ADVFN UK Market News

Category: Market Summary

  • European stocks subdued as oil climbs amid ongoing Iran conflict: DAX, CAC, FTSE100

    European stocks subdued as oil climbs amid ongoing Iran conflict: DAX, CAC, FTSE100

    European equity markets opened cautiously on Tuesday, with major indices struggling to gain momentum as oil prices moved higher following reports that several U.S. allies declined President Donald Trump’s request to assist in reopening a key maritime route near Iran.

    At 08:03 GMT, the pan-European Stoxx 600 index slipped 0.1% to 598.08. Germany’s DAX declined 0.3%, France’s CAC 40 was broadly flat, while the UK’s FTSE 100 edged up 0.1%.

    Brent crude, the global oil benchmark, surged 3.3% to $103.58 in early European trading after Japan, Germany and Australia signaled they would not participate in U.S.-led efforts to restore shipping through the Strait of Hormuz. The strategic waterway handles roughly one-fifth of global oil shipments.

    Following the launch of joint U.S.-Israeli military strikes against Iran in late February, Tehran responded by threatening to target ships attempting to pass through the narrow strait, effectively disrupting traffic.

    As a result, several container shipping companies have suspended operations in the area, citing crew safety concerns and difficulties securing insurance coverage for voyages through the region.

    The jump in oil prices has heightened concerns about renewed global inflationary pressures, raising the possibility that central banks could reconsider the pace of interest rate cuts. With inflation risks increasing, both the European Central Bank and the U.S. Federal Reserve are widely expected to keep interest rates unchanged at their upcoming policy meetings this week.

  • FTSE 100 rises in early trade as oil prices climb and sterling holds above $1.33

    FTSE 100 rises in early trade as oil prices climb and sterling holds above $1.33

    UK equities edged higher on Tuesday morning, building on the previous session’s gains, while the pound slipped slightly but remained above the $1.33 level. European markets traded with mixed momentum as oil prices rose amid renewed tensions in the Middle East.

    Investor attention this week is centred on upcoming central bank meetings and geopolitical developments. Jefferies expects both the Federal Reserve and the European Central Bank to maintain a cautious “wait-and-see” approach given ongoing uncertainty, while reiterating its view that the rate hikes priced into the short end of the European yield curve will gradually fade.

    At 08:31 GMT, the FTSE 100 was up 0.1%, while sterling weakened 0.05% against the dollar to $1.3314. On the continent, Germany’s DAX declined 0.3%, while France’s CAC 40 gained 0.09%.

    UK corporate updates

    Trustpilot Group PLC (LSE:TRST) reported fiscal 2025 results ahead of profit expectations and issued fiscal 2026 guidance above analyst forecasts, supported by stronger visibility in artificial intelligence search tools and continued expansion among enterprise customers.

    The online review platform generated revenue of $261.1 million for the year ending December 31, 2025, representing a 20% increase at constant currency from $210.7 million the previous year. Adjusted EBITDA reached $40.7 million, exceeding the company-compiled consensus of $38.5 million by 5.7%. Adjusted diluted earnings per share came in at 4.8 cents, compared with analyst expectations of 5.0 cents.

    Wickes Group PLC (LSE:WIX) announced full-year adjusted profit before tax of £49.9 million for the 52 weeks to December 27, 2025, surpassing analyst consensus of £48.2 million and representing a 14.4% rise from £43.6 million in the previous year. Revenue increased 5.9% to £1,636.2 million, compared with £1,544.5 million in 2024.

    Within the business, the retail division recorded revenue of £1,208.9 million, up 6.5%, while the Design & Installation segment grew 4.4% to £427.3 million. The company noted that improved productivity and operating leverage helped partly offset rising costs during the year.

    Ashtead Technology Holdings PLC (LSE:AT.) reported full-year 2025 revenue of £203.2 million on Tuesday, representing a 21% increase year on year, as the subsea technology group reaffirmed its confidence in delivering continued progress through 2026 while monitoring geopolitical developments in the Middle East.

