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Category: Market Summary

  • FTSE 100 Rises as UK Inflation Eases; Pound Recovers; BAE and Glencore in Spotlight

    FTSE 100 Rises as UK Inflation Eases; Pound Recovers; BAE and Glencore in Spotlight

    London equities opened modestly higher on Wednesday after fresh data showed UK inflation slowed in January, strengthening expectations that the Bank of England could deliver interest rate cuts in both March and June. Sterling also steadied, clawing back some losses after a sharp drop in the previous session.

    By 0806 GMT, the benchmark FTSE 100 was up 0.4%. The pound edged 0.01% higher against the dollar to 1.3560, recovering following Tuesday’s slide triggered by weaker labour market figures.

    Elsewhere in Europe, Germany’s DAX gained 0.5%, while France’s CAC 40 advanced 0.3%.

    UK roundup

    Official figures showed Britain’s annual inflation rate cooled to 3.0% in January from 3.4% in December, bolstering the case for a rate reduction at the Bank of England’s next policy meeting in March. December’s reading had ticked up from 3.2% in November, marking the first increase in five months.

    On a monthly basis, consumer prices fell 0.5%, reversing a 0.4% rise in December. Core CPI, which excludes volatile food and energy costs, declined 0.6% month over month and eased to 3.1% year on year from 3.2% previously.

    ING’s UK economist James Smith described the inflation data as “a bit of a mixed bag,” noting that while food inflation is down sharply, services inflation remains stickier. Smith added that “the real action will come in April” when headline and services inflation figures could make the Bank “more comfortable with the inflation outlook.”

    Corporate focus

    Shares of BAE Systems (LSE:BA.) were in focus after the defence group lifted its dividend following record order intake, driven by higher military spending across Europe and the United States.

    The company proposed a final dividend of 22.8 pence, taking the full-year payout to 36.3 pence, a 10% increase. It also bought back 30 million shares during the year at a cost of £502 million.

    Meanwhile, Glencore (LSE:GLEN) posted a 6% drop in full-year core earnings, as strength in copper prices failed to offset weaker profitability in its coal division. Adjusted EBITDA came in at $13.5 billion, while revenue rose 7% to $247.5 billion. Adjusted EBIT fell 14% to $6 billion, and earnings per share were $0.03.

    Separately, YouGov Plc (LSE:YOU) confirmed the appointment of Ian Griffiths as permanent chair. Griffiths, who joined the board in September 2025, succeeds Deborah Davis, who had served in the role on an interim basis since February 2025.

  • Tech-Led Pullback Could Pressure Wall Street at the Open: Dow Jones, S&P, Nasdaq, Futures

    Tech-Led Pullback Could Pressure Wall Street at the Open: Dow Jones, S&P, Nasdaq, Futures

    U.S. stock futures indicate a softer start to Tuesday’s session, with equities poised to decline as trading resumes after the extended Presidents’ Day break.

    Technology shares appear set to remain under pressure, underscored by a 0.9% drop in Nasdaq 100 futures.

    Mounting concerns over the rapid expansion of artificial intelligence infrastructure have recently prompted investors to trim exposure to major tech stocks, which had previously driven the broader market to record highs.

    “Investors are increasingly questioning whether the marginal dollar spent on AI will generate the expected return,” said Daniela Hathorn, Senior Market Analyst at Capital.com. “At the same time, market uncertainty is rising as new AI models frequently disrupt established players.”

    “With competitive dynamics evolving rapidly, it is unclear who the long-term winners will be,” she added. “This uncertainty has led to underperformance across much of big tech, even as the broader market remains relatively resilient.”

    Overall activity could remain muted as traders await a series of significant economic releases later this week.

    The upcoming report on December personal income and spending is likely to draw particular focus, as it includes the Federal Reserve’s preferred inflation measures.

    Investors will also look to the minutes from the Fed’s most recent policy meeting for further signals on the future direction of interest rates.

    On Friday, stocks struggled to find direction early in the day, gained traction in the afternoon, and then slipped back before the close. The major indices ultimately finished little changed and mixed.

