ADVFN UK Market News

Category: Top Story

  • Market Open: Marston’s Growth Target, Wickes Sales Growth

    Market Open: Marston’s Growth Target, Wickes Sales Growth

    FTSE 100 opens flat as investors watch Middle East tensions. Marston’s and Wickes lead headlines while Brent crude eases and copper gains.

    Market Overview

    The FTSE 100 opened marginally lower, while European markets were mixed as the Euronext 100 edged higher and Germany’s DAX gained at the open. Overnight, US markets finished weaker, with the Nasdaq closing at 25,508.07 and the S&P 500 ending at 7,443.28 as investors monitored renewed security concerns in the Middle East, including shipping risks around the Strait of Hormuz and their potential impact on energy markets. The FTSE 100 opened 0.001 per cent lower, the Euronext 100 rose 0.04 per cent and the DAX gained 0.10 per cent.

    Commodity markets remained in focus as geopolitical tensions continued to influence sentiment. Copper strengthened, while gold eased and Brent crude traded lower despite ongoing supply concerns. Natural gas edged higher. Against sterling, the US dollar and Swiss franc were little changed, the euro was steady, the Japanese yen and Australian dollar edged higher, while Bitcoin was higher.

    Market Numbers

    FTSE 100: Down (-0.001%), 10,524.25
    Euronext 100: Up (+0.04%), 1,902.53
    DAX: Up (+0.10%), 24,871.47
    NASDAQ: Down, 25,508.07
    S&P 500: Down, 7,443.28

    In the Headlines

    Trading update – Marston’s (LSE:MARS)
    Marston’s said trading has been supported by stronger customer demand during the World Cup period and outlined plans to accelerate growth. The update suggests trading momentum has improved despite a challenging consumer backdrop, providing reassurance over the group’s outlook.

    Retail update – Wickes (LSE:WIX)
    Wickes reported second-quarter sales growth and maintained its full-year expectations. The update indicates continued resilience in consumer demand across its home improvement business despite ongoing economic uncertainty.

    Currencies (vs GBP)

    USD: Down (-0.00%), $1.3431
    CHF: Down (-0.01%), Fr.1.0879
    EUR: Unchanged (0.00%), €1.1765
    JPY: Up (+0.00%), ¥218.244
    AUD: Up (+0.01%), $1.9187
    Bitcoin (BTC/GBP): Up, £49,235.60

    Commodities

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

  • FTSE 100 falls as Strait of Hormuz tensions offset ceasefire optimism

    FTSE 100 falls as Strait of Hormuz tensions offset ceasefire optimism

    UK stocks edge lower amid renewed Middle East uncertainty

    The FTSE 100 traded modestly lower on Tuesday as investors assessed reports of a proposed temporary ceasefire between the United States and Iran, while renewed attacks on commercial shipping in the Strait of Hormuz continued to fuel geopolitical uncertainty. Investors also digested stronger-than-expected UK labour market figures alongside an improvement in the government’s latest borrowing data.

    The FTSE 100 slipped 0.18%, while Germany’s DAX traded broadly flat and France’s CAC 40 gained 0.05%. Sterling strengthened 0.07% against the US dollar to $1.3444.

    Ceasefire proposal competes with escalating regional conflict

    According to reports, Qatar, Egypt and Pakistan have put forward a proposal for a 10-day ceasefire between Washington and Tehran, aimed at reopening the Strait of Hormuz and creating an opportunity for broader discussions on maritime security.

    However, uncertainty remained elevated after reports that Iran attacked a tanker in the Strait of Hormuz early on Tuesday, forcing the crew to abandon the vessel. The incident followed a tenth consecutive night of US airstrikes targeting Iran’s military capabilities linked to commercial shipping.

    Separately, Yemen’s Houthi movement announced a blockade of Saudi Arabia through the Bab al-Mandeb Strait, while Iran’s president declared the country had entered “full-scale war.” Meanwhile, diplomatic efforts continued, with Iran’s interior minister travelling to Pakistan for mediation talks.