    Adjusted earnings per share reached 49.4 pence for the year ended December 31, 2025, up 10% from 45.0 pence a year earlier. Revenue growth reflected 3% organic expansion and a 19% boost from the acquisitions of Seatronics and J2 Subsea, partly offset by a 1% foreign exchange headwind.

    Close Brothers Group plc (LSE:CBG) reported a decline in first-half profit as a smaller loan book reduced income, though cost discipline and improving credit quality helped offset the impact of the motor finance commission issue. Adjusted operating profit dropped 19% to £65.2 million for the six months to January 31, 2026.

    On a statutory basis, the lender recorded a pre-tax loss of £65.5 million after booking a £135 million provision in October related to potential motor finance redress, part of a wider industry issue linked to commission structures on car loans.

    Sthree Plc (LSE:STEM) said first-quarter net fees fell 8% and confirmed that its chief financial officer will step down, as weakness in European markets outweighed growth in the United States and Japan.

    The global STEM workforce consultancy reported group net fees of £71.7 million for the three months ended February 28, compared with £78.4 million in the same period last year.

    Travis Perkins PLC (LSE:TPK) reported a full-year net loss of £176 million for 2025, widening from a £77 million loss the previous year, marking the third consecutive year of substantial charges after recording £222 million in write-downs across its Merchanting and Toolstation operations.

    The company’s operating loss widened to £97 million from a profit of £2 million in 2024. Adjusted operating profit, excluding the charges, declined to £133 million from £152 million, though it exceeded RBC Capital Markets’ forecast of £128 million and market consensus of £132 million.

    Essentra PLC (LSE:ESNT) reported full-year 2025 results broadly in line with analyst expectations, with revenue of £302.0 million and adjusted earnings per share of 6.1 pence, although margins declined amid operational challenges.

    Revenue rose 2.5% at constant currency compared with the previous year, though reported revenue was broadly unchanged at £302.0 million versus £302.4 million in 2024. All regions recorded growth in constant currency terms, with EMEA up 2.6%, the Americas up 2.0%, and APAC up 3.1%. Adjusted operating profit declined to £32.0 million from £40.1 million, while adjusted operating margin fell to 10.6% from 13.3%.

    Boku Inc (LSE:BOKU) reported full-year 2025 results consistent with its January trading update, showing revenue growth of 30% to $128.8 million as the payments technology firm expanded across multiple markets.

    Growth was led by the EMEA region, where revenue rose 39% in the second half. Total Payment Volume increased 27% to $15.7 billion. Adjusted EBITDA rose 36% to $41.3 million, equating to a margin of 32.1%.

    Defence cooperation initiative

    Finland, the Netherlands and the United Kingdom announced Tuesday that they are exploring the creation of a new mechanism for joint defence financing and procurement, with the aim of launching the initiative by 2027.

    The three NATO members said the framework would pool demand, enable coordinated procurement, accelerate defence investment and expand the availability of critical capabilities such as munitions as they strengthen shared defence and security commitments.

    The proposal comes amid rising geopolitical tensions and security concerns, including Russia’s ongoing war in Ukraine, which the countries said is contributing to global instability and challenging the rules-based international order.

  • U.S. stocks seen rebounding as oil prices retreat: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. stocks seen rebounding as oil prices retreat: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. stock futures are pointing to a solidly higher open on Monday, suggesting that markets may recover part of the ground lost during last week’s downturn.

    The early strength appears to be linked to a notable decline in crude oil prices, which are down about 3.2% after climbing 8.6% over the course of the previous week.

    Oil prices moved lower after President Donald Trump urged other nations to help secure shipping routes through the Strait of Hormuz.

    “I’m demanding that these countries come in and protect their own territory, because it is their territory. It’s the place from which they get their energy,” Trump told reporters aboard Air Force One on Sunday. “And they should come and they should help us protect it.”

