Tag: global markets

  • FTSE 100 Rises 44 Points on US-Iran Peace Optimism; BP and HSBC Post Strong Earnings

    FTSE 100 Rises 44 Points on US-Iran Peace Optimism; BP and HSBC Post Strong Earnings

    The FTSE 100 opened 40.58 points higher at 10,898.28 on Tuesday, buoyed by renewed hopes of a diplomatic resolution between the United States and Iran. The positive sentiment was further supported by robust corporate earnings from BP and HSBC, along with a flurry of other company updates.

    Market Movers

    Brent crude futures climbed 1.46% to $84.99 per barrel, while US West Texas Intermediate (WTI) rose 0.70% to $80.90. Sterling edged lower against the dollar, slipping to $1.3423 from $1.3425, and fell to €1.1664 against the euro from €1.1669.

    Top Gainers

    Antofagasta led the risers, surging 3.10% to 3,793p. Babcock International Group and BAE Systems both advanced 2.66%, reaching 1,177p and 2,200p respectively. Anglo American gained 2.54% to 3,799p, Rio Tinto added 2.30% to 7,252p, and Endeavour Mining rose 2.22% to 3,595p.

    Biggest Losers

    On the downside, Smith & Nephew plunged 5.76% to 1,128p. Coca-Cola Europacific Partners fell 4.16% to 7,725p, and Admiral Group declined 2.00% to 3,726p. Next slipped 1.24% to 14,715p, Coca-Cola HBC eased 0.94% to 4,838p, and Games Workshop Group edged 0.57% lower to 19,120p.

    BP Doubles Profit

    BP reported a sharp increase in second-quarter earnings, with underlying replacement cost profit surging to $5.7 billion from $2.4 billion a year earlier and $3.2 billion in the first quarter. Higher oil and gas prices and stronger refining margins offset lower production. Reported profit attributable to shareholders rose to $3.9 billion from $1.6 billion. Operating cash flow jumped 73% year-on-year to $10.9 billion, and net debt was reduced to $22.3 billion from $25.3 billion at the end of March.

    HSBC Beats Forecasts

    HSBC announced a fresh $1 billion share buyback after first-half profit rose 23% to $19.5 billion, beating analyst expectations. Second-quarter profit jumped 60% to $10.1 billion, surpassing the consensus estimate of $9.51 billion. The result was flattered by a $2.1 billion charge related to Bank of Communications taken a year earlier.

    Travis Perkins Cuts Dividend

    Travis Perkins reduced its dividend from 4.5p to 4p after warning of a slump in construction activity and price uncertainty. The company reported a 1.8% drop in first-half revenue to £2.3 billion. Shares have fallen 10% since the start of the year.

    Global Market Overview

    In the US, the Dow Jones rose 1.3%, the S&P 500 climbed 1.5%, and the Nasdaq jumped 2.1%, supported by lower oil prices, stronger manufacturing data, and easing concerns about a hawkish Federal Reserve. In Asia, Tokyo’s Nikkei 225 rose 0.32% to 63,957.53, China’s Shanghai Composite gained 0.33%, while Hong Kong’s Hang Seng declined 0.77%. South Korea’s Kospi edged higher by 1.62%. In India, both the Nifty 50 and the Sensex fell by 1.18% and 0.39%, respectively.

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

  • FTSE 100 Hits 10,670 as Retail Sales Surge and HSBC Sells Insurance Unit for $2.1B

    FTSE 100 Hits 10,670 as Retail Sales Surge and HSBC Sells Insurance Unit for $2.1B

    The FTSE 100 opened 31 points higher at 10,670 on Friday, buoyed by a strong retail sales report and a major corporate deal, even as Middle East tensions, rising oil prices, and new US tariff risks weighed on broader market sentiment.

    Oil prices continued to climb, with Brent crude futures falling 2.22% to $98.45 per barrel and US West Texas Intermediate (WTI) declining 2.21% to $90.15 per barrel. Sterling strengthened to $1.3315 early Friday from $1.3303 at Thursday’s London close, while against the euro, the pound edged down to €1.1693.

    Gainers & Losers

    On the upside, 3i Group rose 3.33% to 2,763p, RELX advanced 3.31% to 2,532p, and JD Sports Fashion gained 3.12% to 88.46p. Weir Group climbed 2.67% to 2,612p, Pershing Square Holdings added 2.58% to 3,736p, and Sage Group increased 2.56% to 842p.