    US President Donald Trump has yet to decide whether to support the proposed ceasefire or continue backing wider military operations alongside Israel, with officials suggesting the coming days will be critical.

    Government announces energy tax cut

    Domestically, newly appointed Prime Minister Andy Burnham announced that VAT on household electricity bills will be abolished from October 1, with the measure funded by cancelling the £1.8 billion Digital ID programme.

    “We’re taking immediate action to cut taxes on energy bills, put more money in people’s pockets and bring back hope,” Burnham said.

    Chancellor John Healey added that the policy would “help bring down inflation while supporting households in every postcode.”

    Government bond yields moved higher following the announcement.

    UK labour market remains resilient

    Fresh data from the Office for National Statistics showed the UK unemployment rate fell to 4.9% during the three months to May, outperforming forecasts of 5.0%.

    Employment increased by 148,000 over the quarter, comfortably ahead of economists’ expectations for an 80,000 gain, while the employment rate rose to 75.1%.

    Average weekly earnings increased by 4.3% year-on-year, slightly below the expected 4.5%, while regular pay excluding bonuses rose 3.4%, matching forecasts.

    Private sector regular pay growth stood at 2.9%, compared with 5.5% in the public sector, while job vacancies declined by 7,000 to 712,000 during the second quarter.

    Public borrowing declines in June

    The UK’s public finances also showed improvement, with public sector borrowing falling to £16.0 billion in June, a reduction of £7.9 billion compared with the same month last year and marginally below official forecasts.

    Borrowing for the financial year to date reached £57.6 billion, down £3.7 billion from a year earlier but still £2.7 billion above projections.

    Public sector net debt stood at 94.9% of GDP at the end of June, up 0.4 percentage points year-on-year and remaining close to levels last seen in the early 1960s.

    Commodities mixed as investors seek safety

    Oil prices eased despite ongoing geopolitical tensions, with Brent crude falling around 0.4% to $88.87 per barrel, while US WTI crude remained broadly unchanged near $82.46.

    Gold extended its rally as investors sought defensive assets, with futures climbing 1.6% to $4,078.52 an ounce and spot gold rising 1.7% to approximately $4,074.33.

    UK companies in focus

    Mitie Group (LSE:MTO) reported a 10% increase in first-quarter revenue, supported by contract wins, renewals and the acquisition of Marlowe. The company also agreed to a £3.1 billion takeover by OCS Group and suspended its £100 million share buyback programme.

    MONY Group (LSE:MONY) posted record first-half revenue and reiterated its full-year earnings guidance, with growth across its Insurance, Money and Home Services divisions helping offset weaker Cashback performance. Ongoing cost efficiencies and increased use of automation and artificial intelligence continued to support profitability.

    Compass Group (LSE:CPG) delivered 7.1% organic revenue growth during the third quarter as new business momentum accelerated into its target range. The catering group said it remains on course to achieve a fifth consecutive year of 4% to 5% net new business growth.

    Wickes Group (LSE:WIX) reported higher second-quarter revenue, driven by increased customer volumes and market share gains despite continued pricing pressure. The home improvement retailer maintained its fiscal 2026 profit guidance, supported by growth in its TradePro membership programme and digital sales.

  • Marston’s targets faster growth after World Cup boosts trading performance

    Marston’s targets faster growth after World Cup boosts trading performance

    Marston’s (LSE:MARS) reported a strong uplift in trading during the Football World Cup, with England matchdays generating like-for-like sales growth of 22%. The company’s Grandstand pub format delivered particularly impressive results, with sales rising approximately 170% year on year on England matchdays. Despite a softer trading environment outside peak periods, which left year-to-date like-for-like sales 1.6% lower overall, recently converted Grandstand venues continued to outperform, achieving around 30% like-for-like sales growth.

