Tag: Brent Crude

  • MCX Gold Slips 0.27% to Rs 1,48,800 Amid US-Iran Tensions and Rising Oil Prices

    MCX Gold Slips 0.27% to Rs 1,48,800 Amid US-Iran Tensions and Rising Oil Prices

    Gold prices on the Multi Commodity Exchange (MCX) declined on September 29 as geopolitical tensions between the United States and Iran over the Strait of Hormuz continued to push energy costs higher, increasing pressure on the Federal Reserve to maintain elevated interest rates.

    October gold futures fell 0.27% to Rs 1,48,500 per 10 grams, while September silver futures dropped 0.46% to Rs 2,46,130. In the international market, Brent crude futures rose 1.80% to USD 107.2 per barrel, and US West Texas Intermediate (WTI) gained 1.75% to USD 94.22 per barrel.

    Domestic Gold Prices

    In India, 24K gold fell by Rs 137 to Rs 1,48,800 per 10 grams, and 22K gold declined by Rs 125 to Rs 1,36,400. City-wise, Mumbai and Kolkata reported prices of Rs 1,48,800, Delhi at Rs 1,48,950, and Chennai at Rs 1,49,080.

    US Gold Prices

    In the United States, gold prices edged higher on Tuesday but remained near their lowest level in over seven weeks amid concerns that the Fed could keep rates higher for longer. Spot gold rose 0.4% to USD 4,130.58 per ounce, while US gold futures fell 0.2% to USD 4,162.20. Spot silver declined 0.9% to USD 60.42, platinum slipped 1.3% to USD 1,697.71, and palladium lost 0.8% to USD 1,205.27.

    Key Levels to Watch

    Christopher Tahir, senior market strategist at Exness, noted: “Geopolitical developments will remain crucial for gold, as continued tensions could keep energy prices and yields elevated, while meaningful progress toward de-escalation could ease pressure. Persistent price pressures combined with resilient activity would reinforce expectations that central banks need to remain restrictive, keeping yields elevated and leaving gold vulnerable to further losses.”

    On the daily chart, XAU/USD trades at USD 4,130, holding below the 20-day, 50-day, and 100-day simple moving averages clustered between roughly USD 4,290 and USD 4,330, which keeps the near-term bias bearish. The Relative Strength Index (14) near 36 suggests weak momentum but not outright oversold conditions, hinting that bears retain control.

    Immediate support is seen at the rising trend-line base near USD 3,990, where dip-buying interest could emerge if the current pullback extends. On the upside, the first resistance band is defined by the 100-day SMA at USD 4,292, followed closely by the 50-day SMA at USD 4,321 and the 20-day SMA at USD 4,325, forming a dense supply zone that gold would need to reclaim to ease bearish pressure.

  • FTSE 100 Opens Higher at 10,717.59 Despite Global Bond Sell-Off; Brent Crude Holds Above $106

    FTSE 100 Opens Higher at 10,717.59 Despite Global Bond Sell-Off; Brent Crude Holds Above $106

    The FTSE 100 opened Friday’s session 37.60 points higher at 10,717.59, shrugging off continued pressure from a global bond sell-off that pushed the 10-year gilt yield to its highest level in more than a week. Investor attention remains fixed on escalating tensions in the Middle East following fresh Houthi missile attacks on Saudi Arabia, while oil prices hovered near recent levels.

    Oil and currency movements

    Brent crude futures edged down 0.29% to USD 106.3 per barrel, while US West Texas Intermediate dropped 1.11% to USD 93.56. In currency markets, sterling was quoted at USD 1.3219 early Friday, up slightly from USD 1.3214 at the London equities close on Thursday. Against the euro, the pound eased to EUR 1.1620 from EUR 1.1628.

    Leading gainers and losers

    Computacenter led the FTSE 100 risers, climbing 3.15% to 5,405p. Smiths Group advanced 2.25% to 2,819p, while Standard Chartered gained 1.86% to 2,299p. Aberdeen Group rose 1.83% to 245.40p, followed by Endeavour Mining and Glencore, which each added 1.57%.

