Category: Market Summary

European equities edged lower on Monday as investors assessed developments in the Persian Gulf and expectations for an interest-rate increase at the European Central Bank’s policy meeting on Thursday.

The pan-European STOXX 600 fell 0.1%, remaining near multi-week lows. Germany’s DAX and France’s CAC 40 traded within narrow ranges.

Among individual stocks, Novartis (TG:NOT) fell 3.4% after a trial of its cholesterol drug failed to meet its main goal.

Iran plans restricted zone outside Strait of Hormuz

Iranian authorities said they plan to declare a restricted zone outside the Strait of Hormuz in the coming days.

The announcement followed U.S. strikes that disabled three Iranian oil tankers over the weekend. Washington said the action was in response to an Islamic Revolutionary Guard Corps ballistic missile attack targeting two U.S. Navy warships.

Oil prices rose by around 1% on Monday following gains of nearly 10% during the previous week, with Brent crude trading above $90 a barrel.

Approximately 20% of global seaborne oil and gas flows pass through the Strait of Hormuz, putting the waterway in focus as markets assess the potential implications of military activity or transit restrictions for energy supplies.

Markets price in ECB rate increase

Investors are also preparing for the European Central Bank’s monetary policy decision on Thursday.

Money markets were pricing in a 25-basis-point interest-rate increase. Preliminary August data showed headline Eurozone inflation at 3.3%, with energy components rising 14.3%.

European sovereign bond yields remained elevated ahead of the meeting, with Germany’s 10-year Bund yield trading near multi-year highs.

Higher borrowing costs are also being monitored for their potential effect on rate-sensitive sectors, including real estate and construction.

U.S. inflation data in focus ahead of Fed meeting

Markets will also receive U.S. Consumer Price Index data later this week, ahead of the Federal Reserve’s September 15-16 policy meeting.

The inflation report follows U.S. employment data released on Friday showing that 162,000 jobs were added in August.

Investors will use the CPI figures to assess the inflation outlook and expectations for the Federal Reserve’s next interest-rate decision.

Brent crude moved higher on Monday as another round of military exchanges between the United States and Iran kept attention on shipping through the Strait of Hormuz. Investors were also looking ahead to U.S. inflation figures due later this week.

U.S. equity markets were scheduled to remain closed for a holiday. The upcoming inflation report is among the economic indicators markets are assessing ahead of the Federal Reserve’s next interest-rate decision.

Brent futures gained 1.1% to $97.31 a barrel as of 03:02 ET (07:02 GMT), extending a rise of nearly 10% recorded during the previous week.

Iran has indicated that it plans to declare a restricted zone near the Strait of Hormuz “in the coming days.” The announcement followed U.S. strikes over the weekend that disabled three Iranian oil tankers.

The United States said the strikes were retaliation for an Islamic Revolutionary Guard Corps ballistic missile attack targeting two U.S. Navy warships.

Shipping data cited in media reports showed traffic through Hormuz at its lowest since May. Two vessels passed through the strait on Saturday and six on Sunday, while the 10-day moving average fell to 10.

Around 125 large commodity vessels travelled through Hormuz each day before the Iran conflict began in late February, representing approximately one-fifth of global tanker traffic.

Iran’s economy faces U.S. pressure

Restrictions on shipping through Hormuz have kept energy supplies in focus as markets assess the implications of oil prices for inflation and interest rates.

The six-month conflict remains at a stalemate. Vital Knowledge analysts described the U.S. as either “incapable” or “unwilling” to bring the fighting to an end and said Tehran was “digging its heels.”

The analysts also said Washington appeared to be “winning the war of Hormuz.”

Reuters reported that a U.S. naval blockade of Iranian ports and tighter sanctions were restricting Iran’s oil exports and access to foreign currency, citing Iranian insiders and regional sources.

Whether the measures result in renewed negotiations remains uncertain. Vital Knowledge said U.S. pressure could ultimately amount to a “Pyrrhic victory as Tehran’s economic desperation prompts it to escalate the conflict even further.”

U.S. envoys hold talks in Ukraine and Russia

Two envoys of U.S. President Donald Trump visited Kyiv on Sunday as part of efforts to restart discussions concerning the war between Ukraine and Russia.

Jared Kushner, Trump’s son-in-law, and Special Envoy Steve Witkoff also travelled to Moscow over the weekend. The two discussed proposals for ending the conflict with Russian President Vladimir Putin, according to a White House official cited by the Wall Street Journal.

