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U.S. stock futures are signaling a modest rise at Wednesday’s market open, suggesting investors may push equities higher after a mostly flat and volatile session on Tuesday.

The cautious optimism on Wall Street appears linked to progress in trade talks between the United States and the European Union.

According to the Financial Times, EU negotiators are nearing an agreement with the U.S. that would establish tariffs higher than those currently applied to the U.K.

However, early trading could remain tentative due to renewed trade tensions, as President Donald Trump announced a hefty 50% tariff on copper imports and warned of even steeper tariffs on other sectors, including a possible 200% duty on pharmaceuticals.

In a post on Truth Social Tuesday night, Trump stated he will “be releasing a minimum of 7 Countries having to do with trade” this morning, with “an additional number of Countries being released in the afternoon.”

Attention also turns to the Federal Reserve, which will publish minutes from its latest policy meeting later today.

These minutes may provide further insights into the Fed’s interest rate outlook before its next gathering on July 29-30.

Currently, CME Group’s FedWatch Tool shows a 93.3% probability that the Fed will keep rates steady later this month.

After a sharp retreat on Monday, markets remained indecisive on Tuesday, oscillating around the unchanged line before closing mixed.

The Nasdaq inched up slightly by 5.95 points, less than 0.1%, to 20,418.46; meanwhile, the S&P 500 slipped 4.46 points (0.1%) to 6,225.52, and the Dow dropped 165.60 points (0.4%) to 44,240.76.

Investors held back from making bold moves amid ongoing uncertainty over Trump’s trade stance.

On Monday, Trump extended the suspension of reciprocal tariffs on U.S. trading partners through an executive order.

The order extends the 90-day tariff suspension, initially set to expire Wednesday, until August 1, citing “additional information and recommendations from various senior officials.”

Trump told reporters the new deadline is “not 100 percent firm,” but on Truth Social this morning he declared “No extensions will be granted,” adding to market uncertainty.

The deadline extension follows a series of letters Trump posted on Truth Social threatening higher tariffs on at least 14 countries.

With little major U.S. economic data expected before the Fed minutes release, some traders remained on the sidelines.

Despite the muted market tone, energy stocks showed notable strength, with the Philadelphia Oil Service Index surging 5.3% and the NYSE Arca Oil Index climbing 3.4%.

Semiconductor stocks also performed well, as the Philadelphia Semiconductor Index gained 1.8%.

Biotech and steel sectors demonstrated solid gains, while gold stocks dropped sharply, tracking the fall in precious metal prices.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities largely gained ground on Wednesday amid growing anticipation over developments in the U.S.-EU trade negotiations.

Reports from the Financial Times suggest that the European Union and the United States are nearing a trade agreement, which would impose tariffs higher than those applied to the U.K.

Among major indices, the German DAX rose 1.2%, while France’s CAC 40 increased by 1.3%. The U.K.’s FTSE 100 also advanced modestly, up 0.2%.

In corporate updates, Galliford Try Holdings (LSE:GFRD) rallied following its projection that full-year 2025 revenue and adjusted pre-tax earnings will slightly surpass market expectations.

Energy services company Hunting Plc (LSE:HTG) surged after releasing robust half-year figures and announcing a $40 million share buyback initiative.

EssilorLuxottica (EU:EL) gained significantly after Meta Platforms (NASDAQ:META) acquired a minority stake in the global eyewear giant.

German manufacturer Renk (TG:R3NK) also climbed higher amid rumors it is exploring options for its civilian industrial business unit.

Conversely, shares of British advertising firm WPP (LSE:WPP) declined sharply after the company lowered its earnings outlook for both the first half and full fiscal year 2025.

Close Brothers (LSE:CBG) shares fell following the announcement of plans to downsize its premium finance division to reduce costs and sharpen its focus on business services.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The U.S. dollar edged higher early Wednesday, hovering near its strongest level in more than two weeks as global markets digested renewed trade tensions triggered by President Donald Trump’s tariff threats—including a potential 50% duty on copper imports.

As of 04:45 ET (08:45 GMT), the Dollar Index—which measures the greenback against six major currencies—was up 0.1% at 97.267, after hitting its highest level since June 25 during Tuesday’s session.