    On the downside, Airtel Africa declined 5.32% to 327.20p. Shell fell 0.76% to 3,318.50p, while AstraZeneca slipped 0.69% to 12,600p. GSK dropped 0.50% to 1,896p, Endeavour Mining eased 0.45% to 3,548p, and Rio Tinto edged 0.37% lower to 6,831p.

    US Tariffs

    The US announced new tariffs on 60 trading partners over forced labor concerns, replacing an expiring global duty introduced earlier this year. The levies, effective Friday, range from 10% to 12.5%. Canada, the EU, and the UK are expected to face the lower 10% rate, while China and Japan are among those facing the higher 12.5% rate.

    Retail Sales Jump

    Retail sales jumped in June as heavy discounting drove online shopping. The volume of retail sales rose by 1% in June, following 1.2% growth in May, according to the Office for National Statistics (ONS). Online shopping grew to its largest proportion of total retail sales since spring 2021, when the COVID-19 pandemic kept consumers away from high streets.

    Hannah Finselbach, senior statistician at the ONS, said: “Internet retailers did especially well, with businesses telling us that this was because of promotions and the warm weather.”

    HSBC Sells Insurance Business

    HSBC has agreed to sell its life and health insurance business in Singapore to Allianz for $2.1 billion (£1.6 billion). Completion is anticipated in the first half of 2027. The deal is expected to generate HSBC a pre-tax gain of $1.8 billion. The transaction follows an internal review, with HSBC determining that a sale would be the “best outcome for both parties” as the bank focuses on areas where it has a “clear competitive advantage”.

    Global Market View

    In the US, stocks fell overnight: the Nasdaq declined 2.2%, the S&P 500 dropped 1.2% (its worst session of the month), and the Dow shed 1%. In Asia on Friday, Tokyo’s Nikkei 225 fell 2.73% to 64,611.15, while China’s Shanghai Composite dipped 1.61%. Hong Kong’s Hang Seng declined 1.04%, and South Korea’s Kospi fell 5.72%. In India, both the Nifty 50 and the Sensex fell by 0.31% and 0.44%, respectively.

    Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. This article is for informational purposes only and does not constitute investment advice. Always conduct your own research before making any investments.

  • FTSE 100 Rises Above 10,598 Despite UK Inflation Data; Brent Crude Jumps to $94.22

    FTSE 100 Rises Above 10,598 Despite UK Inflation Data; Brent Crude Jumps to $94.22

    The FTSE 100 traded 12.33 points higher at 10,598.24 on Wednesday, defying cooler-than-expected UK inflation data that boosted the likelihood of near-term Bank of England rate cuts. Investors weighed rising oil prices and ongoing US-Iran tensions, with Brent crude futures surging 3.53% to $94.22 per barrel and US West Texas Intermediate (WTI) gaining 3.53% to $87.32 per barrel.

    Gainers and Losers

    Top gainers:

    • Endeavour Mining: +2.34% to £36.37
    • Fresnillo: +1.29% to £25.99
    • Shell: +1.15% to £32.92
    • Admiral Group: +1.13% to £35.78
    • Reckitt Benckiser: +0.75% to £49.75
    • AstraZeneca: +0.45% to £125.48

    Top decliners:

    • Games Workshop Group: -2.43% to £196.50
    • London Stock Exchange Group: -1.86% to £84.40
    • Halma: -1.72% to £35.54
    • Experian: -1.52% to £26.59
    • Next: -1.51% to £147.25
    • Pershing Square Holdings: -0.95% to £37.54

    Mulberry Narrows Losses

    Mulberry reported a sharp reduction in annual losses and a return to revenue growth, with trading accelerating into the new financial year. Pre-tax losses narrowed to £8.9 million from £32.2 million, as revenues grew 4% to £125.5 million. Growth accelerated to 11% in the second half. The company swung to positive EBITDA of £0.8 million, compared with a £16.8 million loss a year earlier.

    Bloomsbury Expects Cash from Anthropic Settlement

    Bloomsbury, the publisher of Harry Potter, expects a significant payout from the $1.5 billion settlement paid by Anthropic following a copyright dispute. The firm will receive $3,000 for each of its 14,087 books included in the claim, putting it in line to take as much as $42 million (£32 million). Settlement payments will begin in the second half of this financial year. Bloomsbury shares jumped 1.5% to £652 at Wednesday’s market open.