Further details are expected in “the coming weeks,” the official said.

Ukraine and Russia refrained from recent bombing campaigns while the diplomatic visits took place, according to the source.

Nvidia’s Huang comments on artificial general intelligence

Nvidia (NASDAQ:NVDA) Chief Executive Jensen Huang said artificial general intelligence had arrived following the launch of OpenAI’s GPT-6 Astra.

“AGI has arrived,” Huang wrote on X on Sunday while congratulating OpenAI.

OpenAI has described Astra as its most intelligent and aligned system, citing performance across computer use, software engineering, cybersecurity, science and professional work.

According to Huang, Astra was trained on more than 100,000 Nvidia Grace Blackwell NVLink72 systems.

“From ChatGPT to o1 to Astra in 4 years,” Huang wrote, adding that another 400,000 Nvidia GPUs were coming online.

Amazon Prime Air aircraft crashes at Miami airport

At least five people were reported killed and another five injured after an Amazon (NASDAQ:AMZN) Prime Air cargo aircraft operated by 21 Air overran a runway at Miami International Airport on Sunday.

Prime Air Flight 7598 left the airport’s diagonal runway at around 2 p.m. local time before coming to rest at the northwest end of the airport, according to a spokesperson cited by Investing.com. The aircraft struck several vehicles and caught fire.

The cause of the runway overrun was not immediately known, and the Federal Aviation Administration is expected to investigate the incident.

A separate accident in February 2019 involved an Amazon-branded Boeing 767 operated by Atlas Air, which crashed near Houston while flying from Miami and killed all three people aboard. The earlier accident involved a different aircraft and operator.

FTSE 100 opens flat as Gulf tensions support Brent crude, while Standard Life reports higher profit and IQE posts strong revenue growth.

Market Overview

The FTSE 100 opened broadly unchanged at 10,830.97, while the Euronext 100 slipped 0.01 per cent to 1,910.43 and Germany’s DAX edged 0.01 per cent lower to 26,043.94. European sentiment remained cautious as the US-Iran confrontation and proposed restrictions around the Strait of Hormuz raised concerns over energy supplies, while investors also assessed the prospect of an ECB rate increase. In the US, the Nasdaq closed lower at 26,506.99 and the S&P 500 fell to 7,718.60.

Commodity markets reflected the geopolitical uncertainty, with Brent crude and gold higher, while copper and natural gas moved lower. Bitcoin fell against sterling. Currency moves were limited, with the US dollar, Swiss franc and Australian dollar strengthening marginally against the pound, the euro unchanged and the Japanese yen slightly weaker. Oil remained supported by concerns that further US-Iran attacks on shipping could prolong disruption to Middle East supplies.

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Market Numbers

FTSE 100: Down (0.001%), 10,830.97
Euronext 100: Down (0.01%), 1,910.43
DAX: Down (0.01%), 26,043.94
NASDAQ: Down, 26,506.99
S&P 500: Down, 7,718.60

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In the Headlines

Profit rises – Standard Life (LSE:SDLF)
Standard Life reported a 25% increase in first-half adjusted operating profit to £563 million, alongside higher cash generation and assets under administration. The retirement savings group is also pursuing its proposed £2 billion acquisition of Aegon UK, which would expand its position in the UK pensions and savings market.

Revenue growth – IQE (LSE:IQE)
Compound semiconductor materials supplier IQE reported a 43% rise in first-half revenue to £64.6 million, supported by stronger photonics and wireless sales and demand from AI data centres, defence and advanced sensing. The company expects full-year revenue growth of more than 30% and plans to move to the London Stock Exchange’s Main Market by 2027.

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Currencies (vs GBP)

USD: Up (+0.01%), $1.3517
CHF: Up (+0.00%), Fr.1.0948
EUR: Unchanged (0.00%), €1.1639
JPY: Down (-0.00%), ¥211.145
AUD: Up (+0.01%), $1.8757
Bitcoin (BTC/GBP): Down, £58,619.49

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Commodities

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

The FTSE 100 traded 0.13% lower on Monday as developments in the U.S.-Iran conflict and shipping through the Persian Gulf remained in focus.

As of 03:25 ET (07:25 GMT), Germany’s DAX was also down 0.13%, while France’s CAC 40 declined 0.07%. Sterling gained against the U.S. dollar, with GBP/USD up 0.077% at 1.3525.