    “Why are we maintaining the Hormuz Strait when it’s really there for China and many other countries?” he asked. “Why aren’t they doing it?”

    Markets may also benefit from bargain hunting following last Friday’s sell-off, which pushed the major U.S. indexes to their lowest closing levels in more than three months.

    After suffering sharp losses on Thursday, equities initially rebounded in early trading on Friday. However, that recovery faded as the session progressed, with the main averages turning negative by the close.

    By the end of the day, the major indexes had extended their previous declines and finished at fresh three-month closing lows. The Nasdaq dropped 206.62 points, or 0.9%, to 22,105.36. The S&P 500 slipped 10.43 points, or 0.6%, to 6,632.19, while the Dow Jones Industrial Average declined 119.38 points, or 0.3%, to 46,558.47.

    Over the course of the week, the Dow lost 2.0%, the S&P 500 fell 1.6%, and the Nasdaq dropped 1.3%.

    Market movements throughout the session were largely influenced by fluctuations in crude oil prices.

    Stocks initially gained momentum as oil prices retreated, with April crude futures dropping as much as 3.9% after surging during the previous two sessions.

    However, oil prices later reversed course and climbed sharply during the day, which contributed to renewed selling pressure in equities.

    The volatility in energy markets came as President Donald Trump intensified his rhetoric toward Iran, referring to the regime as “deranged scumbags” that he has the “great honor” to kill.

    On the economic front, a closely watched report from the Commerce Department indicated that the annual pace of consumer price growth slowed unexpectedly in January.

    According to the data, the PCE price index rose 2.8% year over year in January, down from 2.9% in December. Economists had expected the rate to remain unchanged.

    Meanwhile, the core PCE price index, which excludes food and energy, edged up to 3.1% from 3.0% the previous month, contrary to expectations that it would remain steady.

    Another report from the Commerce Department showed that U.S. economic growth in the fourth quarter of 2025 slowed more than previously estimated.

    Among sector moves, gold mining stocks fell sharply in tandem with the price of gold, sending the NYSE Arca Gold Bugs Index down 5.2% to its lowest closing level in more than a month.

    Steel stocks also posted notable losses, with the NYSE Arca Steel Index declining 2.7%.

    Airline and software shares were also under pressure, while utilities and natural gas companies managed to record gains during the session.

  • European stocks advance as Iran conflict enters third week: DAX, CAC, FTSE100

    European stocks advance as Iran conflict enters third week: DAX, CAC, FTSE100

    European equity markets traded mostly higher on Monday as the U.S.-Israeli conflict with Iran moved into its third week and U.S. President Donald Trump urged allied nations to deploy naval escorts to secure shipping routes through the Strait of Hormuz.

    Later in the day, foreign ministers from the European Union are scheduled to meet to discuss the possibility of a coordinated naval response to the effective shutdown of the strategic oil transit corridor.

    Investors are also watching upcoming central bank meetings in the United States, the United Kingdom, Europe and Australia, as rising energy prices increase concerns about inflation.

    In early trading, the U.K.’s FTSE 100 Index gained 0.7%, Germany’s DAX Index climbed 0.6% and France’s CAC 40 Index advanced 0.3%.

    Shares of German lender Commerzbank (TG:CBK) jumped nearly 4% after Italy’s UniCredit launched a €35 billion ($40 billion) takeover proposal for the bank.

    Tecan Group (TG:TEN) declined 4.3%. The Swiss laboratory automation company reported a net loss of CHF 110.7 million for the 2025 financial year and said it expects sales to grow in the low single-digit percentage range in local currencies during 2026.

    Idorsia (TG:19T) plunged 12% after the pharmaceutical research firm announced that CEO Srishti Gupta will step down and leave the board of directors after less than a year in the role.

    Meanwhile, U.K. construction materials producer Marshalls (LSE:MSLH) rose 2.4% after reporting a slight increase in revenue for 2025.