    The Nasdaq shed 50.48 points, or 0.2%, closing at 22,546.67, extending Thursday’s sharp decline. The S&P 500 added 3.41 points, or 0.1%, to end at 6,836.17, while the Dow Jones Industrial Average rose 48.95 points, or 0.1%, to 49,500.93.

    For the week, the Nasdaq fell 2.1%, while the S&P 500 and Dow posted losses of 1.4% and 1.2%, respectively.

    The uneven trading came despite the release of January’s closely watched consumer inflation report from the Labor Department.

    The data indicated that consumer prices rose slightly less than anticipated on a monthly basis, and annual inflation slowed more than expected.

    The consumer price index increased 0.2% in January following a 0.3% rise in December. Economists had projected another 0.3% gain.

    Year-over-year inflation eased to 2.4% from 2.7%, coming in below expectations of 2.5%.

    Core prices, which exclude food and energy, climbed 0.3% in January after a 0.2% increase the prior month, in line with forecasts.

    On an annual basis, core inflation slipped to 2.5% from 2.6%, matching estimates.

    The softer headline inflation reading revived hopes that the Federal Reserve may continue easing policy, contributing to further declines in Treasury yields.

    “This print strengthens the case that the Federal Reserve can maintain a gradual easing bias without fearing renewed inflation pressure,” said Daniela Hathorn, Senior Market Analyst at Capital.com.

    She added, “Importantly, while the labor market remains resilient, today’s CPI reduces the risk that strong employment data forces the Fed into a hawkish rethink.”

    Even so, anxiety about the potential fallout from the rapid AI buildout continued to dampen sentiment and limit buying enthusiasm.

    “Some are concerned about excessive levels of spending and others fear AI will disrupt multiple industries,” said Russ Mould, investment director at AJ Bell. “It all adds up to a cocktail of worries and that’s bad for market sentiment more broadly.”

    Despite the broader market’s subdued tone, gold-related shares rallied sharply alongside gains in the underlying metal, lifting the NYSE Arca Gold Bugs Index by 5.6%.

    Computer hardware stocks also posted solid advances, with the NYSE Arca Computer Hardware Index climbing 2.7%.

    Strength was further seen in networking, utilities, natural gas, and transportation shares, while steel stocks declined following reports that President Donald Trump may roll back tariffs on steel and aluminum.

  • European shares steady as geopolitics and U.S. data take center stage: DAX, CAC, FTSE100

    European shares steady as geopolitics and U.S. data take center stage: DAX, CAC, FTSE100

    European equity markets traded largely unchanged to marginally higher on Tuesday, as investors monitored geopolitical developments and prepared for a series of key economic releases from the United States.

    Defense-related stocks mostly declined, reflecting a perceived easing of tensions surrounding Iran and Russia.

    Sterling weakened against both the euro and the dollar after softer U.K. labor market figures reinforced expectations that the Bank of England could move to cut interest rates as early as March.

    Official statistics showed the U.K. unemployment rate climbed to 5.2% in the fourth quarter, up from 5.1% in the previous period.

    Average earnings growth, including bonuses, came in at 4.2% year-on-year, below forecasts of 4.6%. In January, the number of payroll employees fell by 11,000 month-on-month to 30.3 million.

    In Germany, data from Destatis confirmed that consumer price inflation accelerated to 2.1% in January from 1.8% in December, driven by higher food and services costs.

    The EU-harmonized inflation rate also rose to 2.1% from 2.0% the previous month, in line with the preliminary estimate released on January 30.

    By mid-session, London’s FTSE 100 was up 0.3%, while Germany’s DAX edged 0.1% higher. France’s CAC 40 hovered around flat territory.

    In corporate news, GSK (LSE:GSK) gained ground in London after announcing a £2 billion share repurchase program.

    Mining group BHP (LSE:BHP) also moved higher after reporting earnings at the top end of analysts’ projections.

    In contrast, copper producer Antofagasta (LSE:ANTO) fell despite posting record annual profits.