    Fresnillo’s Gold Production Declines

    Fresnillo reported a decline in gold production in the first half of the year, despite an increase in the second quarter. The miner saw a 7.3% fall in production in the six months to end of June, while second-quarter volumes were up 13.8% compared to the first quarter. The firm stated it will continue to focus on efficiency, cost control, and consistent volume performance. Fresnillo shares have fallen by almost a quarter since the start of the year.

    Global Market Overview

    In the US, stocks closed sharply higher, with semiconductor stocks leading the Nasdaq to a 1.3% gain to 25,837. The S&P 500 rose 0.9% to 7,509, and the Dow Jones added 0.7%. In Asia on Wednesday, Tokyo’s Nikkei 225 fell 0.18% to 66,115.6, while China’s Shanghai Composite advanced 0.07%. Hong Kong’s Hang Seng fell 1.13%, and South Korea’s Kospi gained 0.74%. In India, both the Nifty 50 and the Sensex fell by 0.84% and 0.97%, respectively.

  • London Stock Exchange to Launch Overnight Trading Platform LSE 24 in 2027

    London Stock Exchange to Launch Overnight Trading Platform LSE 24 in 2027

    The London Stock Exchange (LSE) has announced plans to launch a new overnight trading platform called LSE 24 in the first half of 2027. The initiative aims to provide global investors with extended access to exchange-traded products (ETPs), offering greater flexibility and enhanced liquidity across different time zones.

    LSE 24 will operate as a separate trading venue, with sessions running from 5:00 PM to 7:50 AM GMT, including a 30-minute intermission at 6:30 PM and 7:00 PM for end-of-day processing. The main exchange will continue its regular trading hours from 8:00 AM to 4:30 PM. Initially, the platform will focus on ETPs that track UK and US equity indices, with potential expansion to other asset classes in the future.

    The move comes as global exchanges increasingly extend their trading hours to meet investor demand for round-the-clock access to financial markets. Nasdaq is planning to expand trading to 23 hours on weekdays, while CME already offers 24-hour trading for cryptocurrency futures and options. LSE’s decision reflects a broader trend toward continuous market access, particularly driven by retail investors from Asia who seek the same flexibility as cryptocurrency markets provide.

    By enabling trading outside regular hours, LSE 24 allows investors to respond to overnight news and events, manage risk more effectively, and participate in global markets regardless of their time zone. The exchange expects the platform to strengthen its competitive position and attract a wider range of international participants.

  • FTSE 100 Drops 65 Points as Middle East Tensions and Weak China GDP Sour Investor Mood

    FTSE 100 Drops 65 Points as Middle East Tensions and Weak China GDP Sour Investor Mood

    The FTSE 100 opened 65 points lower at 10,464 on Wednesday, driven by escalating tensions between the United States and Iran that pushed oil prices higher, while disappointing Chinese economic growth data added to investor caution.

    Brent crude futures rose 1.64% to $86.12 a barrel, and US West Texas Intermediate (WTI) advanced 1.66% to $80.66 a barrel. Sterling strengthened slightly, quoted at $1.3405 early Wednesday, up from $1.3396 at the previous London close.

    Gainers & Losers

    Top Gainers

    • Barratt Redrow +3.06% to £286.70
    • ICG +2.24% to £1,830
    • Burberry Group +1.64% to £1,086.50
    • Smith & Nephew +1.21% to £1,127.50
    • Persimmon +1.14% to £1,064.50
    • Polar Capital Technology Trust +0.82% to £675

    Top Losers

    • Fresnillo -3.39% to £2,507
    • Antofagasta -2.91% to £3,731
    • Endeavour Mining -2.58% to £3,510
    • Lion Finance Group -1.40% to £11,290
    • Coca-Cola Europacific Partners -1.20% to £7,820
    • Games Workshop Group -0.59% to £20,220

    China’s Economic Slowdown

    China’s economy grew 4.3% year-on-year in the second quarter, its weakest pace since the fourth quarter of 2022, according to the National Bureau of Statistics. The reading missed the Reuters poll forecast of 4.5% and slowed from 5% growth in the first quarter, falling below Beijing’s full-year target range of 4.5% to 5%.

    B&M First Quarter Sales Rise

    B&M European Value Retail reported first-quarter sales growth of 2%, with revenue climbing to £1.43 billion in the 13 weeks to 27 June. Revenue at B&M UK increased 0.3% to £1.14 billion, though like-for-like sales fell 2.3%.