  • Iran conflict enters third week as Nvidia event and Fed decision dominate market outlook: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Iran conflict enters third week as Nvidia event and Fed decision dominate market outlook: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. stock futures moved higher early Monday as investors prepared for a week packed with developments that could influence global markets. The ongoing conflict involving Iran continues to push oil prices higher and raise concerns about inflation. Meanwhile, a major developer conference hosted by Nvidia (NASDAQ:NVDA) could provide fresh signals about the direction of the artificial intelligence industry, while the Federal Reserve will headline a series of global central bank policy announcements in the days ahead.

    Futures edge higher

    Futures tied to the main U.S. stock indexes were up in early trading Monday as investors assessed the continued U.S.-Israeli military campaign against Iran, now entering its third week.

    At 04:19 ET, Dow futures had risen 141 points, or 0.3%. S&P 500 futures advanced 33 points, or 0.5%, while Nasdaq 100 futures gained 131 points, also around 0.5%.

    Wall Street’s main indexes finished last week lower as oil prices surged amid fears of disruptions to global supply. Iran has effectively closed the Strait of Hormuz, a strategic shipping route south of the country through which roughly one-fifth of the world’s oil tanker traffic normally passes. The closure has constrained energy flows and heightened risks to the global economy.

    Although the United States has tried to calm supply concerns—including by easing some sanctions on Russian oil—crude prices have continued to climb. Higher oil costs have also pushed gasoline prices higher, an important factor in inflation data and a key issue for U.S. voters ahead of the November 2026 midterm elections.

    Analysts at ING noted in a report that U.S. strikes carried out over the weekend on Kharg Island—through which most of Iran’s oil exports move—have heightened concerns about supply risks. However, they said the island’s energy facilities appear to have largely escaped damage.

    Trump urges allies to help reopen Strait of Hormuz

    U.S. President Donald Trump has meanwhile called on seven countries to work with Washington to secure the Strait of Hormuz, a critical energy corridor responsible for transporting around one-fifth of the world’s oil supply.

    Speaking with reporters aboard Air Force One on Sunday, Trump did not indicate whether any of the nations had agreed to assist.

    In comments to the Financial Times, Trump also suggested that NATO member states should contribute to reopening the route, warning that “it will be a very bad for the future of NATO” if they fail to respond or decline to support Washington.

    Trump also singled out China, saying he could cancel a planned summit with Chinese President Xi Jinping in April if Beijing does not use its influence to help restore shipping through the strait. According to The New York Times, oil tankers heading toward China have been permitted to pass through the waterway, while others have reportedly come under attack.

    Oil prices rise amid supply concerns

    Oil prices advanced Monday in volatile trading as investors remained alert to potential disruptions to Middle East supply. Prices had briefly dipped after Trump urged several countries—including China—to help reopen the Strait of Hormuz.

    U.S. officials continued to express confidence that the conflict with Iran would end quickly, while Tehran maintained that it remains capable of defending itself.

    Separately, the International Energy Agency said over the weekend it plans to release 411.9 million barrels of crude from emergency reserves in an effort to offset possible supply shortages.

    Brent crude futures, the global benchmark, climbed 2.7% to $105.90 per barrel, while U.S. West Texas Intermediate futures gained 2.0% to $98.75 per barrel at 04:06 ET. Earlier in the session, oil had risen as much as 3% before trimming gains and briefly trading flat.

    Nvidia developer conference draws investor attention

    Nvidia CEO Jensen Huang will take center stage at the company’s annual developer conference beginning Monday, as investors look for updates on how the chipmaker plans to maintain its leadership in the rapidly expanding artificial intelligence sector.

    Huang’s presentation comes as Nvidia faces growing competition in the market for AI-focused semiconductors. Rivals such as Advanced Micro Devices and Intel are increasing their presence, while major technology firms—including Alphabet’s Google—are developing their own processors tailored to artificial intelligence applications.