    On the downside, BP slipped 2.47% to 557.70p, British American Tobacco dropped 1.11% to 4,196p, and Unilever declined 1.00% to 4,661.50p. Reckitt Benckiser and Shell each fell 0.41%, while Admiral Group retreated 0.39%.

    Gilt yields hit multi-day high

    The 10-year gilt yield reached 5.38% on Thursday, its highest level in over a week, as bond markets around the world came under selling pressure. Higher bond yields tend to raise borrowing costs for companies and governments, and traders are closely watching whether the Bank of England will respond. Reuters reported that markets now expect at least one 25-basis-point rate hike from the BoE this year.

    FT and Bloomberg UK profits rise

    Company filings show that the UK operations of the Financial Times and Bloomberg posted higher profits in 2025. The Financial Times increased its profit by GBP 6 million to just under GBP 15 million for the year. Bloomberg Index Services, a UK subsidiary of the US firm that supplies data through the Bloomberg Terminal, saw profit rise by $12 million to around USD 125 million (GBP 94 million). Bloomberg attributed its 10% increase in turnover to ‘growth from new business and the expansion of existing customer relationships,’ while the FT cited growth in digital subscriptions and sales from live events.

    Harworth backs Peel Holdings takeover

    Land developer Harworth has recommended that shareholders accept a GBP 632 million takeover offer from its largest shareholder, Peel Holdings. The 187p-per-share bid represents a 30% premium over Harworth’s closing price on the day Peel first made its offer. The firm told investors the deal gives them the ‘opportunity to realise the entirety of their interests in cash against the current uncertainty presented by a weak macroeconomic backdrop.’

    Global markets mixed

    In the US, the Dow Jones fell 161.61 points, or 0.31%, to 51,349.98. The S&P 500 slipped 0.02% to 7,704.13, while the Nasdaq Composite edged up 0.01% to 26,939.37. In Asia, Tokyo’s Nikkei 225 gained 1.3% to 66,364.2. China’s Shanghai Composite declined 1.22%, Hong Kong’s Hang Seng fell 1.03%, and South Korea’s Kospi rose 0.9%. In India, both the Nifty 50 and the Sensex finished lower.

    This article is for informational purposes only and does not constitute investment advice.

  • FTSE 100 Opens Higher as Middle East Tensions Push Brent Above $105, Treasury Yields Climb

    FTSE 100 Opens Higher as Middle East Tensions Push Brent Above $105, Treasury Yields Climb

    The FTSE 100 opened 20.23 points higher at 10,725.49 on Thursday, as ongoing tensions in the Middle East kept oil prices elevated above $105 per barrel, while surging US Treasury yields continued to weigh on risk appetite across European markets.

    Brent crude futures rose 2.46% to $105.6 per barrel, and US West Texas Intermediate (WTI) advanced 2.20% to $94.19 per barrel. Sterling traded at $1.3243 early Thursday, slightly lower than $1.3254 at the London equities close on Wednesday. Against the euro, sterling fell to €1.1628 from €1.1636.

    Gainers and Losers

    On the upside, JD Sports Fashion rose 2.18% to 75.84p, British American Tobacco advanced 1.91% to 4,278p, and Antofagasta gained 1.50% to 3,802p. Glencore rose 1.48% to 560.70p, Bunzl added 1.28% to 2,686p, and BP increased 1.26% to 564.20p.

    On the downside, Standard Life fell 3.83% to 890.50p, Computacenter dropped 1.37% to 5,405p, and Pershing Square Holdings declined 1.20% to 3,616p. Admiral Group slipped 0.71% to 3,646p, Games Workshop Group fell 0.62% to 17,620p, and AstraZeneca edged 0.40% lower to 12,380p.

    Vistry Shares Fall After Loss and Downsizing Plans

    Vistry shares slumped after the company reported a £661 million pre-tax loss and announced plans to downsize, spooking investors. The housebuilder fell by as much as 7% to 248p in early trade.

    Adam Vettese, market analyst at eToro, commented: “This morning’s sell-off is the market calling time on another year of moving goalposts. Adam Daniels is doing the unglamorous work of shrinking Vistry to 12,000 homes, exiting South East private sales and cutting a land bank that was too big for the returns it produced. That is the right diagnosis; it does not make the next twelve months any cleaner.”