    Antofagasta Under Pressure from Rising Costs

    Antofagasta faced headwinds from falling production and rising operational costs. Year-to-date copper production declined 9.5% to 285,000 tonnes, while maintenance at Los Pelambres cut molybdenum output by 18% to 6,100 tonnes. Gold production increased 1.8% to 92,800 ounces, but raw production costs surged 22.8% to $2.8 per pound.

    Barratt Redrow Bets on Buybacks

    Barratt Redrow committed to returning £400 million to shareholders, citing that buybacks offer better value than larger cash dividends. The group completed 17,667 home sales in the year to 28 June, at the top end of its guidance and up from 16,826 a year earlier. Net cash stood at £772 million, well above the guided range of £550-£650 million.

    Global Market Overview

    In the US, the Nasdaq climbed 0.9% on semiconductor strength, while the S&P 500 added 0.4% and the Dow Jones edged up just 10 points. In Asia, Tokyo’s Nikkei 225 rose 1.49% to 68,751.51, China’s Shanghai Composite fell 0.29%, Hong Kong’s Hang Seng climbed 1.24%, and South Korea’s Kospi advanced 6.24%. In India, the Nifty 50 dipped 0.02% and the Sensex rose 0.04%.

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

  • FTSE 100 Drops 68 Points as Middle East Tensions Boost Oil Prices and Energy Stocks

    FTSE 100 Drops 68 Points as Middle East Tensions Boost Oil Prices and Energy Stocks

    The FTSE 100 opened 68.09 points lower at 10,430.20 on Monday, as escalating tensions in the Middle East—triggered by US strikes on Iran—pushed oil prices sharply higher and dampened risk appetite across European markets. Brent crude futures rose 3.54% to $86.25 a barrel, while US West Texas Intermediate (WTI) advanced 3.19% to $80.63 a barrel.

    Sterling was quoted at $1.3366 early Monday, lower than $1.3378 at the London equities close on Friday. Against the euro, sterling fell to €1.1727 from €1.1733 a day prior.

    Gainers & Losers

    On the upside, BP rose 2.99% to £520.10, while Vodafone Group advanced 1.72% to £118.15. Centrica gained 1.71% to £175.45, and Shell climbed 1.58% to £3,158. Glencore added 1.46% to £522, and Rio Tinto climbed 1.46% to £6,831.

    On the downside, Games Workshop Group declined 1.09% to £20,000, while AstraZeneca slipped 1.33% to £12,442. Next fell 1.12% to £14,595, and London Stock Exchange Group edged lower by 1.73% to £8,854. Lion Finance Group dropped 1.13% to £11,420, while 3i Group eased 3.09% to £2,603.

    Debenhams Owner Could Sell Brands

    Debenhams Group has said it could sell off some of its brands to eliminate its £90 million debt. The group, which owns Debenhams, Boohoo and Pretty Little Thing, said on Tuesday it plans to slash its debt, which stood at £93 million in its recent financial year, to below the level of its pre-tax earnings. “With strategic brand licensing opportunities and potential business disposals, there is the opportunity to eliminate the debt,” the firm said. Debenhams Group saw “positive” trading in June and July, it said, as it capitalised on the hot summer weather.

    BP’s Oil Production Declines

    BP’s oil production declined as upstream production of oil and gas is set to come in at as low as 2,170 thousand barrels equivalent in the second quarter of the year, a fall of 7.3% compared to the first quarter. However, BP has been fueled by soaring oil prices, which averaged $103.85 per barrel in the second quarter, a jump of 28% compared to the first quarter. Brent crude prices slid back to $72 per barrel at the start of the month on renewed hopes of an end to the Middle Eastern Conflict, but since then has climbed to a four-week high above $80.

    Retail Sales Growth Softens

    UK retail sales grew 1.9% year-on-year in June, down from a 3.7% gain in May, according to the BRC-KPMG Retail Sales Monitor. Like-for-like sales rose 1.7%, down from 3.4% in May, and below the consensus forecast of 2.7%. Food sales increased 2.8%, below the 12-month average growth of 3.4%, while non-food sales were up 1.2%, above the 12-month average growth of 0.6%. KPMG’s Linda Ellett says, “As the summer holiday season gets set to fully begin, retailers will be looking to build on the increase in clothing sales for both adults and children that was seen during June.”