Greenback Buoyed by Safe-Haven Demand Ahead of Fed Minutes

The dollar gained ground after Trump signaled a more aggressive trade stance, announcing plans for new tariffs on copper and hinting that duties on semiconductors and pharmaceuticals could follow soon. In a social media post late Tuesday, the president said a list of countries facing new trade restrictions would be published Wednesday, with more names to come later in the day. He had already sent formal tariff letters to 14 countries—including Japan and South Korea—earlier this week.

While markets continue to monitor developments on trade, attention is also turning to the Federal Reserve, which is set to publish minutes from its June policy meeting later in the session. Investors are eager for clues about the Fed’s next steps on interest rates.

At the June meeting, policymakers left the benchmark rate unchanged in a range of 4.25%–4.50%, emphasizing caution amid growing uncertainty around how tariffs may impact the broader U.S. economy.

According to analysts at ING, “The consensus expectation is probably that two members, Bowman and Waller, will have flagged their dissent at the meeting before delivering dovish comments to the media a few days later. But if the minutes show a greater dovish front, then the dollar could take a hit as the bar for data to justify a summer cut would be lower.”

Euro Slides as Trade Uncertainty Looms

The euro slipped against the dollar, with EUR/USD falling 0.2% to 1.1703. The single currency came under pressure after Trump suggested a formal tariff notice targeting the European Union was imminent, adding tension to ongoing transatlantic trade talks.

ING strategists noted, “Tariffs on the EU would mark an important escalation that can also harm the dollar, offsetting the hit on the euro. Anyway, the market’s baseline will probably remain that a EU-US deal should be agreed by the 1 August deadline, and EUR/USD may not drift far from the 1.16-1.18 area unless U.S. data surprises in either direction.”

Sterling Rises on Trade Deal Advantage

The British pound saw modest gains, with GBP/USD up 0.2% to 1.3595. The U.K.’s existing trade agreement with the Trump administration has insulated it somewhat from the current tariff headlines, providing a slight lift to sterling.

Asian Currencies Mixed as CPI Data Hits

In Asia, the Japanese yen weakened slightly, with USD/JPY up 0.1% to 146.70, while the Chinese yuan also edged lower, with USD/CNY gaining 0.1% to 7.1813. China’s June consumer price index showed a modest rise, buoyed by government subsidies and easing trade concerns, which helped sustain consumer activity.

Meanwhile, the Australian dollar held its ground after a sharp rally on Tuesday, trading 0.1% higher. The Reserve Bank of Australia unexpectedly left interest rates unchanged, giving the currency a short-term boost.

The New Zealand dollar (NZD/USD) also moved 0.1% higher to 0.6002 after the Reserve Bank of New Zealand kept its benchmark rate steady, though officials suggested they could cut rates if inflation continues to trend lower.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Tesco PLC (LSE:TSCO) revealed plans on Wednesday for a significant multi-million-pound investment to bolster its nationwide retail network.

The UK’s leading grocery retailer is set to construct a new, state-of-the-art distribution centre at DP World London Gateway, with operations slated to begin in 2029.

This initiative forms part of Tesco’s long-term strategy to scale up its logistics infrastructure in line with its growing number of stores throughout the UK.

The planned facility is designed to enhance the supermarket’s supply chain efficiency and support its ambitions for sustained expansion in the years ahead.

Tesco’s latest move underscores its commitment to modernizing its distribution framework and ensuring it remains resilient and adaptable well into the future.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Shares in Antofagasta PLC (LSE: ANTO) dipped sharply as markets reacted to President Trump’s surprise proposal of a 50% tariff on copper imports.

Despite a surge in U.S. copper futures—fueled by a rush to front-load shipments ahead of the potential levies—Antofagasta’s stock dropped as much as 3%. The Chilean miner, which exports significant volumes of copper to the U.S., faces heightened uncertainty under the proposed trade measure.

The tariff threat, aimed at boosting domestic production, has triggered volatility across global copper markets. While New York copper prices jumped to a strong premium over London benchmarks, analysts warned the move could dent American demand and disrupt international supply chains.

For foreign producers like Antofagasta, the risk is twofold: potential loss of market share and pressure to cut prices, which could erode margins despite the current price rally.

Investors reacted swiftly to the policy risk, sending Antofagasta shares down 44p to 1,874.25p amid broader market unease.