    On the Beach Posts Record Bookings

    On the Beach recorded a 9% rise in bookings, pushing total transaction value to £1.3 billion, marking the fifth consecutive year of record highs. The growth was fueled by a summer booking rebound, with volumes 4% ahead of the prior year, as more customers purchased trips closer to departure dates.

    Chief executive Shaun Morton attributed the uptick to “strategic investments” in technology and the company’s expanded product offering. The firm estimates pre-tax profit of £28 million to £35 million in the next financial year but remains “mindful” of the impact the Iran war is having on consumer confidence.

    Halma Raises Margin Outlook

    Halma raised its outlook for the annual adjusted operating profit margin, citing strong first-half progress. The health and safety device maker now expects an adjusted EBIT margin of 23.5% to 24% for the year through March 2027, up from its previous guidance of around 22.7%.

    The company maintained its forecast for low double-digit percentage organic constant-currency revenue growth, including roughly five percentage points of premium growth from its photonics business.

    Global Market Overview

    In the US, the S&P 500 dropped 0.75% to close at 7,706.03, while the Nasdaq Composite fell 1.13% to 26,936.04. The Dow Jones Industrial Average was down 352.10 points, or 0.68%.

    In Asia on Thursday, Tokyo’s Nikkei 225 gained 0.76% to 65,513.99, while China’s Shanghai Composite dipped 1.22%. Hong Kong’s Hang Seng declined 0.29%, and South Korea’s Kospi edged up by 0.9%. In India, both the Nifty 50 and the Sensex fell by 1.61% and 1.60%, respectively.

    Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing involves risk. Always conduct your own research before making any investment decisions.

  • FTSE 100 Opens Higher Amid Middle East Tensions; Brent Crude Surges Past $105

    FTSE 100 Opens Higher Amid Middle East Tensions; Brent Crude Surges Past $105

    The FTSE 100 opened 20.23 points higher at 10,725.49 as renewed geopolitical tensions in the Middle East pushed oil prices above $105 per barrel, while rising US Treasury yields continued to weigh on risk appetite across European markets.

    Brent crude futures rose 2.46% to $105.6 per barrel, and US West Texas Intermediate (WTI) advanced 2.20% to $94.19 per barrel. Sterling was quoted at $1.3243 early Thursday, slightly lower from $1.3254 at the London equities close on Wednesday. Against the euro, sterling fell to €1.1628 from €1.1636 the prior day.

    Gainers & Losers

    • Top Gainers: JD Sports Fashion rose 2.18% to 75.84p, British American Tobacco advanced 1.91% to 4,278p, Antofagasta gained 1.50% to 3,802p, Glencore rose 1.48% to 560.70p, Bunzl added 1.28% to 2,686p, and BP increased 1.26% to 564.20p.
    • Top Losers: Standard Life fell 3.83% to 890.50p, Computacenter dropped 1.37% to 5,405p, Pershing Square Holdings declined 1.20% to 3,616p, Admiral Group slipped 0.71% to 3,646p, Games Workshop Group fell 0.62% to 17,620p, and AstraZeneca edged 0.40% lower to 12,380p.

    Vistry Shares Slump After Loss and Downsizing Plan

    Vistry shares tumbled after reporting a £661 million pre-tax loss and announcing plans to downsize. The housebuilder fell as much as 7% to 248p in early trade. Adam Vettese, market analyst at eToro, commented, “This morning’s sell-off is the market calling time on another year of moving goalposts. Adam Daniels is doing the unglamorous work of shrinking Vistry to 12,000 homes, exiting South East private sales and cutting a land bank that was too big for the returns it produced. That is the right diagnosis; it does not make the next twelve months any cleaner.”

    On the Beach Posts Record Booking Increase

    On the Beach reported a 9% rise in bookings, bringing total transaction value to £1.3 billion, marking the fifth consecutive year of record highs. The summer booking rebound contributed to growth 4% ahead of the prior year, driven by customers purchasing trips closer to departure dates. Chief executive Shaun Morton attributed the uptick to strategic investments in technology and an expanded product offering. The company estimates pre-tax profit between £28 million and £35 million in the next financial year, but remains mindful of the impact the Iran war is having on consumer confidence.