    Global Market View

    In the US, Wall Street began the week on a weaker note, with the tech-heavy Nasdaq leading the decline, tumbling 1.6%, while the S&P 500 dropped 0.8% and the Dow Jones fell 0.3%. In Asia on Tuesday, Tokyo’s Nikkei 225 rose 0.74% to 67,743.5, while China’s Shanghai Composite gained 1.36%. Hong Kong’s Hang Seng climbed 0.50%, and South Korea’s Kospi advanced 0.72%. In India, Nifty 50 and Sensex declined by 0.5% and 0.52%, respectively.

    Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments.

  • Indian Stock Market Update: Nifty 50 Holds Above 24,000, Sensex Targets 77,800 as Global Volatility Persists

    Indian Stock Market Update: Nifty 50 Holds Above 24,000, Sensex Targets 77,800 as Global Volatility Persists

    The Indian stock markets are expected to open lower amid weak global cues, as the ongoing US-Iran conflict continues to weigh on risk sentiment. GIFT Nifty also indicates a gap-down start, trading at 24,056 with a discount of 187 points from its previous Nifty futures close.

    On Monday, the Sensex gained 47.01 points or 0.06% to settle at 77,616.40, while the Nifty 50 rose 4.10 points or 0.02% to finish at 24,211. The broader markets, Nifty Midcap 100 and Nifty Smallcap 100, ended on a flat note. The Indian rupee opened 32 paise lower at Rs. 95.94 per dollar on Tuesday against Monday’s close of Rs. 95.62.

    Sensex Outlook

    Technically, the Sensex formed a bullish candle on the daily chart and recovered its morning losses.

    “The 77,000 would act as a key support zone for short-term traders. As long as the market trades above this level, the uptrend wave is likely to continue. On the higher side, 77,800 would act as an immediate resistance for day traders. If the market successfully breaks that level, the rally could continue till 78,000-78,500. On the flip side, below 77,000, the uptrend would become vulnerable. Below this level, traders may prefer to exit their long positions,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

    Nifty 50 Outlook

    Nifty 50 formed a small bullish candle on the daily chart, reflecting continued buying interest at lower levels.

    With weekly expiry today, traders should be prepared for heightened volatility and sharp intraday swings as derivatives positions are adjusted throughout the session. Right now, 24,000 is the ultimate floor. Slipping below this point will likely trigger a deeper slide and ruin the near-term chart setup. On the flip side, any bounce faces a heavy ceiling in the 24,200 to 24,300 zone. Because global headlines are running the show, upcoming expiry-day hedging could easily whip up extra wild price swings. Traders should avoid aggressive positions at the open and focus on disciplined, level-based execution. Expect volatility to remain elevated throughout the day, especially around key support and resistance levels.

    Bank Nifty Outlook

    On Monday, Bank Nifty rose 5.55 points or 0.15% to close at 58,131.45, forming a bullish candle on the daily chart, indicating buying interest at lower levels.

    It has been consolidating within the 56,500-58,500 range over the last four weeks, indicating a healthy pause after the previous up move. On the upside, 58,700 remains the immediate hurdle, said Bajaj Broking Research. “Failure to move above 58,700 will signal extension of last 4 weeks consolidation. On the downside, 57,400-57,500 is expected to act as the immediate support, coinciding with Thursday’s gap-up zone and Monday’s low. The major support is placed at 56,500, where the 20-week and 50-week EMAs converge along with the previous week’s low, making it a strong demand zone,” the brokerage added.

    Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments.

  • FTSE 100 Opens Lower as Middle East Tensions Drive Brent Crude Up 3.72%

    FTSE 100 Opens Lower as Middle East Tensions Drive Brent Crude Up 3.72%

    The FTSE 100 opened 10 points lower at 10,486.74 on Monday, as renewed escalation in the Middle East pushed oil prices sharply higher. Energy-heavy blue-chip stocks helped offset a broader risk-off mood across the market.

    Brent crude futures surged 3.72% to $78.90 a barrel, while US West Texas Intermediate (WTI) advanced 3.74% to $74.08 a barrel. Sterling weakened to $1.3380, down from $1.3419 at the London close on Friday, and fell against the euro to €1.1730 from €1.1737.