Disclaimer:
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Shares in 80 Mile PLC (LSE:80M) surged by around 13% in early trading on Wednesday after the company announced a key memorandum of understanding (MoU) in Italy that could lead to a significant biofuel supply agreement.

Under the MoU, Greenswitch—a subsidiary partially owned by 80 Mile—will supply 40,000 tonnes of biofuel annually to Tecnoparco, an Italian multi-utility firm. The agreement aims to streamline the supply chain, cut shipping costs, and replace imported biofuels with a more sustainable, locally sourced alternative.

Managing Director Eric Sondergaard described the deal as a “win-win” for both parties: “Greenswitch gains a local buyer for its biofuel, while Tecnoparco replaces imported palm oil with a cleaner, nearby alternative. The proximity of the supplier adds further environmental and economic value.”

Sondergaard also hinted at further growth opportunities: “We’re excited about the potential for similar agreements in the near future and will keep shareholders updated.”

Separately, 80 Mile announced it now holds a 49% stake in the Hydrogen Valley project. The company also renegotiated the Stage 3 option of its acquisition of Greenswitch, replacing a planned £1 million share issuance with a £380,000 loan—reducing dilution and preserving capital. This revised option remains valid until December 2026.

Sondergaard added, “We continue to strengthen our position in the sustainable and renewable energy sectors through the integration of Greenswitch. We have the option to increase our stake to 100% between December 2025 and December 2026.”

As of Wednesday morning, 80 Mile shares were up 11.46%, trading at 0.27p and valuing the company at just over £10 million.

Disclaimer:
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures showed little movement early Wednesday as investors processed a flood of tariff updates and awaited the Federal Reserve’s June meeting minutes. President Donald Trump reaffirmed his firm stance on the new tariff deadline, while signaling plans to expand his trade restrictions with a proposed 50% tariff on imported copper. Meanwhile, White House economic advisor Kevin Hassett is emerging as a leading candidate to succeed Jerome Powell as Fed Chair.

Futures Quiet Ahead of Fed Minutes

As of 03:31 ET (07:31 GMT), Dow futures remained flat, S&P 500 futures dipped marginally by 3 points (0.1%), and Nasdaq 100 futures slipped 14 points (0.1%). Wall Street’s main indexes closed mixed Tuesday despite numerous trade-related announcements. Markets welcomed the White House’s decision to push back the tariff implementation deadline to August 1, a delay from the original date set for Wednesday.

“Investors appear to be taking President Trump’s latest tariff threats in stride, focusing on the extension of today’s deadline for reinstating reciprocal tariffs,” said Jonas Goltermann, Deputy Chief Markets Economist at Capital Economics.

Trump Confirms Tariff Deadline, Eyes Copper Duties

At a recent cabinet meeting, Trump emphasized that the August 1 tariff deadline is final, despite earlier comments describing it as “not 100% firm.” He reported positive progress in talks with the European Union and China but warned that the EU would soon receive its own tariff notice.

In a significant development, Trump proposed slapping a 50% tariff on copper imports, underscoring his trade policy’s sector-specific ambitions. Copper plays a vital role in vehicle manufacturing, military equipment, and power infrastructure.

The president also hinted at forthcoming tariffs on other sectors, including pharmaceuticals and semiconductors.

Treasury Secretary Scott Bessent highlighted that tariffs have generated $100 billion in revenue for the U.S. so far this year, with projections reaching $300 billion by year-end. The bulk of collections began in Q2 following Trump’s imposition of a 10% baseline duty and higher tariffs on steel, aluminum, and automobiles.

Analysts note that tariff revenues have become increasingly important for the administration to offset costs associated with recent tax cuts and spending packages.

Focus Turns to Fed Meeting Minutes

Investors are now closely monitoring the upcoming release of the Federal Open Market Committee’s June meeting minutes for clues on the future path of interest rates. Policymakers held rates steady at 4.25%-4.5%, adopting a cautious “wait-and-see” approach amid the evolving tariff landscape.

Chair Jerome Powell has reiterated the rationale for patience but acknowledged that, without tariff uncertainties, rate cuts may have already been initiated.

Market consensus anticipates two rate reductions before the end of 2025, potentially beginning in September, followed by another in December. However, uncertainty persists as Trump intensifies pressure on Powell, labeling him “terrible” and demanding his resignation to appoint a rate-cutting replacement.