    Halma Raises Margin Outlook

    Halma lifted its outlook for annual adjusted operating profit margin, citing strong first-half progress. The health and safety device maker now expects an adjusted EBIT margin of 23.5% to 24% for the year through March 2027, up from its previous guidance of around 22.7%. The company maintained its forecast for low double-digit percentage organic constant-currency revenue growth, including roughly five percentage points of premium growth from its photonics business.

    Global Market Overview

    In the US, the S&P 500 dropped 0.75% to close at 7,706.03, while the Nasdaq Composite fell 1.13% to 26,936.04. The Dow Jones Industrial Average was down 352.10 points, or 0.68%. In Asia on Thursday, Tokyo’s Nikkei 225 gained 0.76% to 65,513.99, while China’s Shanghai Composite dipped 1.22%. Hong Kong’s Hang Seng declined 0.29%, and South Korea’s Kospi edged up 0.9%. In India, both the Nifty 50 and the Sensex fell 1.61% and 1.60%, respectively.

    Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.

  • Gold Remains Elevated: MCX Trades at ₹1,51,360, Brent Crude at $102.13

    Gold Remains Elevated: MCX Trades at ₹1,51,360, Brent Crude at $102.13

    Gold prices remained at elevated levels on September 24, 2026. In India, 24-karat gold was quoted at ₹15,421 per gram, while 22K and 18K rates stood at ₹14,136 and ₹11,566, respectively. US gold rates also stayed high, with spot prices above $4,000 per ounce.

    Gold prices held firm on Thursday, September 24, although rates edged slightly lower after a recent rally. Investors are closely monitoring global inflation signals, interest-rate expectations, and developments in energy markets. In India, the latest retail rates show only a marginal increase from the previous session for major gold purities, while international prices remain above the $4,000-per-ounce mark. Rates can vary between jewelers and locations; the figures quoted below are indicative.

    Gold Rate in Indian Market Today

    24-carat gold is priced at ₹15,421 per gram in India on September 24. The rate for 22-carat gold stands at ₹14,136 per gram, while 18-carat gold is available at ₹11,566 per gram. On a 10-gram basis, the corresponding prices are ₹1,54,210 for 24K, ₹1,41,360 for 22K, and ₹1,15,660 for 18K gold. The latest rates represent a marginal increase of ₹1 per gram across the three purities compared with the previous day’s quoted rates.

    MCX gold futures traded lower in early activity. The October contract was around ₹1,51,360 per 10 grams, down 0.89% from the previous close at the time of the latest available update. Retail prices do not include GST, TCS, making charges, and other applicable levies, meaning the final amount paid by consumers can be higher.

    Gold Rate in the USA Today

    In the US, 24K gold is priced at $141.50 per gram, 22K gold at $136.50 per gram, and 18K gold at $111.70 per gram. All three rates were lower than the previous day’s levels. Meanwhile, the international spot market hovered around $4,285–$4,290 per troy ounce in early trading on September 24. The previous day’s close was around $4,283, according to live market data.

    Also Read: Uday Kotak Warns India’s Gold Import Bill May Hit $90 Billion in FY27, Seeks Panel

    Key Takeaways for Gold Buyers

    Gold continues to trade at historically high levels despite short-term fluctuations. In India, 24K gold remains above ₹15,000 per gram, while international spot gold is holding above $4,000 an ounce. For buyers, the quoted retail rates should be treated as a reference rather than the final purchase price. Jewelry bills will also reflect purity, making charges, GST, and other applicable costs. Global movements in the dollar, interest-rate expectations, inflation, and geopolitical developments will remain important factors for gold prices in the coming sessions.

  • Gold Price Update: MCX Gold Holds Steady at Rs. 1,53,171 as Oil Prices Decline, Brent at $101.6

    Gold Price Update: MCX Gold Holds Steady at Rs. 1,53,171 as Oil Prices Decline, Brent at $101.6

    Gold traded flat on MCX on September 22 amid a continued decline in oil prices over the past few sessions, which reduced expectations of further interest-rate hikes by the Federal Reserve. October gold futures rose 0.05% to Rs. 1,53,171 per 10 grams, while September silver futures advanced 0.13% to Rs. 2,39,620.