    Gainers and Losers

    Top Gainers:

    • Persimmon: +3.52% to £1,073.50
    • Vodafone Group: +3.13% to £113.55
    • Shell: +1.38% to £3,080.50
    • BP: +2.59% to £495.15
    • Computacenter: +1.93% to £4,540
    • BT Group: +1.55% to £193

    Notable Losers:

    • AstraZeneca: -1.26% to £12,672
    • Spirax Group: -1.53% to £6,455
    • Endeavour Mining: -1.80% to £3,610
    • Diploma: -0.96% to £6,735
    • Halma: -1.70% to £3,578
    • Antofagasta: -1.43% to £3,724

    Corporate Updates

    ME Group Reaffirms Profit Guidance

    ME Group has expanded into user-operated dog washing machines to recover from the revenue hit caused by the Iran war. The firm installed 200 machines across the UK, France, and the Republic of Ireland, noting they are proving popular. Revenue slipped 1% to £152 million on a constant currency basis in the six months to end of April, while pre-tax profit fell 6% to £32 million.

    PageGroup Profit Declines 5.4%

    Recruiter PageGroup reported a 5.4% drop in second-quarter profit to £21.8 million, an improvement from the 11.4% decline in the prior quarter. Temporary recruitment rose 1%, outperforming permanent recruitment, which fell 8%. Group profit remained flat at £197.6 million, with about half of operating markets seeing growth, particularly southern Europe.

    Plus500 Half-Year Revenue Jumps 12%

    Plus500 reported its highest half-year revenue in three years at $462.9 million, up 12% year-over-year. Customer income rose 24% to a five-year record of $460.8 million. Underlying EBITDA edged up 1% to $187.5 million, though the margin slipped to 41% from 45% due to increased spending on customer acquisition and US investment.

    Global Market Overview

    US futures pointed lower, with the Nasdaq expected to fall 1.3%, while the Dow Jones and S&P 500 were seen dropping 0.35% and 0.55%, respectively. In Asia, Tokyo’s Nikkei 225 fell 1.92% to 67,242.73, China’s Shanghai Composite dropped 2.06%, and Hong Kong’s Hang Seng edged up 0.064%. Australia’s S&P/ASX 200 rose 0.03%. In India, the Nifty 50 and Sensex advanced 0.14% and 0.11%, respectively.

  • FTSE 100 Climbs 30 Points on US-Iran Diplomatic Hopes and Falling Oil Prices; Vodafone Surges 10.32%

    FTSE 100 Climbs 30 Points on US-Iran Diplomatic Hopes and Falling Oil Prices; Vodafone Surges 10.32%

    The FTSE 100 opened 30 points higher at 10,503 on Friday, buoyed by growing diplomatic optimism between the US and Iran that eased investor concerns over the Middle East conflict. The positive sentiment was further supported by a decline in oil prices, with Brent crude futures falling 0.83% to $75.71 a barrel and US West Texas Intermediate (WTI) dropping 0.74% to $71.55 a barrel.

    Sterling strengthened against both the dollar and the euro, trading at $1.3424 early Friday compared to $1.3397 at the London equities close on Thursday, and rising to €1.1736 from €1.1717 a day earlier.

    Gainers & Losers

    Top Gainers: Vodafone Group led the rally, soaring 10.32% to £107.85, after UAE telecom operator e& Group agreed to sell its entire 16.3% stake in Vodafone for $5.95 billion to an investment vehicle controlled by Xavier Niel’s family at a 13% premium to Vodafone’s last close. BT Group advanced 1.60% to £190, International Consolidated Airlines Group gained 1.52% to £473.40, Rio Tinto moved higher by 1.35% to £6,765, Airtel Africa added 1.31% to £325.80, and British Land climbed 1.29% to £424.60.

    Top Losers: On the downside, AstraZeneca declined 1.29% to £13,182, St. James’s Place slipped 6.81% to £1,177.50, Next fell 0.38% to £14,480, Admiral Group moved lower by 1.09% to £3,634, Coca-Cola HBC dropped 0.70% to £4,858, and Lion Finance Group eased 0.26% to £11,510.

    Political Developments

    In political news, Andy Burnham moved closer to becoming Prime Minister after hundreds of Labour MPs formally nominated him to succeed Keir Starmer as party leader. Burnham appeared on course to become Labour leader unopposed after the party said 322 of its 403 MPs backed his candidacy on the first day of nominations. The process closes on July 16, with Burnham set to be confirmed as Labour leader the following day if no challenger emerges.

    Mergers & Acquisitions

    Apollo has agreed to buy EasyJet in a deal valued at £5.7 billion, usurping an earlier bid from asset manager Castlelake. EasyJet said it had accepted an all-cash offer from the US investment giant valuing the airline at £714 a share, an 80% premium on the airline’s closing share price. The carrier stated that Apollo’s bid “delivers a superior outcome for EasyJet shareholders.”