    The increasing importance of “inference” in AI—where systems perform tasks on behalf of users—also presents a challenge for Nvidia. These workloads often rely on different types of chips than those Nvidia has traditionally produced. Some of Nvidia’s largest customers, including OpenAI and Meta Platforms, have also indicated plans to design their own AI processors.

    In December, Nvidia spent $17 billion to acquire Groq, a startup specializing in fast and cost-efficient inference computing. Last month, Huang said he would show how Groq’s technology could be integrated into Nvidia’s CUDA platform.

    “[T]he big deliverable expected at this event is the unveiling by Nvidia of a new inference-focused chip that will contain IP obtained in the recent Groq acquihire deal,” analysts at Vital Knowledge said in a research note.

    Fed policy decision in focus

    Beyond developments in the technology sector, investors are also preparing for several central bank policy decisions this week.

    The Federal Reserve will be the main highlight, with policymakers widely expected to leave interest rates unchanged when their two-day meeting concludes on Wednesday.

    Fed Chair Jerome Powell—who is scheduled to step down in May—is also expected to use one of his final press conferences following a policy announcement to comment on the condition of the U.S. labor market and the outlook for inflation.

    Recent employment data came in significantly weaker than expected, underscoring potential fragility in the job market. At the same time, inflation pressures could intensify due to rising energy prices linked to the conflict involving Iran.

    These developments leave the Fed facing a difficult policy balancing act: lowering interest rates could help support hiring but risk fueling inflation, while raising rates could restrain price growth but potentially weaken the labor market.

    Investors will be watching closely for signals about how the central bank intends to manage these competing risks in the months ahead.

  • FTSE 100 opens higher as Middle East tensions continue and BoE decision approaches

    FTSE 100 opens higher as Middle East tensions continue and BoE decision approaches

    UK equities began Monday’s session in positive territory, recovering earlier losses, while the pound strengthened slightly as geopolitical tensions in the Middle East remained elevated and investors prepared for this week’s Bank of England policy decision.

    At 08:09 GMT, the FTSE 100 was up 0.5%, while the GBP/USD exchange rate rose 0.2% to 1.3249 against the dollar.
    Elsewhere in Europe, Germany’s DAX gained 0.2% and France’s CAC 40 advanced by a similar margin.

    Iran developments

    U.S. President Donald Trump has urged seven countries to assist Washington in ensuring security in the Strait of Hormuz, a strategic shipping route that handles roughly one-fifth of global oil supply. However, he did not indicate whether any of the countries had agreed to the request.

    Tehran has effectively halted tanker movements through the strait, which is bordered by Iran on three sides. The disruption has driven energy prices sharply higher and added uncertainty to the outlook for the global economy.

    UK market focus

    Citigroup expects the Bank of England’s Monetary Policy Committee to leave the Bank Rate unchanged at 3.75% when it meets on Thursday. The bank has removed an anticipated April rate cut from its forecast, citing the renewed energy shock linked to the Middle East conflict.

    Citi now projects the rate-cutting cycle to conclude at 3.25%, with reductions expected in June and September, slightly higher than its previous terminal rate forecast.

    Corporate news

    Standard Life PLC (LSE:SDLF) reported that its statutory net loss after tax narrowed to £394 million for the 2025 financial year, compared with £1.08 billion the year before. The result came despite £604 million in accounting charges related to hedging activities, which offset a 15% rise in adjusted operating profit.

    The charges stem from the company’s strategy to shield its Solvency II capital position from fluctuations in equity markets and interest rates. With the FTSE 100 climbing 21.5% in 2025, the hedging programme generated negative accounting effects under IFRS rules, although underlying cash generation remained stable.

    Standard Life, which rebranded from Phoenix Group Holdings three weeks ago, saw these accounting adjustments overshadow operational improvements during the year.

    In other corporate developments, Marshalls PLC (LSE:MSLH) announced a 55% decline in full-year profit before tax to £17.7 million for the year ending December 31, 2025, despite a 2% increase in revenue to £632.1 million. The UK building materials manufacturer also reduced its dividend for the second consecutive year.