    Meanwhile, Brent crude futures rose 1.25% to USD 101.6 per barrel. US West Texas Intermediate (WTI) edged higher by 0.96% to USD 93.26 per barrel.

    Domestic Gold Prices

    24K gold rose by Rs. 17 to Rs. 1,54,750 per 10 grams, while 22K gold also advanced by Rs. 15 to Rs. 1,41,850. By city, Mumbai and Kolkata mirrored prices at Rs. 1,54,750, while Delhi was at Rs. 1,54,900 and Chennai at Rs. 1,54,750.

    US Gold Prices

    US gold prices struggled for momentum on Tuesday as expectations of interest rates staying higher for longer weighed on sentiment, with investors awaiting comments from US Federal Reserve officials for policy clues. Spot gold declined 0.08% at USD 4,340.26 per ounce. US gold futures fell 0.18% at USD 4,376.20. Spot silver fell by 0.12% to USD 65.95 per ounce while platinum dipped 0.81% to USD 1,789.83 and palladium declined 0.94% at USD 1,295.78 per ounce.

    Key Levels to Watch

    With US economic data limited this week, investors will focus on comments from Fed officials for signs of whether the central bank is leaning toward another rate increase in October, as well as on crude oil prices, said Chris Weston, head of research at Pepperstone.

    “While crude has come modestly off its recent highs, a reversal higher that builds inflation expectations would only intensify the rates story, and gold would likely continue to face headwinds,” said Weston.

    XAU/USD traded around USD 4,340 on the daily chart, holding just above the medium-term moving averages. The 50-day simple moving average (SMA) at USD 4,300 and the 100-day SMA at USD 4,320 sit below price and suggest underlying trend support, while USD 4,400 acts as immediate resistance. The ongoing test of the rising support trendline around USD 4,340 keeps the broader uptrend intact, and a neutral near-term bias is supported by the Relative Strength Index (RSI) hovering close to the 50 line at 48.5.

    On the topside, immediate resistance emerges at USD 4,400, with a more significant barrier at the 200-day SMA around USD 4,542. On the downside, support clustered around USD 4,340 is the first level to watch; a daily close below it would expose USD 4,320.

  • MCX Gold Holds Steady at Rs.1,52,795 as Oil Prices Decline and Fed Rate Outlook Shifts

    MCX Gold Holds Steady at Rs.1,52,795 as Oil Prices Decline and Fed Rate Outlook Shifts

    Market Overview

    On September 23, MCX gold futures traded slightly higher, with October contracts rising 0.05% to Rs.1,52,795 per 10 grams. This modest gain came as oil prices continued their decline, reducing expectations of further interest-rate hikes by the Federal Reserve. September silver futures also advanced 0.47% to Rs.2,41,025.

    Oil Price Movement

    Brent crude futures fell 1.10% to USD98.16 per barrel, while US West Texas Intermediate (WTI) edged lower by 1.67% to USD89.01 per barrel.

    Domestic Gold Prices

    In India, 24K gold rose by Rs.87 to Rs.1,54,200 per 10 grams, and 22K gold advanced by Rs.80 to Rs.1,41,350. By city, Mumbai and Kolkata both quoted at Rs.1,54,200, Delhi at Rs.1,54,350, and Chennai at Rs.1,54,200.

    US Gold Prices

    US gold prices fell on Tuesday under pressure from hawkish Federal Reserve signals, reinforcing expectations of higher rates for longer. Spot gold declined 0.32% to USD4,344.51 per ounce, while US gold futures rose 0.12% to USD4,381.55. Other precious metals also slipped: spot silver fell 0.49% to USD66.68 per ounce, platinum dipped 0.89% to USD1,819.12, and palladium declined 0.68% at USD1,303.40 per ounce.

    Analst Views and Key Levels

    Standard Chartered highlighted firm demand, while Goldman Sachs retained its end-2027 gold forecast at USD5,400 per ounce, noting that tighter policy may slow the rally rather than derail the longer-term trend. Goldman Sachs warned that three additional rate hikes could push gold toward USD4,070 before recovering toward USD4,200 by end-2026, supported by continued central-bank purchases.