    Swiss biopharmaceutical firm Basilea Pharmaceutica (TG:PK5) also declined after reporting lower full-year earnings.

  • U.S.–Iran diplomacy in focus; Palo Alto Networks earnings due – market drivers today: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S.–Iran diplomacy in focus; Palo Alto Networks earnings due – market drivers today: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. equity futures traded cautiously on Tuesday as investors prepared for a fresh batch of economic data and corporate earnings in a shortened trading week. The ongoing shift away from high-growth technology names toward defensive sectors remains a central theme, amid renewed debate over whether heavy artificial intelligence spending will translate into sustainable returns. Meanwhile, Brent crude slipped ahead of scheduled U.S.–Iran talks in Switzerland, and gold prices pulled back. Cybersecurity company Palo Alto Networks (NASDAQ:PANW) is set to report after the closing bell.

    Futures trade near flatline

    As of 03:04 ET, Dow futures were down 26 points, or 0.1%. S&P 500 futures declined 11 points, or 0.2%, while Nasdaq 100 futures fell 99 points, or 0.4%. U.S. markets were closed Monday for a public holiday, shortening the trading week.

    Wall Street finished last Friday mixed. Investors weighed concerns about the competitive impact of newly launched AI models across multiple industries, alongside questions about whether continued large-scale AI infrastructure investments will deliver meaningful payoffs for mega-cap technology firms.

    At the same time, traders assessed data showing U.S. headline inflation eased more than expected in January. The softer reading reinforced expectations that the Federal Reserve could move sooner rather than later on its next rate cut, following last month’s pause in its easing cycle.

    Against this backdrop, the Nasdaq Composite edged down 0.2%, while the S&P 500 and Dow Jones Industrial Average posted modest gains.

    Crude eases before diplomatic talks

    Oil markets softened with attention fixed on upcoming negotiations between U.S. and Iranian officials in Geneva.

    A firmer dollar ahead of key macroeconomic releases and signals from Federal Reserve policymakers this week also weighed on crude.

    Brent futures for April delivery slipped 0.7% to $68.13 per barrel. West Texas Intermediate futures rose 0.6% to $63.11 per barrel at 03:06 ET, with price action influenced by the prior U.S. holiday.

    According to media reports, U.S. and Iranian representatives are scheduled to meet in Switzerland to address Tehran’s nuclear enrichment program. The discussions come amid elevated geopolitical tensions in the Middle East, as Washington increases its military presence in the region. President Donald Trump has repeatedly warned that military action remains an option if Iran declines to accept U.S. terms.

    Trading activity was also muted due to Lunar New Year holidays across several Asian markets, including China, Hong Kong, Taiwan, South Korea and Singapore.

    Precious metals pull back

    Gold and silver retreated as investors looked ahead to a slate of U.S. economic releases.

    At 03:09 ET, spot gold fell 1.4% to $4,919.72 per ounce, while April gold futures dropped 2.2% to $4,941.74 per ounce.

    Spot silver declined 2.0% to $75.0925 per ounce, while platinum gained 0.2% to $2,024.79 per ounce.

    Precious metals have experienced sharp volatility in recent weeks, with gold and silver still trading below their late-January highs.

    Attention now turns to U.S. industrial production data due Wednesday and the PCE price index — one of the Fed’s preferred inflation gauges — scheduled for Friday. Markets are also awaiting minutes from the Fed’s January meeting, when policymakers kept rates steady at a range of 3.5% to 3.75%.

    Palo Alto Networks results ahead

    Investors will closely monitor Palo Alto Networks’ earnings for further clarity on how technology firms are navigating intensified competition from newly released AI models.

    The California-based cybersecurity company raised its full-year revenue and profit outlook in November, citing rising demand for digital security solutions as cyber threats escalate.

    It also announced a $3.35 billion acquisition of cloud monitoring firm Chronosphere, which will be integrated into its Cortex AgentiX platform. The integration is expected to allow Palo Alto’s AI-driven systems to leverage Chronosphere’s data to detect performance bottlenecks and identify root causes.