    Basic earnings per share fell to 5.7 pence from 12.3 pence, while reported operating profit dropped to £32 million from £53.9 million. The company proposed a total dividend of 6.7 pence, down from 8 pence the previous year. Net debt increased slightly to £137.9 million from £133.9 million.

    UK housing market

    Data from property portal Rightmove showed that asking prices for homes in the UK increased by 0.8% in March, adding just over £3,000 to reach an average of £371,042. However, prices were still 0.2%, or £744, lower than a year earlier.

    The monthly rise reflects typical seasonal activity during the spring selling period, but the slight annual decline mirrors recent commentary from UK housebuilders suggesting that house price growth has largely stalled.

  • European stocks steady but heading for weekly losses as oil surge raises inflation concerns: DAX, CAC, FTSE100

    European stocks steady but heading for weekly losses as oil surge raises inflation concerns: DAX, CAC, FTSE100

    European equities were largely unchanged on Friday but remained on track for weekly declines as rising crude oil prices—driven by escalating tensions in the Middle East—continued to fuel inflation worries and dampen expectations for near-term interest rate cuts from the Federal Reserve.

    In economic developments, new data showed the U.K. economy recorded no growth in January. According to the Office for National Statistics, an increase in construction activity was offset by weakness in industrial output and stagnation in the services sector.

    Gross domestic product was unchanged during the month, following expansions of 0.1% in December and 0.2% in November. Economists had expected the economy to grow 0.2% month-on-month.

    On an annual basis, the U.K. economy expanded 0.8% in January, slightly below the 0.9% growth forecast by analysts.

    Elsewhere in Europe, France’s annual inflation rate accelerated to 0.9% in February, up from 0.3% in January.

    In market trading, France’s CAC 40 was hovering just below flat levels, while Germany’s DAX was up 0.1% and the U.K.’s FTSE 100 gained 0.2%.

    Shares of Vivendi (EU:VIV) declined even after the French media group reported a return to profitability in the second half of 2025.

    Radiator maker Stelrad Group (LSE:SRAD) also fell after reporting lower revenue for 2025 amid weak demand across the U.K., Ireland and continental Europe.

    Meanwhile, BE Semiconductor (EU:BESI) rose sharply following reports that the chip-equipment manufacturer has attracted takeover interest.

  • Oil holds near $100 as Iran conflict unsettles markets — key themes driving trading: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Oil holds near $100 as Iran conflict unsettles markets — key themes driving trading: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. equity futures moved modestly lower early Friday as energy prices remained elevated amid the continuing conflict in the Middle East. Brent crude stayed above the $100-per-barrel threshold, with little indication that the joint U.S.-Israeli campaign against Iran — now stretching beyond a week — will ease soon. The jump in energy costs has also raised fresh inflation concerns, putting gold on track for a weekly decline, while investors await another key U.S. inflation reading. In corporate news, Adobe (NASDAQ:ADBE) shares slipped after the company announced that its long-serving chief executive will step down.

    Futures drift lower

    Contracts tied to the major U.S. stock indices pointed to a softer start for Wall Street on Friday, suggesting markets may finish the week under pressure following several sessions of volatility linked to the Iran war and tightening oil supplies.

    At 04:10 ET, Dow futures were down 241 points, or 0.5%. S&P 500 futures had fallen 35 points, also about 0.5%, while Nasdaq 100 futures were lower by 157 points, or 0.6%.

    The main U.S. benchmarks had already ended the previous session lower as investors saw little evidence that tensions in the Middle East were about to subside. A statement from Iran’s new Supreme Leader Mojtaba Khamenei indicating that the crucial Strait of Hormuz will remain closed helped keep oil prices elevated and weighed on investor sentiment.

    Although the U.S. and Israel appear to have gained the upper hand militarily, some analysts believe Iran may be trying to counter the pressure by restricting maritime traffic through the strait, which carries roughly one-fifth of global oil shipments.