    On the daily chart, XAU/USD trades near USD4,345, hovering between the 50-day and 100-day simple moving averages at USD4,307.31 and USD4,313.57. Immediate upside pressure is around USD4,390, making the near-term bias neutral. Downside support is seen at the short- and medium-term SMAs near USD4,313-USD4,307, ahead of the rising trend-line base near USD3,999. A daily close above USD4,390 would be required for bulls to regain control.

  • Stock Futures Flat as Oil Prices Exceed $100, Fed Rate Hike Fears Intensify

    Stock Futures Flat as Oil Prices Exceed $100, Fed Rate Hike Fears Intensify

    US stock futures remained largely unchanged on Tuesday following a sharp rally on Wall Street Monday, as brent crude surged above $100 per barrel, stoking inflation concerns and reviving expectations of another Federal Reserve interest rate hike. Meanwhile, traders are monitoring Middle East tensions, President Donald Trump’s speech at the United Nations, and Alibaba’s unveiling of a new AI chip.

    Dow Jones Futures Flat

    Dow Jones futures were down by 25 points, or 0.1%, at 3:09 AM ET (7:09 GMT), while futures linked to the S&P 500 and NASDAQ 100 held largely steady. The flat start came after the S&P 500 posted its best performance since August on Monday, driven by gains in technology and artificial intelligence stocks. Meta Platforms advanced on its new AI model, and chipmakers like AMD and Intel rose as investors focused on AI processing technologies. The US 10-year Treasury yield slipped slightly on Tuesday.

    Oil Prices Cross USD 100

    Brent crude futures climbed about 1% to $101.36 a barrel, crossing the $100 threshold as investors worried about supply disruptions from ongoing tensions in the Middle East. The focus also remains on President Trump’s planned address to the United Nations General Assembly in New York, expected to cover international security, conflicts in the Middle East and Ukraine, and AI safety.

    Fed Rate Hike Fears Return

    Federal Reserve rate hike concerns added another layer of uncertainty. St. Louis Federal Reserve President Alberto Musalem said the central bank may need to raise interest rates again as higher energy prices add to inflation pressures. The Fed raised rates by 25 basis points last week, and updated projections from Chair Kevin Warsh hinted at the possibility of another increase before the end of 2026.

    Alibaba Unveils New AI Chip

    At its annual Apsara Conference in Hangzhou, Alibaba unveiled the Zhenwu V900 AI accelerator. CEO Eddie Wu said the chip delivers three times the performance of its predecessor, the Zhenwu M890. Alibaba noted that the V900 can be used in clusters of up to 500,000 chips for training advanced AI models.

  • Oil Prices Slip 1% for Third Day as Saudi Pipeline Repairs Ease Supply Fears

    Oil Prices Slip 1% for Third Day as Saudi Pipeline Repairs Ease Supply Fears

    Brent and WTI Hold Above $100

    Global oil prices slipped about 1% on Friday, September 18, marking a third consecutive session of declines. Brent crude futures fell $1.01 to $103.77 a barrel, while West Texas Intermediate dropped $1.03 to $100.88. Both benchmarks stayed above the $100 level after closing roughly 1% lower on Thursday.

    Saudi Pipeline Disruption and Market Response

    Earlier in the week, prices reached four-month highs after crude loadings at Saudi Arabia’s Yanbu Red Sea export hub were suspended. An attack on Saudi Arabia’s East-West pipeline damaged three pumping stations, according to satellite imagery and industry sources, and prompted Riyadh to cancel some deliveries to Europe.

    Traders warned that a prolonged shutdown could remove as much as 4% of global supply. However, Saudi Arabia is now working to restore about half of the pipeline’s capacity within days and is offering additional crude cargoes to Asian refiners through ship-to-ship transfers off Oman’s Sohar port. US Energy Secretary Chris Wright said crude should begin flowing through the pipeline within days, helping to ease immediate supply fears.

    Geopolitical Risks Remain

    The market largely shrugged off fresh cross-border strikes between Saudi Arabia and Yemen’s Iran-backed Houthis on Thursday. At the same time, Iran’s Revolutionary Guards Navy reported that a Togo-flagged oil tanker was struck while attempting an ‘illegal passage’ through the Strait of Hormuz, adding to uncertainty in an already fragile market.