    Together with a separate acquisition of identity security specialist CyberArk Software, the Chronosphere deal is projected to close in the second half of Palo Alto’s fiscal 2026.

    Nikkei extends decline on weak GDP

    Japan’s Nikkei index fell again, extending losses after data revealed that fourth-quarter economic growth undershot expectations.

    Official figures showed Japan’s GDP expanded at an annualized rate of 0.2% in the October–December quarter, far below forecasts of 1.6%. However, the result marked a rebound from the previous quarter’s 2.6% contraction.

    The data highlight the economic challenges facing Prime Minister Sanae Takaichi’s administration following its recent electoral victory. Although the government has signaled plans for stimulus measures to support growth, persistent cost-of-living pressures continue to dampen domestic demand.

    Meanwhile, the Bank of Japan remains focused on managing sticky inflation and currency weakness. Policymakers have indicated they intend to continue gradually tightening policy after years of ultra-loose monetary conditions.

  • European shares mixed; miners’ results, nuclear discussions and UK jobs data in focus: DAX, CAC, FTSE100

    European shares mixed; miners’ results, nuclear discussions and UK jobs data in focus: DAX, CAC, FTSE100

    European equity markets were uneven on Tuesday as investors digested another wave of corporate earnings, fresh UK labour figures and developments surrounding U.S.-Iran nuclear negotiations.

    At 08:05 GMT, Germany’s DAX was down 0.1%. France’s CAC 40 added 0.2%, while London’s FTSE 100 advanced 0.3%.

    Mining earnings take centre stage

    The reporting season remains front and centre, with major mining groups drawing particular attention.

    BHP Group (LSE:BHP) posted better-than-expected first-half underlying profit, helped by robust copper earnings. For the first time, copper overtook iron ore as the company’s largest profit contributor, as prices for the metal climbed amid demand linked to artificial intelligence.

    Antofagasta (LSE:ANTO) also delivered record 2025 earnings, supported by firmer copper and by-product prices that lifted both profitability and operating cash flow. Annual revenue climbed 30%, reflecting stronger realised copper pricing and improved by-product contributions.

    Results are due this week from Europe’s largest diversified miners — Rio Tinto (LSE:RIO), Glencore (LSE:GLEN) and Anglo American (LSE:AAL) — alongside Antofagasta, at a time when several key metals are trading near recent highs.

    Outside the mining space, InterContinental Hotels (LSE:IHG) reported a 16% increase in adjusted earnings for 2025. However, revenue per available room in its Americas division fell 2% in the fourth quarter, marking the sharpest quarterly decline of the year as U.S. government and inbound international travel softened.

    Spanish gas grid operator Enagas (BIT:1ENG) returned to profitability in 2025, exceeding its financial objectives. Asset disposals, a higher arbitration award linked to its Peruvian investment and disciplined cost management supported performance.

    UK labour market shows signs of cooling

    Data released Tuesday indicated further easing in UK labour conditions, potentially strengthening the case for additional monetary easing from the Bank of England.

    The unemployment rate rose to 5.2% in the three months to December, up from 5.1% previously and the highest level since early 2021.

    Meanwhile, annual growth in regular pay excluding bonuses slowed to 4.2% in the final three months of 2025 compared with a year earlier, down from 4.4% in the period to November.

    “The lack of green shoots of recovery in the labor market and further fall in wage growth supports the idea that the Bank of England has at least a couple more interest rate cuts in its locker, with the chances of the next cut happening in March rather than April edging higher,” analysts at Capital Economics said in a note.

    Later in the day, Germany’s ZEW economic sentiment survey is expected to show improving confidence in Europe’s largest economy.

    Oil slips ahead of U.S.-Iran discussions

    Crude prices edged lower as markets evaluated potential supply risks from Iran ahead of indirect talks with the United States in Geneva aimed at addressing their long-standing nuclear dispute.