    To offset Iran’s control over the key passage, the U.S. Treasury has said countries will be allowed to buy certain sanctioned Russian crude until April 11. Treasury Secretary Scott Bessent also said the U.S. Navy may escort commercial ships traveling through the strait.

    Brent remains elevated

    Fears that the conflict could spread across one of the world’s most important oil-producing regions have helped keep Brent crude above $100 per barrel.

    The benchmark has experienced sharp swings throughout the week. At one stage, Brent surged close to $120 a barrel before briefly falling below $90.

    While the volatility has captured headlines, the bigger question for investors is whether the surge in oil prices will prove lasting, analysts at Capital Economics noted.

    “As it stands, investors in the options market put a one-in-five chance of Brent crude prices being $100 per barrel or higher in three months’ time,” said Kieran Tompkins, Senior Climate and Commodities Economist at Capital Economics, in a note.

    At 04:33 ET on Friday, Brent futures had gained 0.6% to $101.04 a barrel, putting the benchmark up more than 9% over the past week. Before the conflict with Iran erupted, Brent had been trading near $70 a barrel.

    Gold heads for weekly loss

    Spot gold was meanwhile poised for a second consecutive weekly decline, highlighting concerns that the Iran conflict could trigger a fresh wave of inflation through higher energy costs.

    Much of the oil and gas transported through the Strait of Hormuz is used in manufacturing products such as fertilizers and plastics. A sustained rise in energy prices could therefore ripple through supply chains and increase inflationary pressures across global economies.

    Such concerns could also prompt central banks — including the Federal Reserve — to reconsider plans for near-term interest rate cuts. Higher borrowing costs tend to attract foreign capital and support the U.S. dollar. The dollar index, which tracks the currency against a basket of major peers, has strengthened as the conflict has intensified.

    Although gold is typically viewed as a safe-haven asset during geopolitical crises, a stronger dollar can reduce its appeal by making bullion more expensive for buyers outside the United States.

    U.S. inflation data ahead

    Markets will also be watching closely for the release of the U.S. personal consumption expenditures price index for January later on Friday.

    Excluding volatile categories such as food and energy, the so-called “core” PCE index is expected to rise 3.1% year-on-year, slightly higher than the 3.0% recorded in December. The gauge is closely followed by financial markets because it is one of the Federal Reserve’s preferred indicators when shaping monetary policy.

    Interestingly, the Commerce Department’s PCE figures have recently come in hotter than the Labor Department’s consumer price index readings. The difference largely reflects variations in weighting — particularly for housing and healthcare — as well as differences in scope and consumer substitution patterns. Specifically, the lower weighting of cooling housing costs in the PCE and its higher exposure to rising healthcare expenses have kept the PCE above CPI.

    On Wednesday, February’s CPI data showed relatively moderate inflation of 2.4% year-on-year.

    However, the data largely reflect a period before the outbreak of the Iran conflict, which began with U.S. and Israeli air strikes in late February. Since then, the inflation outlook has become more uncertain.

    Adobe CEO to step down

    Adobe shares declined in after-hours trading after the company revealed that Shantanu Narayen — who has served as chief executive for eighteen years — will step down as the board begins the process of identifying a successor.

    Narayen joined Adobe in 1998 and rose through the company before becoming CEO in December 2007. One of his most notable strategic decisions was transitioning Adobe’s software portfolio to a cloud-based subscription model.

    During his leadership, Adobe’s annual revenue expanded sharply, rising from $3.58 billion to $23.77 billion.

    The San Jose, California-based firm — known for products such as image editor Photoshop and video editing software Premiere Pro — also reported quarterly results that exceeded expectations on both revenue and earnings and issued guidance for the current quarter that was largely above market forecasts.

  • FTSE 100 today: Stocks slide further as oil tops $100 and UK growth stalls

    FTSE 100 today: Stocks slide further as oil tops $100 and UK growth stalls

    UK equities extended their recent decline on Friday, while the pound slipped below $1.33, as escalating Middle East tensions kept oil prices above $100 per barrel. Investor sentiment was further dampened by weaker-than-expected UK economic data showing the economy failed to grow in January.