    The pub operator said ongoing cost discipline and improving operating margins have kept the business on track to meet full-year market expectations. Management now expects to achieve its EBITDA margin expansion target ahead of schedule and plans to accelerate investment in its most successful formats by completing around 100 additional Grandstand conversions during FY2027. As leverage falls towards approximately four times EBITDA, the company also intends to reintroduce shareholder returns through share buybacks while continuing to invest in growth opportunities.

    Marston’s outlook continues to improve as profitability and operating margins strengthen, although relatively high debt levels and softer cash flow remain factors for investors to monitor. Technical indicators still point to a broader downward share price trend despite signs that the stock may be oversold, while the company’s low price-to-earnings ratio continues to provide valuation support.

    About Marston’s

    Marston’s PLC is one of the UK’s largest pub operators, with a nationwide estate of more than 1,300 managed, partnership, tenanted and leased pubs. Listed on the London Stock Exchange under the ticker MARS, the company employs around 9,000 people and focuses on community-based hospitality supported by digital ordering and evolving pub formats.

    The group’s strategy centres on improving profitability through operational efficiency, format innovation and enhanced customer experiences. A key element of this approach is the expansion of its Grandstand pub concept, which is designed to maximise trading during major sporting events while driving higher customer engagement and long-term revenue growth.

  • MONY Group delivers record first-half revenue as AI strategy supports growth

    MONY Group delivers record first-half revenue as AI strategy supports growth

    MONY Group (LSE:MONY) reported record first-half results for 2026, with like-for-like revenue rising to £227.1 million and adjusted EBITDA reaching £75.5 million, both representing 1% growth on a reported basis. The performance marked the company’s fifth consecutive interim period of revenue growth, while earnings per share increased and operating costs declined. Management said it remains confident of delivering full-year adjusted EBITDA in line with current market expectations.

    Performance was supported by solid growth across the insurance, money and home services divisions. Home services revenue increased 30%, driven by strong demand for energy switching and expanding audience engagement through MoneySavingExpert. In contrast, cashback revenue declined 13% as softer retail spending and lower affiliate marketing budgets weighed on activity, while travel revenue fell to zero following the company’s move to a minority investment in Ice Travel Group.

    MONY Group continued to strengthen its customer proposition during the period, helping consumers save an estimated £1.5 billion. Its SuperSaveClub membership grew to more than 2.5 million users, while the MoneySavingExpert platform expanded to 3.5 million app downloads and approximately 9 million newsletter subscribers. The company also accelerated product development, transforming the MoneySuperMarket app into a broader personal finance platform while launching an investment service, a digital insurance broker for members and preparations for a new SME banking offering.

    Artificial intelligence remains a key element of the group’s strategy, with AI being used to improve customer journeys, increase conversion rates and automate internal processes. Alongside continued investment in technology, the board announced shareholder returns exceeding £90 million for 2026, including an ongoing share buyback programme worth around £25 million and a higher interim dividend of 3.36 pence per share.

    The company’s outlook continues to benefit from strong profitability, low leverage and healthy free cash flow generation. While technical indicators remain positive, elevated momentum signals suggest the shares may be approaching overbought territory in the near term. Overall, MONY Group continues to combine disciplined capital returns with investment in long-term digital growth initiatives.

    About MONY Group PLC

    MONY Group PLC is a leading UK digital consumer finance business and the owner of MoneySuperMarket, MoneySavingExpert and Quidco. The company helps consumers compare products across insurance, banking, energy and household services while expanding into areas including investments, business banking and membership-based savings programmes.

    Its strategy focuses on using digital technology and artificial intelligence to improve customer engagement, simplify financial decision-making and diversify revenue streams beyond traditional price comparison. Through its portfolio of brands, MONY Group has built an ecosystem spanning personal finance apps, editorial content, cashback services and comparison tools, serving both consumers and financial services providers.