    Brent futures fell 0.7% to $68.15 per barrel, while U.S. West Texas Intermediate rose 0.6% to $63.12 per barrel. Monday’s U.S. public holiday meant there was no official settlement price.

    While diplomatic efforts are under way, reports suggest the U.S. military is preparing contingency plans for possible extended operations involving Iran. Tehran has also begun military exercises in the Strait of Hormuz, a key global shipping lane for oil exports from Gulf producers.

  • FTSE 100 today: Sterling Slides on Rising Jobless Rate and Slower Pay Growth; Index Edges Higher

    FTSE 100 today: Sterling Slides on Rising Jobless Rate and Slower Pay Growth; Index Edges Higher

    The pound weakened on Tuesday after fresh UK labour data showed unemployment ticking higher and wage growth cooling more sharply than expected. Equity markets, however, opened firmer in London, while major European indices were mixed.

    By 0811 GMT, the blue-chip FTSE 100 was up 0.3%, while sterling had fallen 0.5% against the dollar to 1.3573. Germany’s DAX slipped 0.06%, and France’s CAC 40 gained 0.2%.

    UK labour market update

    According to figures released by the Office for National Statistics, the UK unemployment rate rose to 5.2% in the three months to December, up from 5.1% previously and marking the highest reading since early 2021.

    At the same time, wage pressures continued to ease. Annual growth in regular pay, excluding bonuses, slowed to 4.2% over the same period, down from 4.5% in the prior three-month window.

    The combination of higher unemployment and moderating pay growth points to further softening in the labour market, potentially strengthening the case for additional interest rate cuts from the Bank of England at its upcoming meeting.

    Corporate highlights

    Antofagasta (LSE:ANTO) reported record EBITDA for 2025, supported by stronger copper and by-product pricing. Revenue increased 30% to $8.62 billion, while EBITDA rose 52% to $5.20 billion, lifting the margin to 60.3% from 51.8% a year earlier.

    Profit before tax came in at $3.16 billion, and earnings per share including exceptional items climbed to 134.8 cents from 84.1 cents. Operating cash flow rose 30% to $4.25 billion. The board proposed a final dividend of 48.0 cents per share, taking total annual dividends to 64.6 cents, equivalent to a 50% payout of underlying earnings.

    InterContinental Hotels Group (LSE:IHG) posted a 16% increase in adjusted EPS for 2025 to 501.3 cents, up from 432.4 cents a year earlier, and opened a record 443 hotels during the year.

    However, its Americas division experienced pressure, with fourth-quarter revenue per available room declining 2%, marking the sharpest quarterly drop of the year amid softer US government and inbound international travel. The board approved a new $950 million share buyback for 2026 after completing a $900 million programme in 2025, and proposed a 10% higher final dividend of 125.9 cents per share, bringing the full-year total to 184.5 cents.

    Coca-Cola Europacific Partners (LSE:CCEP) reported a 31% rise in operating profit for 2025 and announced a €1 billion share repurchase plan. Reported operating profit reached €2.79 billion, while comparable operating profit stood at €2.81 billion, up 5.4% on a comparable basis and 7.5% on a comparable, FX-neutral basis.

    Annual revenue increased 2.3% to €20.90 billion, with adjusted comparable FX-neutral revenue growth of 2.8%, according to preliminary unaudited figures.

  • FTSE 100 opens higher as investors await key UK data; SkinBio tumbles

    FTSE 100 opens higher as investors await key UK data; SkinBio tumbles

    UK equities began the week on a firmer footing Monday as investors positioned ahead of a packed economic schedule. Employment figures are due on Tuesday, followed by inflation data on Wednesday — both seen as potentially influential for the Bank of England’s interest rate decision next month.

    By 1029 GMT, the FTSE 100 was up 0.1%, while sterling edged 0.01% lower against the dollar to 1.3647 in GBP/USD trading. Germany’s DAX was little changed and France’s CAC 40 gained 0.3%.

    UK market movers

    Shares of Barratt Redrow PLC (LSE:BTRW) dropped more than 2% after Deutsche Bank lowered its profit projections and cut its price target by 15%, pointing to weakening market conditions and rising fire-safety remediation expenses.