U.S. Central Command released footage showing the Iranian tanker M/T Kylo, also referred to as the “Noxen,” sinking in the Gulf of Oman following U.S. strikes. The operation also disabled the M/T Downy near Kharg Island and the M/T Stark 1 near Jask, according to the report.

CENTCOM said the strikes followed Iranian Revolutionary Guard Corps missile launches targeting two U.S. Navy vessels. It said the missiles were evaded and there were no U.S. casualties.

Iran plans to announce a new restricted zone in the Gulf and approve maps for a shipping corridor through the Strait of Hormuz. Tehran has said it will commit to keeping the waterway open if the United States ends attacks and threats against Iran.

The developments follow the breakdown of a June ceasefire in the six-month U.S.-Israeli conflict with Iran, with renewed strikes affecting shipping in the region.

U.S. War Secretary Pete Hegseth said, “It’s simple: if Iran shoots at U.S. ships, we will destroy (and sink) their oil tankers.” CENTCOM commander Adm. Brad Cooper said Iran would face “an even higher economic cost” for further attacks. Iran’s Foreign Ministry described the U.S. strikes as a “war crime” and a breach of the UN Charter.

ING commodities strategists said in a Monday note that “the oil market remains well-supported with little sign of a peace between the US and Iran,” adding that Iran’s proposed restricted zone outside Hormuz “could put additional vessels in the Gulf of Oman at risk.”

Oil shipments have continued despite the conflict. The U.S. energy secretary cited throughput of “a little more than 9m b/d” through Hormuz under U.S. Navy escort. Speculators increased their net-long position in ICE Brent by 37,837 lots to 261,435 as of last Tuesday.

Jefferies’ Mohit Kumar said interest rates were higher and risk assets weaker on Friday after U.S. payroll figures exceeded expectations, with the probability of a September Federal Reserve rate increase moving to around 60%.

Kumar said Jefferies has “stayed away from long end rates since July, as we did not see an easy way out of the US Iran war,” and identified this week’s U.S. consumer price inflation data and Wednesday’s European Central Bank decision as upcoming events for markets, alongside developments in the Gulf.

Britain’s Energy Secretary Ed Miliband discussed de-escalation with Saudi Foreign Minister Prince Faisal bin Farhan by telephone, according to the Saudi foreign ministry, which cited efforts to “enhance the security and safety of international waterways.”

UK housing data also drew attention. Lloyds figures showed British house prices declined 0.4% year-on-year in August, the first annual decrease since November 2023, compared with economists’ expectations for a 0.2% increase. Prices fell 0.2% month-on-month against forecasts for a 0.1% rise.

Brent crude increased 0.95% to $97.19 a barrel, while WTI rose 0.66% to $92.09. December gold futures declined 0.74% to $4,443.59, and spot gold was down 0.73% at $4,398.04.

UK company news

TotalEnergies (LSE:TTE) moved its Papua LNG project closer to a final investment decision after reducing planned capital expenditure to about $14 billion through contract rebidding and design optimisation. The company also finalised an amended gas agreement with Papua New Guinea and established an LNG marketing joint venture with Kumul Petroleum.

IQE (LSE:IQE) reported a first-half adjusted core profit of £6 million, compared with a loss in the prior period, supported by demand from AI infrastructure, data centre and defence customers. The company said momentum continued into the second half and reiterated its full-year forecast.

Waterland plans to make an offer for Gamma Communications (LSE:GAMA) above Epiris’ £1.08 billion bid, according to the Sunday Times. Gamma agreed last week to a 1,120 pence-per-share offer from Epiris. Waterland plans to sell two divisions to Giacom if its proposed acquisition succeeds.

Standard Life (LSE:SDLF) reported first-half profit above expectations, with the results supported by new business growth and demand for pension risk transfer transactions.

U.S. equity futures moved lower on Friday after the latest employment report showed stronger-than-expected job creation in August, shifting investor attention back towards the outlook for Federal Reserve interest rates.

The Labor Department reported that nonfarm payrolls increased by 162,000 in August. July’s figure was revised to a gain of 21,000 jobs from the previously reported decline of 23,000.

Economists had forecast an increase of 55,000 jobs for August.

The unemployment rate was unchanged at 4.1%, compared with expectations for an increase to 4.2%.

Treasury yields moved higher following the release as investors considered what the employment figures could mean for the Federal Reserve’s September policy decision.