  • Wickes delivers second-quarter sales growth and maintains full-year expectations

    Wickes delivers second-quarter sales growth and maintains full-year expectations

    Wickes (LSE:WIX) reported revenue growth of 2.3% during the second quarter of 2026, with like-for-like sales increasing across both its Retail and Design & Installation businesses. The home improvement retailer said trading remains in line with expectations and management continues to expect full-year adjusted profit before tax to meet current market forecasts.

    Retail sales returned to growth during the quarter, rising 1.8% year on year as higher customer numbers and increased sales volumes drove performance. TradePro sales climbed 6%, supported by continued engagement from professional trade customers and growing use of the company’s digital platforms. Meanwhile, the Design & Installation division recorded its fifth consecutive quarter of delivered sales growth, although demand for bespoke kitchens remained relatively subdued.

    Wickes continued to outperform the wider home improvement market during the first half, increasing market share through its value-focused proposition and ongoing investment in customer experience, digital capabilities and store improvements. The company is also progressing its property strategy through store refurbishments, refresh programmes and planned new openings. Its balance sheet remains strong, with net cash of £152 million following share buybacks and employee share purchases. Management expects further productivity improvements and lower business rates to provide additional support for profitability during the second half of the year.

    The company’s outlook reflects a combination of improving cash generation and a healthy financial position, balanced against relatively modest profitability and leverage considerations. While technical indicators remain cautious in the near term, Wickes continues to benefit from a reasonable valuation and an attractive dividend yield.

    About Wickes Group

    Wickes Group plc is a digitally focused home improvement retailer serving both trade professionals and DIY customers across the UK. The company operates 229 stores alongside a growing digital platform, offering building materials, home improvement products and project-based installation services.

    Its business is built around three core areas: TradePro services for professional customers, DIY retail and Design & Installation, which includes kitchens, bathrooms and solar energy solutions. Through its value-led strategy and continued investment in digital services and customer experience, Wickes aims to strengthen its market position in the UK home improvement sector.

  • Orcadian Energy Positions Earlham Gigagrid at the Heart of the UK’s AI Infrastructure Revolution

    Orcadian Energy Positions Earlham Gigagrid at the Heart of the UK’s AI Infrastructure Revolution

    As artificial intelligence accelerates global demand for data centres, one challenge is becoming increasingly clear: the future of AI depends as much on energy infrastructure as it does on computing power. Orcadian Energy believes it has a compelling solution, bringing together natural gas production, low-carbon electricity generation, carbon capture and storage, and AI-driven data centre demand within a single integrated development.

    Speaking on The Watchlist, Orcadian Energy (LSE:ORCA) CEO Steve Brown outlined the company’s vision for the Earlham Gigagrid, a project designed to maximise the value of the company’s gas resources while helping address one of the UK’s fastest-growing infrastructure challenges.

    Turning Gas into Digital Infrastructure

    Brown explained that the concept is built around converting natural gas into reliable electricity before ultimately transforming that energy into computing power for AI applications.

    Rather than simply producing gas, Orcadian aims to capture significantly greater value by supplying the dependable energy increasingly required by hyperscale data centres.

    “People will end up thinking we’re really quite innovative,” Brown said, highlighting how the project combines reliable low-carbon power generation, carbon capture and storage, and rapidly expanding AI-driven demand into one integrated opportunity.

    An Energy-First Approach

    The data centre industry is undergoing a fundamental shift. Historically, operators selected sites based primarily on available land before securing power connections. Today, according to Brown, that model has reversed.

    The limiting factor is no longer land—it’s energy.

    As AI workloads continue to expand, access to reliable, affordable electricity has become the defining requirement for new data centre developments. Brown believes this shift creates a significant opportunity for Orcadian.

    The Earlham field offers both a secure energy source and access to the North Sea, providing natural cooling capabilities that are increasingly valuable for energy-intensive computing facilities.

    Decades of Offshore Expertise

    One of Orcadian’s strongest competitive advantages lies in its offshore engineering experience.

    For over 50 years, North Sea oil and gas operators have managed highly reliable, mission-critical microgrids on offshore platforms. Brown believes this expertise transfers naturally to powering next-generation AI infrastructure, where uninterrupted electricity is essential.

