower as investors assessed the potential inflation implications of higher energy prices amid continued tensions in the Middle East.

    Central Bank Decisions in Focus

    Investors were also awaiting monetary policy decisions from the US Federal Reserve, Bank of England and Bank of Japan this week, with inflation and interest-rate expectations remaining a focus for markets.

    The British pound extended its decline from the previous session following the release of UK labour-market data.

    Figures from the Office for National Statistics showed job vacancies had fallen to a four-year low, while wage growth moderated over the summer.

    Deutz Falls After Capital Increase

    Among individual stocks, German engine manufacturer Deutz (TG:DEZ) moved lower after completing a capital increase.

    In London, City of London Investment Group (LSE:CLIG) shares advanced after the asset manager reported increases in funds under management, fees and earnings for 2026.

    Kier Group (LSE:KIE) also moved higher after the infrastructure and construction company reported its FY2026 results and raised its guidance for FY2027.

    Market attention remains focused on energy prices, bond yields and the upcoming central bank decisions as investors assess the outlook for inflation and interest rates.