Kevin Hassett Emerging as Top Fed Chair Candidate

The Wall Street Journal reported Tuesday that White House economic adviser Kevin Hassett is a frontrunner to replace Powell. Once considered a secondary choice behind former Fed governor Kevin Warsh, Hassett has reportedly met with Trump multiple times regarding the Fed role.

Speculation grows that Trump may accelerate the nomination process, possibly announcing a successor later this year. Powell has held the chair position since 2017.

Oil Prices Flat Amid Rising U.S. Inventories

Oil prices remained steady Wednesday following data revealing a sharp increase in U.S. crude inventories, raising concerns that tariffs might dampen demand.

At 03:30 ET, Brent crude futures inched up 0.1% to $70.19 per barrel, while West Texas Intermediate futures held steady at $68.36 per barrel.

Both contracts had climbed to two-week highs Tuesday on supply disruption fears after recent Houthi attacks targeted shipping lanes in the Red Sea.

The American Petroleum Institute reported an unexpected 7.1 million barrel increase in U.S. crude stocks for the week ending July 4, vastly surpassing the anticipated 2.8 million barrel drawdown.

Market participants now await official data from the Energy Information Administration later Wednesday, with Independence Day travel expected to boost fuel demand.

British equities started Wednesday’s trading session on a positive note, with the FTSE 100 rising nearly 1% by 07:36 GMT. Meanwhile, the British pound regained ground against the dollar, climbing 0.2% to approximately $1.36 after previously dipping amid renewed worries about tariffs.

Across Europe, Germany’s DAX index gained 0.4%, while France’s CAC 40 also rose by 0.4%.

WPP Shares Tumble Over 12% Following Revenue Forecast Downgrade

Advertising giant WPP (LSE:WPP) saw its shares fall sharply after the company reduced its full-year revenue and profit guidance. Weak trading during June led to a steeper than anticipated decline in the first half of 2025.

WPP now expects its 2025 like-for-like revenue, excluding pass-through costs, to decline between 3% and 5%, a marked revision from its earlier forecast of flat to a 2% decrease. The company cited challenging macroeconomic conditions and reduced net new business wins as primary drivers of the weaker outlook.

Hunting PLC Raises Dividend Growth Target and Announces Buyback Plan

Engineering group Hunting PLC (LSE:HTG) reported a robust H1 2025, with EBITDA up around 16% year-on-year, reaching approximately $68-$70 million. The growth was largely fueled by strong performance in its OCTG product segment.

Hunting boosted its targeted annual dividend growth from 10% to 13% and revealed plans for a $40 million share buyback program, following the publication of its half-year results on August 28. The company maintained its full-year EBITDA forecast of roughly $135-$145 million and expects year-end cash between $65 million and $75 million prior to the buyback and any acquisitions.

Jet2 Posts 12% Increase in Pre-Tax Profits

Jet2 (LSE:JET2) announced a 12% rise in pre-tax profits for the year, driven by strong demand for its competitively priced holiday packages and flights. The company noted that bookings remain steady, although customers tend to arrange travel closer to departure dates.

Jet2 emphasized that consumer enthusiasm for relaxing overseas vacations in sunny destinations remains high.

Young & Co Benefits from Warm UK Weather with 7% Sales Growth

Pub operator Young & Co (LSE:YNGA) experienced a boost in like-for-like sales of 7% over the 14 weeks ending July 8, benefiting from prolonged warm and sunny weather in the UK. This increase was particularly noticeable in pubs located by riversides and with outdoor gardens. The growth comes despite tough comparisons with last year’s Euro 2024 football tournament period.

New Report Urges Chancellor Reeves to Reform Fiscal Rules

A recent report from the Productivity Institute and the National Institute of Economic and Social Research suggests that Chancellor Rachel Reeves should overhaul fiscal policy to improve productivity. The analysis argues current rules hinder essential investment for sustainable economic growth and tax revenue expansion.

The report advises setting a minimum public investment threshold of about 4%-5% of GDP and establishing a clear plan for government consumption in the upcoming autumn budget.

Competition Regulator Approves £100 Million Contribution from Homebuilders

In a separate development, the U.K.’s Competition and Markets Authority (CMA) has accepted a £100 million pledge from seven major homebuilders to support affordable housing initiatives. This follows an investigation into possible antitrust violations by these companies.