    Combined with the cooling benefits of the surrounding North Sea, offshore locations could become some of the most attractive environments for future data centre development.

    Building Shareholder Value

    Looking ahead, Brown identified several milestones that could unlock substantial value over the next 12 months.

    The immediate priority is securing new investment into the Earlham  Gigagrid subsidiary. Additional capital would allow the company to fully evaluate the development concept, work alongside the North Sea Transition Authority (NSTA), and advance detailed project planning.

    Once the development framework is established, Orcadian intends to engage with major hyperscale and next-generation data centre operators.

    Brown expressed confidence that the project’s unique combination of secure energy supply, low-carbon credentials and integrated infrastructure could attract significant industry interest.

    Positioned at the Crossroads of Three Powerful Growth Trends

    The Earlham Gigagrid project represents more than a conventional energy development. It sits at the intersection of three major structural trends shaping the global economy:

    • Explosive growth in AI and cloud computing.
    • Rising demand for secure, reliable energy infrastructure.
    • The transition towards lower-carbon power generation with integrated carbon capture.

    As governments and technology companies invest billions into AI infrastructure, projects capable of delivering dependable electricity are becoming increasingly valuable strategic assets.

    By leveraging existing offshore expertise while reimagining how energy can power the digital economy, Orcadian Energy is positioning itself at the forefront of an emerging market where energy security and artificial intelligence converge.

    For investors, the coming year could prove pivotal as the company advances the Earlham Gigagrid concept from vision to execution, with several potential catalysts capable of significantly enhancing long-term shareholder value.

    For more information visit https://orcadian.energy/

  • Wall Street futures edge higher as easing oil prices boost market sentiment: Dow Jones, S&P, Nasdaq

    Wall Street futures edge higher as easing oil prices boost market sentiment: Dow Jones, S&P, Nasdaq

    U.S. futures signal rebound after last week’s sell-off

    U.S. stock index futures traded higher on Monday, pointing to a positive start for Wall Street after markets ended last week with two consecutive sessions of heavy losses.

    Investors appeared willing to return to equities following the recent pullback, with technology shares expected to lead the recovery. Nasdaq 100 futures climbed 0.9%, reflecting renewed optimism after sharp declines across the sector.

    Falling oil prices lift investor confidence

    Market sentiment also improved as oil prices retreated from earlier highs. Brent crude briefly traded above $90 a barrel before easing after comments from Iran suggested there may still be room for diplomatic negotiations.

    Iranian Foreign Ministry spokesperson Esmail Baghaei said Tehran could pursue talks based on national interests after the United States carried out its ninth straight night of strikes against Iran.

    “Oil prices have pulled back from their overnight highs on reports that Iran has received new proposals for negotiations, raising hopes that diplomatic channels remain open despite the recent escalation in hostilities,” said Daniela Hathorn, Senior Market Analyst at Capital.com.

    She added, “While the conflict remains far from resolved, the prospect of renewed talks has eased immediate concerns over further disruptions to oil supply and shipping through the Strait of Hormuz.”

    Technology stocks remained under pressure last week

    Wall Street finished Friday sharply lower, extending losses as investors continued to reduce exposure to technology stocks.

    The Nasdaq dropped 361.70 points, or 1.4%, to 25,520.24. The S&P 500 lost 76.08 points, or 1.0%, to 7,457.69, while the Dow Jones Industrial Average fell 406.55 points, or 0.8%, to 52,146.42.

    Over the course of the week, the Nasdaq declined 2.9%, the S&P 500 fell 1.6% and the Dow slipped 0.9%.

    Netflix (NASDAQ:NFLX) was among the weakest performers after its shares dropped 7.3% despite reporting quarterly results that largely met expectations, as investors reacted negatively to its third-quarter outlook.