    Analyst Chris Millington reduced the target price to 454 pence from 536 pence but kept a “buy” recommendation on the stock, which last closed at 388.90 pence. The bank trimmed its underlying pre-tax profit forecasts by 9% for fiscal 2026, 6% for FY27, and 7% for FY28.

    Elsewhere, SkinBioTherapeutics PLC (LSE:SBTX) slumped over 37% after announcing an internal probe into former CEO Stuart Ashman over allegations of material financial misrepresentation. The issue will require a 17% reduction in reported 2025 revenue.

    The skincare-focused group said it will reverse £770,000 in royalty income, a move expected to significantly widen operating losses and push fiscal 2026 performance well below market expectations. Management noted that information received late on February 13 raised “significant doubt” about the legitimacy of the royalty revenue.

    Optima Health PLC (LSE:OPT) declined 4.8% after confirming it had agreed to acquire PAM Healthcare Limited for around £100 million. The deal will be funded through £70 million in new borrowing facilities from HSBC and Barclays, alongside a £30 million bridge loan from Deacon Street Partners Limited, controlled by major shareholder Lord Ashcroft.

    Meanwhile, Schroders PLC (LSE:SDR) was cut to “sector perform” by RBC Capital Markets, which argued that limited upside remains for the asset manager’s shares following Nuveen’s approach. RBC lifted its price target to 610 pence to reflect the cash terms outlined in the 612 pence-per-share offer.

    Economic and political backdrop

    On the housing front, asking prices in the UK were largely flat in February after a record jump in January, according to property portal Rightmove. The average price for newly listed homes slipped by £12 to £368,019, following a 2.8% surge the previous month. Even so, prices are still 2.8% higher than in December, marking the strongest start to a year since 2020.

    In political news, the BBC reported that the UK government is considering accelerating plans to raise defense spending to 3% of GDP. Britain had previously pledged to increase annual defense outlays to 2.5% of economic output by 2027, with a goal of reaching 3% after the 2029 general election.

  • Shortened Trading Week Brings Key Data, Earnings and Renewed U.S.–Iran Dialogue Into Focus: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Shortened Trading Week Brings Key Data, Earnings and Renewed U.S.–Iran Dialogue Into Focus: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Investors are entering a holiday-shortened week that nonetheless features important economic releases and major corporate earnings. Oil markets remain steady as Washington and Tehran prepare for another round of nuclear negotiations in Switzerland. Meanwhile, Warner Bros. Discovery is reportedly reassessing takeover discussions, while gold and Bitcoin are trading lower.

    U.S. markets closed to start the week

    Wall Street is shut on Monday for a public holiday, but attention will quickly shift to a busy calendar of data and earnings in the days ahead.

    On Friday, U.S. equity benchmarks ended mixed. Markets reacted to January inflation data showing price pressures easing more than anticipated, increasing speculation that the Federal Reserve could move up its next rate cut to June. Earlier in the week, however, a strong labor market report had suggested that policymakers — who reduced borrowing costs multiple times in 2025 — might delay further easing until later in the year.

    The Nasdaq Composite continued to face headwinds, as investors remain wary of how emerging artificial intelligence models could disrupt the technology and communications sectors. Questions surrounding intensifying competition and the timeline for returns on heavy AI-related capital spending weighed on sentiment across major indices last week.

    Focus now turns to Friday’s release of the December personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge. An advance estimate of fourth-quarter U.S. GDP is also due the same day.

    Corporate earnings remain a key driver this week, with reports expected from Walmart Inc. (NYSE:WMT), Palo Alto Networks (NASDAQ:PANW), Analog Devices (NASDAQ:ADI) and Booking Holdings (NASDAQ:BKNG).

    U.S.–Iran nuclear discussions resume

    The United States and Iran are set to meet again in Switzerland for a second round of talks aimed at addressing Tehran’s nuclear program, after dialogue resumed earlier this month.