“Constantly changing interest rate expectations have kept investors on their toes this week,” said Dan Coatsworth, head of markets at AJ Bell.

Treasury Yields Rise as Markets Reassess Fed Outlook

Expectations for a September interest rate increase had fallen earlier in the week following comments from Federal Reserve Governor Christopher Waller.

CME Group’s FedWatch Tool showed a 52.4% probability of a quarter-point increase, compared with 63.2% on Wednesday.

In an interview with Reuters, Waller indicated that he was leaning towards keeping rates unchanged at the upcoming meeting. He said he would be “inclined to support” holding rates steady if forthcoming economic figures continued to show “some signs of disinflation.”

Waller’s comments had contributed to a decline in Treasury yields before Friday’s employment report.

Dow, Nasdaq and S&P 500 Post Thursday Gains

Wall Street had advanced during the previous session as investors responded to lower Treasury yields and changing expectations for monetary policy.

The Dow Jones Industrial Average climbed 624.16 points, or 1.2%, to 53,686.11. The Nasdaq Composite rose 366.23 points, or 1.4%, to 26,584.06, while the S&P 500 gained 81.11 points, or 1.1%, to 7,747.71.

Several equity sectors also recorded gains. The NYSE Arca Gold Bugs Index advanced 3.8%, the NYSE Arca Broker/Dealer Index gained 3.5% and the Dow Jones U.S. Software Index increased 3.2%.

Computer hardware and banking shares also moved higher, while oil services stocks declined.

Snowflake Jumps 16.6% Following Earnings

Snowflake (NYSE:SNOW) gained 16.6% during Thursday’s session after reporting fiscal second-quarter results that exceeded expectations and issuing higher guidance.

Friday’s payroll figures subsequently shifted the market focus back towards the labour market and its potential implications for monetary policy.

Investors will assess the employment report alongside forthcoming economic data as they consider the possible outcome of the Federal Reserve’s September meeting.

European equity markets traded mixed on Friday as investors awaited the August U.S. nonfarm payrolls report for further indications about the Federal Reserve’s monetary policy outlook.

Expectations for a U.S. interest rate increase eased after Federal Reserve Governor Christopher Waller indicated that he favours keeping rates unchanged at the central bank’s upcoming policy meeting.

The French CAC 40 and the U.K.’s FTSE 100 were both down 0.1%, while Germany’s DAX gained 0.2%.

German Factory Orders Rise 2.5% in July

European investors also assessed German factory orders, which increased by more than expected in July, supported by demand for ships, railway rolling stock and aircraft.

Factory orders rose 2.5% month on month, according to Destatis, compared with expectations for an increase of 0.3%. The June increase was revised to 3.7%.

On an annual basis, German factory orders increased 13.1% in July, accelerating from growth of 7.2% in the previous month.

Volkswagen Shares Rise Following Future Plan 2030 Update

Volkswagen (TG:VOW3) shares advanced after the German automaker announced plans to cut an additional 50,000 jobs as part of its Future Plan 2030 transformation programme.

The company also said it plans to invest a three-figure billion sum over the coming years as part of the programme.

Alstom Gains Following VIA Rail Canada Agreement

Alstom (EU:ALO) shares rose 1.6% after the French rail equipment manufacturer signed an agreement with VIA Rail Canada.

Under the agreement, Alstom will design, engineer, manufacture and support a new Long-Distance, Regional and Remote fleet for passenger services across Canada.

Investors remained focused on the forthcoming U.S. employment figures, which could influence expectations for the Federal Reserve’s next policy decision.

UK shares open little changed as Wall Street rallies on Fed rate-hold hopes; Arrow Exploration lifts output and Bitcoin climbs 3.67%.

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Market Overview

UK and European markets opened little changed on Friday, with the FTSE 100 marginally lower and the Euronext 100 modestly firmer, while Germany’s DAX slipped from its previous close. Wall Street’s overnight session was far stronger, with the Nasdaq Composite closing up 1.40 per cent and the S&P 500 closing up 1.06 per cent, as investors positioned ahead of Friday’s US non-farm payrolls report, which analysts regard as pivotal to the Federal Reserve’s rate decision at its September meeting. Commentary from Fed Governor Christopher Waller pointing to encouraging signs of disinflation has tempered earlier fears of a rate rise, while ongoing tension between the United States and Iran continues to weigh on sentiment in energy markets.