    Attention is now turning to earnings from Alphabet (NASDAQ:GOOGL), IBM Corp. (NYSE:IBM), Tesla (NASDAQ:TSLA) and Intel (NASDAQ:INTC), while elevated valuations across AI and semiconductor companies continue to be closely watched.

    “With sentiment brittle, investors are becoming increasingly wary of valuations in the AI and technology sector – most notably in the memory chip space where share prices have surged to unprecedented levels this year. AJ Bell investment director Russ Mould.

    Airlines, brokers and chipmakers led declines

    Friday’s surge in crude oil prices, driven by escalating Middle East tensions, weighed on several sectors across the market.

    Airline shares came under heavy selling pressure, pushing the NYSE Arca Airline Index down 3.5%, while the NYSE Arca Broker/Dealer Index lost 2.3%.

    Semiconductor stocks also weakened, sending the Philadelphia Semiconductor Index down 1.6% to its lowest closing level in nearly two months.

    Housing, software and retail stocks also finished lower, whereas oil producers and computer hardware companies outperformed.

  • European markets trade mixed as oil rally fuels inflation concerns: DAX, CAC, FTSE100

    European markets trade mixed as oil rally fuels inflation concerns: DAX, CAC, FTSE100

    European equities delivered a mixed performance on Monday after escalating tensions in the Middle East lifted Brent crude above $90 per barrel for the first time in a month, renewing concerns that higher energy prices could add to inflationary pressures, influence interest rate expectations and weigh on economic growth.

    Market participants are also preparing for earnings reports from major U.S. technology companies and this week’s European Central Bank policy meeting. The ECB is widely expected to keep interest rates unchanged after delivering its first rate increase in almost three years on June 11.

    German producer prices extend annual gains

    German government bond yields climbed to their highest level in two years after fresh data showed producer prices increased for a third consecutive month in June.

    According to Destatis, producer prices rose 1.8 percent year over year in June, easing from the 2.2 percent increase recorded in May.

    The latest increase marked the third straight month of annual growth, supported mainly by higher intermediate goods costs and rising energy prices.

    On a monthly basis, producer prices declined 0.3 percent, compared with economists’ expectations for a 0.2 percent decrease.

    FTSE falls while DAX and CAC advance

    The U.K.’s FTSE 100 Index fell 0.3 percent, while Germany’s DAX Index gained 0.2 percent and France’s CAC 40 Index added 0.4 percent.

    In company news, budget airline Ryanair (LSE:0A2U) declined after reporting a 34 percent fall in fiscal first-quarter profit, missing analysts’ expectations.

    Self-storage specialist Big Yellow Group (LSE:BYG) also traded lower after announcing first-quarter revenue growth of 3 percent.

  • US stock futures rise as oil tops $90 and investors await Big Tech earnings: Dow Jones, S&P, Nasdaq, Wall Street

    US stock futures rise as oil tops $90 and investors await Big Tech earnings: Dow Jones, S&P, Nasdaq, Wall Street

    U.S. equity futures moved modestly higher on Monday as investors monitored escalating tensions in the Middle East while preparing for a busy week of earnings from some of the world’s largest technology companies.

    Dow Jones futures gained around 0.1% in early trading, while S&P 500 futures advanced 0.2%. Nasdaq 100 futures led the gains, rising 0.5% as markets looked ahead to quarterly results from several major technology names.

    Wall Street ended Friday’s session lower after renewed concerns emerged over the sustainability of heavy investment in artificial intelligence. Although AI-related stocks have been a major driver of market performance this year, some investors have begun reducing exposure as valuations come under greater scrutiny.

    The semiconductor sector remained under pressure, with the Philadelphia Semiconductor Index falling more than 20% from its June high, placing the benchmark in bear market territory.

    Analysts at Vital Knowledge said, “For tech investors, bears won the week overwhelmingly, although the slump was more a function of narrative shift and technical dislocation (extremely crowded and complacent positioning and bullish but stale sentiment) than incrementally negative news flow.”