    The renewed negotiations come amid ongoing tensions. Washington has reinforced its military presence in the Middle East and signaled readiness to escalate pressure if diplomacy fails. President Donald Trump has repeatedly warned Tehran that it must agree to a deal or risk further military consequences.

    Iranian officials said over the weekend that they are prepared to consider compromises on their nuclear activities in exchange for relief from U.S. sanctions, adding that the next step lies with Washington.

    “[T]here is still a large risk premium priced into the market given the uncertainty over how the situation between the U.S. and Iran evolves,” analysts at ING said in a note.

    Oil prices were largely steady in European trading, with thin volumes due to market holidays in both China and the United States. Weak economic growth data out of Japan also added to concerns about global demand. Brent crude for April delivery hovered near $67.72 per barrel.

    Warner Bros. weighs fresh takeover talks – report

    In corporate news, reports suggest new developments in the takeover saga involving Warner Bros. Discovery (NASDAQ:WBD).

    Bloomberg reported that Warner Bros. is considering reopening negotiations with Paramount Skydance (NASDAQ:PSKY) after David Ellison’s group enhanced its hostile offer. Board members are reportedly assessing whether Paramount’s proposal could be more attractive than a competing bid from Netflix Inc. (NASDAQ:NFLX).

    Last week, Paramount pledged to increase the cash component offered to Warner Bros. shareholders for every quarter that a deal remains unresolved in 2026 and to cover any penalties associated with terminating Warner’s current agreement with Netflix. However, the base offer of $30 per share remains unchanged.

    Gold retreats as dollar steadies

    Gold prices moved lower in European trading as the U.S. dollar stabilized following recent inflation data. Precious metals have experienced sharp swings over the past two weeks and remain below late-January highs.

    Spot gold fell to around $4,998.69 per ounce, while April futures declined to roughly $5,018.69. Although safe-haven demand has been supported by geopolitical tensions, stronger dollar moves have limited gains.

    Bitcoin extends its slide

    Bitcoin (COIN:BTCUSD) continued to decline, marking a fourth consecutive week of significant losses across the cryptocurrency market.

    The digital asset pulled back toward $68,624 after briefly surpassing $70,000 over the weekend. Bitcoin has now lost roughly half its value since reaching a record high near $126,000 in October.

    Meanwhile, Strategy (NASDAQ:MSTR), the largest corporate holder of Bitcoin, said it would remain able to meet its debt obligations even if the cryptocurrency fell to $8,000. The company stated on social media that it can “withstand a drawdown in $BTC price to $8K and still have sufficient assets to fully cover our debt.”

    Strategy currently holds 714,644 Bitcoin, financed through a combination of equity issuance and long-term debt.

  • European equities tick up as earnings optimism offsets holiday-thinned trade; miners in focus: DAX, CAC, FTSE100

    European equities tick up as earnings optimism offsets holiday-thinned trade; miners in focus: DAX, CAC, FTSE100

    European markets started the week slightly firmer on Monday, buoyed by a generally constructive earnings season, though trading volumes were muted due to holidays in both Asia and the United States.

    At around 08:02 GMT, Germany’s DAX advanced 0.4%, France’s CAC 40 added 0.2%, and the U.K.’s FTSE 100 rose 0.2%.

    Earnings momentum supports markets

    Activity was subdued, with much of Asia closed for Lunar New Year celebrations and U.S. markets shut for George Washington’s birthday. Even so, investor sentiment across Europe remained broadly upbeat as corporate earnings continue to exceed expectations against a gradually stabilising economic backdrop.

    According to LSEG data, companies accounting for 57% of Europe’s total market capitalisation have reported results so far. Fourth-quarter earnings growth is averaging 3.9%, outperforming earlier forecasts that had pointed to a 1.1% contraction. Around 60% of companies have surpassed analyst estimates, compared with a typical beat rate of 54%.

    While Monday’s earnings calendar is relatively light, attention this week will turn to Europe’s major mining groups — Rio Tinto (LSE:RIO), Glencore (LSE:GLEN), Anglo American plc (LSE:AAL) and Antofagasta plc (LSE:ANTO) — as they release results amid elevated metals prices.