    Corporate News

    Vodafone shares jumped after e& Group agreed to sell its entire 16.3% stake in Vodafone for $5.95 billion to Vega, an investment vehicle controlled by the family of French telecommunications entrepreneur Xavier Niel, at 112.5 pence per share—a 13% premium to Vodafone’s last close.

    Hays reported that it expects profit for the 2026 financial year to come in at the higher end of market estimates after cost cuts offset another quarter of weak recruitment activity. The recruiter said like-for-like net fees fell 5% in the three months to June 30, with temporary and contracting fees falling 3% and permanent fees dropping 7% as hiring declined through the quarter.

    Global Market View

    In the US, the tech-heavy Nasdaq climbed 1.3%, the S&P 500 added 0.8%, and the Dow Jones inched up 0.3%. In Asia, Tokyo’s Nikkei 225 rose 1.2% to 68,557.73, while China’s Shanghai Composite fell 1%. Hong Kong’s Hang Seng climbed 0.65%, and Australia’s S&P/ASX 200 rose 0.5%. In India, Nifty 50 and Sensex declined by 0.92% and 0.98%, respectively.

    Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. You are responsible for conducting your own research before making any investments.

  • FTSE 100 Opens Higher at 10,679.5 as Shell Surges and Oil Prices Recover

    FTSE 100 Opens Higher at 10,679.5 as Shell Surges and Oil Prices Recover

    The FTSE 100 opened 28 points higher at 10,679.5 on Tuesday, buoyed by strength in energy stocks and positive domestic house price data. NATO leaders gathered in Ankara for a two-day summit, while Brent crude futures rose 1.33% to $72.95 a barrel and US West Texas Intermediate (WTI) gained 1.33% to $69.46.

    Sterling strengthened against both the dollar and the euro, trading at $1.3384 and €1.1707 respectively.

    Gainers and Losers

    Shell led the upside, rising 2.76% to £2,993, followed by Burberry Group (+2.24%), Unilever (+2.21%), Rentokil Initial (+2.05%), London Stock Exchange Group (+1.90%), and RELX (+1.88%). On the downside, Rio Tinto fell 2.02%, Antofagasta slipped 2.28%, Anglo American dropped 2.22%, Fresnillo declined 2.21%, Endeavour Mining lost 1.52%, and Diploma eased 0.78%.

    Shell Expects Up to $6 Billion Cash Boost

    Energy giant Shell is set to reverse a heavy $11.2 billion cash drain from the first quarter, expecting a cash inflow of between $1 billion and $6 billion in Q2. The turnaround follows a sharp swing in energy markets, driven by the US-Iran war which pushed Brent crude above $110 a barrel and caused major shipping disruptions in the Strait of Hormuz. Shell’s commodity trading division performed “significantly higher” than in Q1, while its refining margin surged to around $20 per barrel, up from $17, prompting the firm to run its refineries at virtually full capacity.

    Keller Upgrades Profit Forecast

    Engineering firm Keller upgraded its profit and revenue outlook after a surge in demand for data centres. The company said revenue and operating profit would be “materially ahead” of market estimates of £3.2 billion and £223 million respectively. CEO James Wroath attributed the strength to North American operations, which account for about 60% of group revenue, supported by increased activity in infrastructure and data centres.

    UK House Prices Recover

    House prices in the UK rose for the first time in four months in June. The Lloyds House Price Index posted a 0.2% monthly gain, taking the average property price to £299,330 from £298,812 in May. Annual growth edged up to 0.6% from 0.5%. Northern Ireland led with 7.4% annual growth, while London fell 1.1% year-on-year to £534,831. “Mortgage rates have eased from their recent highs, offering some encouragement to those considering a move,” said Amanda Bryden, Head of Mortgages at Lloyds.

    Global Market Overview

    In the US, the Nasdaq led gains with a 1.15% increase, the Dow Jones closed above 53,000 for the first time at 53,055 (+0.3%), and the S&P 500 added 0.7%. In Asia, Japan’s Nikkei 225 fell 2.2%, China’s Shanghai Composite dropped 1.26%, Hong Kong’s Hang Seng declined 0.67%, and Australia’s S&P/ASX 200 slipped 0.31%. India’s Nifty 50 and Sensex rose 0.17% and 0.13% respectively.

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