    Geopolitical tensions keep energy markets in focus

    Markets also continued to react to developments in the Middle East after the United States carried out military operations against Iran for a ninth consecutive day.

    Iran reported that two oil tankers had been disabled, while the Islamic Revolutionary Guards Corps said it had targeted U.S. military assets in Jordan, Kuwait and Syria. Bahrain also activated emergency warning sirens, highlighting the growing regional tensions.

    The continuing conflict has increased uncertainty over shipping through the Strait of Hormuz, a key route for global oil and liquefied natural gas exports.

    Oil prices extend gains

    Brent crude climbed 2.8% to $90.56 per barrel, returning above the $90 mark, while U.S. West Texas Intermediate crude rose 2.3% to $84.39 per barrel.

    The renewed rally has intensified concerns that higher energy prices could fuel inflation and encourage central banks to keep interest rates elevated for longer.

    Moonshot AI eyes Hong Kong IPO

    Bloomberg News reported that Chinese artificial intelligence company Moonshot AI is preparing for a potential Hong Kong listing within the next six months.

    The company is also said to be completing a private fundraising round that could value the business at more than $30 billion, following strong investor interest in its Kimi K3 AI model.

    SpaceX targets next Starship launch

    SpaceX (NASDAQ:SPCX) said it aims to conduct the thirteenth test flight of Starship on Thursday after last week’s launch attempt was called off because of engine issues.

    The mission will seek to complete a successful launch, stage separation and landing while deploying Starlink V3 satellites.

  • Market Open: Craneware Cyber Security Incident, Gulf Keystone Suspends Shaikan Production

    Market Open: Craneware Cyber Security Incident, Gulf Keystone Suspends Shaikan Production

    FTSE 100 opens flat as oil tops $90 on Middle East tensions. Craneware contains a cyber incident while Gulf Keystone halts Shaikan production.

    Market Overview

    The FTSE 100 opened broadly unchanged at 10,600.27, while the Euronext 100 slipped 0.02 per cent and Germany’s DAX fell 0.16 per cent. US markets closed weaker on Friday, with the Nasdaq ending at 25,520.24 and the S&P 500 finishing at 7,457.69. Market sentiment remained under pressure as escalating US-Iran tensions drove oil prices sharply higher, while investors also looked ahead to the European Central Bank meeting and the latest US technology earnings.

    Commodity markets reflected the heightened geopolitical backdrop, with Brent crude extending gains while copper, gold and natural gas were little changed. Bitcoin weakened slightly against sterling. Sterling strengthened modestly against the US dollar and Australian dollar, was broadly steady against the euro, and softened slightly against the Swiss franc and Japanese yen as investors continued to favour defensive assets.

    Market Numbers

    FTSE 100: Down (0.001%), 10,600.27

    Euronext 100: Down (-0.02%), 1,905.03

    DAX: Down (-0.16%), 24,790.34

    NASDAQ: Down, 25,520.24

    S&P 500: Down, 7,457.69

    In the Headlines

    Cyber security – Craneware (LSE:CRW)
    Craneware said it has contained a cyber security incident, with customer-facing services remaining fully operational. The company continues to investigate the incident while maintaining business continuity, helping to limit operational and market disruption.

    Production halt – Gulf Keystone Petroleum (LSE:GKP)
    Gulf Keystone has temporarily suspended production at its Shaikan oil field in the Kurdistan Region of Iraq due to deteriorating regional security conditions. The move highlights the growing operational risks facing energy producers as geopolitical tensions intensify.

    Currencies (vs GBP)

    USD: Up (0.00%), $1.3445

    CHF: Down (-0.02%), Fr.1.087

    EUR: Up (0.00%), €1.1766

    JPY: Down (-0.00%), ¥218.521

    AUD: Up (0.00%), $1.9266

    Bitcoin (BTC/GBP): Down, £47, 599.95

    Commodities

    Copper: Up

    Gold: Down

    Brent Crude: Up

    Natural Gas: Up