    Automaker Volkswagen AG (TG:VOW3) is also likely to draw scrutiny after Manager Magazin reported that the group plans to reduce costs by 20% across its brands by the end of 2028.

    Across the Atlantic, the earnings spotlight will fall on Walmart Inc. (NASDAQ:WMT), which is set to publish quarterly results on Thursday. Investors will be watching closely for signals on U.S. consumer demand.

    Economic data in focus

    On the macro front, Eurozone industrial production figures for December are due later Monday, with economists expecting a 1.5% month-on-month decline.

    In the U.K., asking prices for newly listed homes were broadly flat in February, dipping by just £12 to an average of £368,019 after a 2.8% rise in January, according to property portal Rightmove.

    Earlier in Asia, Japan’s latest GDP reading disappointed. The economy expanded at an annualised pace of just 0.2% in the fourth quarter, well below expectations of 1.6%. The data showed only a modest recovery following a sharp contraction in the third quarter, potentially strengthening the case for further fiscal support under Prime Minister Sanae Takaichi.

    Oil steady ahead of U.S.–Iran talks

    Crude prices were little changed in quiet holiday trade, as markets awaited further diplomatic engagement between Washington and Tehran.

    Brent crude futures slipped 0.1% to $67.66 per barrel, while U.S. West Texas Intermediate futures edged down 0.1% to $62.68 per barrel.

    Both benchmarks had declined between 0.5% and 1% last week after U.S. President Donald Trump suggested that a potential agreement with Iran could be reached within a month, weighing on prices.

    A second round of U.S.–Iran discussions is scheduled for Tuesday in Geneva, following renewed talks earlier this month aimed at resolving long-standing tensions over Iran’s nuclear programme.

  • European equities hit fresh highs as earnings momentum offsets soft UK growth: DAX, CAC, FTSE100

    European equities hit fresh highs as earnings momentum offsets soft UK growth: DAX, CAC, FTSE100

    European markets climbed to new record levels on Thursday, buoyed by a strong wave of corporate results from major names including Legrand, Hermes and Siemens.

    Investors largely brushed aside weaker-than-expected U.K. growth data. Britain’s economy expanded by 0.1% quarter-on-quarter in the fourth quarter, matching the previous period but falling short of forecasts for 0.2% growth, as business investment declined and the services sector showed little momentum.

    On an annual basis, GDP rose 1.0%, below economists’ expectations of 1.2%.

    In market action, the U.K.’s FTSE 100 hovered around flat territory, while France’s CAC 40 advanced 1.0% and Germany’s DAX gained 1.4%.

    Among individual stocks, Legrand (EU:LR) rallied after the French electrical and digital infrastructure specialist increased its dividend and unveiled a 2026 revenue growth target of 10–15% at constant exchange rates.

    Luxury house Hermes International (EU:RMS) also posted solid gains following another quarter of consistent revenue expansion.

    Schroders (LSE:SDR) surged after agreeing to a £9.9 billion acquisition by U.S.-based asset manager Nuveen, a move that significantly boosted its share price.

    Siemens (TG:SIE) jumped as well, with the German engineering group lifting its fiscal 2026 adjusted earnings outlook and reaffirming its revenue growth expectations after delivering first-quarter results ahead of forecasts.

    EssilorLuxottica (EU:EL) climbed sharply after reporting an 18% increase in fourth-quarter sales, supported by strong demand for AI-enabled eyewear.

    Ipsen (EU:IPN) advanced following robust 2025 results and an upbeat forecast for 2026 performance.

    In London, British American Tobacco (LSE:BATS) edged higher after posting a 2.3% rise in annual profit and announcing plans for a £1.3 billion share buyback in 2026.

    On the downside, Unilever (LSE:ULVR) slipped despite reporting 3.5% underlying sales growth in 2025, while Swisscom (TG:SWJ) declined after posting lower full-year net income for 2025.