    Analysts Cautious on Outlook

    JPMorgan said it had no clear baseline view for oil markets for the first time since the start of the US-Israeli war on Iran. Peace talks between the US and Iran have not resumed since an interim agreement collapsed in June. The conflict is expected to be discussed at the UN General Assembly next week, with an Iranian delegation scheduled to attend.

    What to Watch

    Market attention now centers on whether Saudi Arabia can restore disrupted pipeline flows and reroute enough crude to limit the impact of the attack. Any delay in repairs or new escalation in the Middle East could quickly reverse the recent downward move in prices.

  • FTSE 100 Opens 45 Points Lower as Bank of England Holds Rates; Brent Crude Sinks to $102.5

    FTSE 100 Opens 45 Points Lower as Bank of England Holds Rates; Brent Crude Sinks to $102.5

    The FTSE 100 opened 45.03 points lower at 10,771.11 on Friday after the Bank of England kept interest rates unchanged while adopting a more hawkish stance. Investors also weighed the Bank of Japan’s latest rate hike. Meanwhile, Brent crude futures fell 2.05% to USD 102.5 per barrel, and US West Texas Intermediate declined 1.89% to USD 99.98.

    BoE Holds Rates at 3.75%

    The Bank of England’s Monetary Policy Committee voted 6-3 to leave Bank Rate at 3.75%, repeating the split seen in July. Huw Pill, Megan Greene and Catherine Mann again voted for a 25-basis-point increase.

    In a notable move, the BoE paused all gilt sales until April 2027 and removed bonds maturing after 2049 — around GBP 120 billion — from active sales. The Bank is also exploring a mechanism to transfer gilts directly to the UK government treasury, replacing long-dated supply with shorter issuance.

    Sterling and Commodities

    Sterling was quoted at USD 1.3363 early Friday, slightly higher than USD 1.3356 at Thursday’s London close. Against the euro, the pound rose to EUR 1.1638 from EUR 1.1627.

    Gainers and Losers

    Top gainers:

    • Fresnillo: +2.70% at 3,085p
    • IG Group Holdings: +2.21% at 1,344p
    • Endeavour Mining: +2.20% at 4,777p
    • Lion Finance Group: +2.17% at 14,120p
    • Antofagasta: +1.35% at 3,752p
    • Polar Capital Technology Trust: +1.14% at 664.50p

    Top decliners:

    • Coca-Cola HBC: -3.86% at 4,432p
    • Next: -2.51% at 14,545p
    • Coca-Cola Europacific Partners: -1.25% at 7,505p
    • Shell: -1.13% at 3,530.50p
    • London Stock Exchange Group: -0.56% at 8,216p
    • Games Workshop Group: -0.51% at 17,670p

    UK Retail Sales Rebound in August

    Retail sales rose 0.5% in August, reversing a 0.5% decline in July, according to the Office for National Statistics. The increase was driven by warmer weather, which boosted demand for fans and air conditioning units, while the World Cup lifted sales of sports merchandise and clothing. Economists polled by Reuters had forecast a 0.2% drop.

    Investec Raises Earnings Targets

    Investec doubled down on its earnings outlook after strong activity in its South Africa division offset a subdued UK performance. The lender projected earnings per share of 41.7p to 43.3p for the six months to 30 September, representing a 3% to 7% rise year on year. South African wealth funds under management grew 13.8% to GBP 30.7 billion, while the UK business expects operating profit to fall between 2% and 6% from the GBP 230 million recorded last year.

    Global Market Update

    Wall Street rebounded overnight as government bond yields retreated. The S&P 500 gained 1.2%, the Nasdaq Composite rose 1.7%, and the Dow Jones added 0.6%, or 316 points.

    In Asia on Friday, Tokyo’s Nikkei 225 climbed 1.38% to 65,018.95, while China’s Shanghai Composite fell 0.94%. Hong Kong’s Hang Seng advanced 0.56%, and South Korea’s Kospi rose 2.66%. In India, the Nifty 50 and Sensex gained 0.25% and 0.28%, respectively.