In commodities, copper, gold and natural gas all edged higher on the day, while Brent crude eased marginally despite remaining on course for a sharp weekly gain as the standoff between the United States and Iran around the Strait of Hormuz continues to stoke concerns over global energy supply. Bitcoin rose sharply against sterling, extending its rebound after a volatile week. Sterling was little changed against major peers, with only marginal moves against the US dollar, euro, yen, Swiss franc and Australian dollar as currency markets held steady ahead of the US jobs data.

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Market Numbers

FTSE 100: Down (-0.00%), 10,831.45
Euronext 100: Up (+0.03%), 1,907.44
DAX: Down (-0.07%), 25,985.86
NASDAQ: Up (+1.40%), 26,584.06
S&P 500: Up (+1.06%), 7,747.71

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In the Headlines

Production Update – Arrow Exploration Corp (LSE:AXL)
Arrow Exploration reported corporate production above 6,000 barrels of oil equivalent per day, supported by recent drilling, workovers and its Thorsby field acquisition in Alberta, while advancing drilling at its Icaco field in Colombia. The update underlines the company’s ability to sustain output growth across its Colombian and Canadian assets, with attention now turning to the outcome of licence extension discussions in Colombia.

H1 Generation Update – Quantum Data Energy PLC (LSE:QDE)
Quantum Data Energy reported around 4.7 gigawatt hours of electricity generation in the first half of the year, with its Pyebridge asset achieving prices well above the wholesale benchmark, alongside progress at two new projects reaching financial close and completing construction. The update highlights the company’s expanding flexible power generation portfolio at a time of record renewable output and price volatility in the power market.

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Currencies (vs GBP)

USD: Up (+0.00%), $1.3529
CHF: Up (+0.01%), Fr.1.0925
EUR: Down (-0.00%), €1.1634
JPY: Down (-0.01%), ¥210.57
AUD: Up (+0.02%), $1.8789
Bitcoin (BTC/GBP): Up (+3.67%), £59,632.86

Commodities

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

U.S. equity futures were broadly unchanged on Friday as markets awaited the August nonfarm payrolls report, while comments from Federal Reserve officials affected expectations for the central bank’s September interest-rate decision.

Company developments were also in focus after Lululemon Athletica (NASDAQ:LULU) lowered its full-year outlook again and Adobe (NASDAQ:ADBE) announced that Anil Chakravarthy will succeed Shantanu Narayen as chief executive. OpenAI also announced the introduction of GPT-6 Astra.

Markets Await U.S. Labour Data

S&P 500 futures edged down to 7,752.25 points, while Nasdaq 100 futures were little changed after the previous session ended with gains on Wall Street.

The August nonfarm payrolls report is expected to provide investors with further evidence about conditions in the U.S. labour market ahead of the Federal Reserve’s September 15-16 policy meeting.

Stronger employment growth could support expectations for interest rates to remain restrictive. A weaker report could increase expectations that policymakers will keep rates unchanged, with the possibility of reductions at a later stage.

Fed Comments Shift Rate Expectations

Federal Reserve Governor Christopher Waller said recent economic figures had provided signs that inflationary pressures were easing.

Waller indicated that he would favour leaving interest rates unchanged at the September meeting if upcoming economic releases continue to show inflation moderating.

New York Fed President John Williams has also advocated a cautious wait-and-see approach to monetary policy.

Following the comments, financial markets lowered the implied probability of a 25-basis-point September rate increase to approximately 50%, compared with almost 65% previously.

Lululemon Drops Following Forecast Cut

Lululemon Athletica (NASDAQ:LULU) shares declined approximately 18% in extended trading after the athleticwear company reduced its full-year forecasts for a second time and reported quarterly sales below expectations.

Incoming Chief Executive Heidi O’Neill will take responsibility for the company as it works to refresh its product range and compete with other brands in the athleticwear market.

Future sales performance and changes to the company’s product offering are expected to remain areas of attention as the management transition takes place.

Adobe Announces Chief Executive Transition

Adobe (NASDAQ:ADBE) named Anil Chakravarthy as its next president and chief executive, with the appointment taking effect on December 1.

Chakravarthy currently leads Adobe’s Customer Experience Orchestration business and worldwide field operations and will join the company’s board as part of the appointment.

Shantanu Narayen will move to the position of executive chair and work alongside Chakravarthy during the leadership transition.

The change comes as Adobe increases the integration of artificial intelligence across its creativity, productivity and customer-experience products. Chakravarthy said his priorities would include the next era of “agentic software.”