    By 08:54 GMT, the blue-chip FTSE 100 index had fallen 0.7%. Sterling also weakened, with GBP/USD down 0.6% to 1.3265. European markets were similarly under pressure, with Germany’s DAX declining 0.7% and France’s CAC 40 losing 0.9%.

    Iran latest update

    Iran’s Supreme Leader Mojtaba Khamenei said Friday that the Strait of Hormuz will remain closed, with Iran effectively blocking maritime traffic to use the blockade as leverage against Western nations.

    Separately, the United States moved to ease sanctions on Russian oil in an attempt to reduce upward pressure on global energy prices.

    UK round up

    New economic data showed the UK economy failed to expand in January, missing expectations and raising fresh concerns about the country’s resilience ahead of rising energy costs linked to the Middle East conflict.

    The Office for National Statistics said gross domestic product was unchanged month-on-month at 0.0% in January, below economists’ forecasts for a 0.2% increase. The figures were released Friday before oil prices surged further amid the regional tensions.

    UK government bond prices declined, pushing yields higher. The 10-year gilt yield climbed to 4.817%, its highest level since September. Yields on five-year and 10-year gilts increased by roughly three to four basis points shortly after trading began.

    Housebuilder Berkeley Group Holdings (LSE:BKG) reiterated its annual profit guidance but cautioned that geopolitical uncertainty and macroeconomic pressures are weighing on housing demand. The company said it still expects pre-tax profit of about £450 million for the current financial year and a similar level for fiscal 2027, while targeting a net cash position of around £300 million by year-end.

    Shares in radiator manufacturer Stelrad Group (LSE:SRAD) declined after the company reported annual revenue of £279.6 million, down 3.8% from the previous year amid ongoing economic uncertainty across its key markets in the UK, Ireland and Europe. “Market demand remains subdued and we expect this to continue for at least first half of 2026,” Stelrad said.

    Property investor CLS Holdings (LSE:CLI) also fell, becoming the largest decliner on the FTSE small-caps index. The company said economic conditions across Europe remain challenging and noted that it is too early to gauge the potential short- or long-term effects of the Middle East conflict on the region’s economies and property markets. CLS reported that its 2025 net rental income dropped around 11% to £101.3 million.

  • European stocks fall as oil spike heightens inflation concerns: DAX, CAC, FTSE100

    European stocks fall as oil spike heightens inflation concerns: DAX, CAC, FTSE100

    European equities moved lower on Thursday as a sharp rise in oil prices intensified fears about inflation. Brent crude, the global benchmark, briefly climbed above $100 per barrel amid supply concerns following Iranian attacks on commercial vessels near the Strait of Hormuz.

    The conflict involving U.S. airstrikes in Iran entered its thirteenth day with little indication that tensions are easing.

    Among major indices, France’s CAC 40 Index declined 0.5%, the U.K.’s FTSE 100 Index slipped 0.4%, and Germany’s DAX Index fell 0.3%.

    In corporate developments, Swiss Life Holding (BIT:1SLHN), one of Europe’s largest life insurers, dropped after its fee-based business moved further away from a key three-year target and its asset management division reported a decline in 2025.

    German carmaker BMW (TG:BMW) also traded lower after reporting a 3% drop in full-year net profit.

    By contrast, reinsurer Hannover Re (TG:A30VQR) gained ground after announcing higher full-year net income and reaffirming its outlook for 2026.

    Daimler Truck Holding (TG:DTG) also rose after guiding for a broadly stable profit margin in its industrial operations for 2026.

    Online fashion retailer Zalando (TG:ZAL) moved sharply higher following the release of better-than-expected fiscal 2025 results.

    Meanwhile, financial services group Legal & General (LSE:LGEN) advanced after announcing the launch of the first tranche of its £1.2 billion share buyback program.