OpenAI Announces GPT-6 Astra

OpenAI announced GPT-6 Astra, initially making the model available to enterprise customers before a broader rollout to Plus, Pro, Business and Enterprise users.

The model will also be offered through the OpenAI API and AWS. OpenAI set standard API pricing at $10 per million input tokens and $50 per million output tokens.

The announcement comes as artificial intelligence companies continue developing new models and expanding their use across consumer and business applications.

The FTSE 100 traded slightly lower on Friday as markets awaited the latest U.S. non-farm payrolls report ahead of the Federal Reserve’s Sept. 16 policy meeting.

The FTSE 100 was down 0.04% as of 03:18 ET (07:18 GMT). Elsewhere in Europe, Germany’s DAX gained 0.10% and France’s CAC 40 rose 0.04%.

Sterling strengthened against the U.S. dollar, with GBP/USD up 0.13% at 1.3542.

U.S. Employment Data in Focus

Consensus forecasts point to an increase of 55,000 U.S. non-farm payrolls for August, compared with a decline of 23,000 in July. The unemployment rate is expected to remain at 4.1%.

Analysts at ING said comments from Federal Reserve Governor Waller pushed U.S. Treasury yields lower on Thursday before a stronger ISM services reading subsequently sent yields higher.

ING said a payrolls increase below 25,000, combined with benign core CPI of less than 0.2% month-on-month next week, would likely be required to delay an interest-rate increase.

Friday marks the Federal Reserve’s final communication before its blackout period ahead of the Sept. 16 policy decision.

Middle East Developments Remain in Focus

South Korea’s presidential office said it was considering “contributions” to U.S.-led security efforts in the Strait of Hormuz, while adding that “nothing has been decided yet.”

Vice President JD Vance told a White House briefing he was “extremely skeptical” that Iranian claims that a U.S. strike had hit a wedding party were accurate. Asked whether fighting would end by the midterms, he added “I wouldn’t call it a war”.

Treasury Secretary Scott Bessent said the European Union had “officially” joined the U.S.-led “Operation Economic Outcast” sanctions campaign against Iran. Bessent reiterated that the campaign aims to “sever every economic lifeline” sustaining Tehran.

Traffic through the Strait of Hormuz remained below levels recorded before the conflict, with 102 transits last week compared with more than 130 per day previously. Tanker operators continued to route oil through a U.S.-guided southern corridor near Oman.

Iranian officials said a recent series of U.S. strikes killed at least 18 people and wounded 142. The Wall Street Journal reported that U.S. President Donald Trump was privately considering declaring the war over while the Pentagon extended troop deployments in the region.

Oil Prices Rise While Gold Declines

Brent crude rose 0.45% to $95.90 a barrel, while WTI increased 0.43% to $91.68.

Gold futures declined 0.57% to $4,514.15, while spot gold fell 0.13% to $4,467.71.

European equities moved broadly higher on Thursday as US Treasury yields declined and oil prices stabilised following a three-session increase.

Brent crude futures were little changed below $96 a barrel after US President Donald Trump said a new round of US attacks on Iran would likely be short-lived.

The pan-European STOXX 600 Index gained 0.3%, after closing 0.2% lower on Wednesday.

FTSE 100 and DAX Advance

The UK’s FTSE 100 Index rose 0.7%, while Germany’s DAX Index gained 0.2%.

France’s CAC 40 Index moved in the opposite direction, declining 0.3%.

The moves came as investors assessed oil prices and lower US Treasury yields alongside their potential implications for inflation and interest rates.

Hilton Food Rises After Guidance Increase

Among individual companies, Hilton Food (LSE:HFG) shares rose after the food packing group increased its full-year adjusted profit guidance.

Finnish telecommunications equipment company Nokia (TG:NOA3) also advanced after opening its first research and development centre in Saudi Arabia. The facility is dedicated to AI network automation.

Voltalia Falls After Revising Outlook

Voltalia (EU:VLTSA) shares declined after the French renewable energy company revised its fiscal 2026 outlook to a net loss and suspended its fiscal 2027 outlook.

The changes followed the company’s report of a wider loss for the first half of 2026.

UK homebuilder Crest Nicholson (LSE:CRST) also fell to a record low after warning that it expects to report an annual operating loss.

Watches of Switzerland (LSE:WOSG) shares declined despite the luxury watch and jewellery retailer reiterating its full-year revenue and profit targets.