- FTSE 100 adds 46 points to trade near 10,862
- Wall Street mixed at open
- Airtel Africa and Weir Group lead blue-chip risers
- IAG, InterContinental Hotels and industrial miners advance
- Healthcare, technology trusts and BP weigh
- FTSE 250 edges into negative territory
4:00 pm: FTSE holds steady gains as quiet August afternoon draws toward close
London's blue-chip benchmark was printed 46 points higher, at 10,862 with just over a half hour of trading left in what has frankly been a gentle start to the last full trading week for August.
With Nvidia's results coming later in the week, and the market's off-peak season coming to a close sooner, its safe to say we'll be seeing more action in the near future.
3:20 pm: Mixed bag after Wall Street open
Wall Street opened the week mixed, with the Dow up 0.2% at 53,382 while technology stocks dragged on the broader market. The S&P 500 fell 0.4% to 7,643 and the Nasdaq dropped 1% to 25,926 as investors weighed geopolitical developments, major tech earnings and fresh economic signals.
Oil prices eased ahead of further detail on an expected US sanctions announcement, with Brent and WTI down roughly 1.5% to 2% at around $91 and $85 a barrel respectively. The 10-year Treasury yield also edged lower to about 4.71%, offering some relief after last week’s sharp rise in longer-dated yields.
Alibaba was among the notable tech fallers after pricing a HK$80 billion, or US$10.2 billion, equity placement to fund further investment in artificial intelligence. The shares were down about 1.4% after the open, with investors otherwise largely in a holding pattern ahead of the week’s bigger market catalysts.
1:20 pm: Wall Street set for soft start
Wall Street was set for a softer start to the week after US-Canada trade talks broke down over the weekend, with Dow futures down 0.1%, S&P 500 futures off 0.2% and Nasdaq futures falling 0.6%. Washington imposed new tariffs on Canadian goods, prompting Prime Minister Mark Carney to suspend negotiations and pledge like-for-like retaliation.
Attention now turns to the Federal Reserve’s Jackson Hole gathering, with bond yields and the interest-rate outlook firmly in focus. Swissquote senior analyst Ipek Ozkardeskaya cautioned that “US yields won’t magically fall” while government debt grows and Middle East tensions keep energy prices elevated. Treasury Secretary Scott Bessent is also expected to outline a fiscal consolidation plan this week.
Nvidia headlines a busy earnings calendar, with options markets pricing a roughly 4% move in either direction following its results. Salesforce, CrowdStrike, Intuit and Workday are also due to report, leaving technology stocks at the centre of a week shaped by trade tensions, bond-market nerves and Fed policy signals.
12.30 pm: Miners and travel shares keep FTSE 100 higher
The FTSE 100 remained modestly higher around midday trade, adding 13 points, or 0.1%, to 10,830 after reaching a session high of 10,846.
Market breadth was positive, with 63% of blue-chip constituents trading higher at noon.
Airtel Africa led the index with a 2.6% rise, followed by Weir Group at 2.1%. Anglo American gained 1.8% and Antofagasta advanced 1.6% as copper prices strengthened.
Travel shares also performed well. InterContinental Hotels and International Airlines Group both climbed approximately 1.8%, while Whitbread gained 1.2%.
The advance extended across several sectors, with Halma, WPP, Diageo, Diploma and Rolls-Royce all rising by more than 1%.
Fresnillo headed the fallers with a 1.9% decline despite gold remaining higher. Rightmove and Polar Capital Technology Trust lost 1.5%, while AstraZeneca, Auto Trader, GSK and BP fell by more than 1%.
The FTSE 250 slipped 0.1% to 24,703. ME Group led the mid-cap risers, while Kainos and Hochschild Mining were among the largest fallers. The FTSE Small Cap was flat and the AIM All-Share added 0.1%.
11.30 am: Oil pares losses as Iran threatens ships; BP and Harbour fall
Oil prices recovered from their morning lows as tensions around the Strait of Hormuz intensified, although both major benchmarks remained lower for the session.
Front-month Brent traded around $93.10 a barrel, down 1.4% from Friday’s $94.39 settlement but above its $92.05 intraday low. West Texas Intermediate was 2.3% lower at approximately $85.10 after touching $84.69.
The recovery followed reports that Iran had threatened 46 ships with fines, detention or confiscation for allegedly breaching its new navigation rules. The vessels include ships operated by Abu Dhabi’s Adnoc and South Korea’s Sinokor.
Washington is due to unveil further sanctions against Iran at 6pm BST, potentially targeting countries and companies that continue trading with Tehran. Iran has threatened to halt Gulf oil exports if other countries support the US campaign.
FTSE oil and gas shares showed a mixed response:
- BP fell 1% to 543.9p from Friday’s 549.5p close.
- Harbour Energy dropped 1.5% to 258.2p from 262p.
- Shell eased 0.3% to 3,401p from 3,409.5p.
- Ithaca Energy was broadly unchanged at 273.2p, against 273p previously.
10.15 am: Mining and industrial shares lift London
The FTSE 100 strengthened by 22 points, or 0.2%, to 10,838 as gains among miners, financial companies and industrial stocks outweighed weakness in energy and pharmaceuticals.
Endeavour Mining climbed 5.3%, while Antofagasta gained 2%, Anglo American advanced 1.5% and Rio Tinto added 0.4%. Fresnillo bucked the trend, falling 1.6%.
Industrial stocks were also firm, led by Halma, Weir, Diploma and Rolls-Royce, which gained between 1.3% and 1.7%.
Banks and insurers added support. Standard Chartered rose 1%, Aviva and Hiscox gained around 1.1%, while Barclays, Lloyds and NatWest advanced approximately 0.6%.
Lower oil prices weighed on BP and Shell, down 1.2% and 0.3%, respectively. AstraZeneca fell 0.8% and GSK lost 0.5%.
The broader London market was marginally positive. The FTSE 250 added 0.06% to 24,734, the FTSE SmallCap was flat at 8,202 and the AIM All-Share rose 0.09% to 812.71.
9.20: Miners rise but broader London market remains subdued
The FTSE 100 remained virtually flat after its opening hour, declining around 4 points, or 0.04%, to 10,813.
The subdued tone extended across the main London indices. The FTSE 250 fell 0.12% to 24,689, while the FTSE 350 and FTSE All-Share both declined 0.05%. The AIM All-Share edged 0.05% higher.
Airtel Africa led the blue-chip risers with a 2.3% gain. Copper miners were also stronger, with Antofagasta up 1.5% and Anglo American gaining 1.2%. Diageo rose 1.4% and 3i Group added 1.1%.
Kingfisher headed the fallers, declining 1.1%. Auto Trader, BAE Systems, AstraZeneca and Melrose Industries were all approximately 1% lower.
On AIM, Tracsis (AIM:TRCS) jumped 7% to 342.5p after reporting full-year trading in line with expectations and completing its £48 million acquisition of FirstGroup’s Mistral Data business. FirstGroup recovered after falling around 7% during the opening exchanges.
Spot gold remained 0.8% higher at approximately US$4,640 an ounce, while copper futures were broadly unchanged at US$6.59 per pound. Bitcoin traded near US$77,300, down 0.6%.
Oil remained lower as investors awaited details of the new US sanctions against Iran, due to be announced later today.
8.15am: FTSE opens flat as AstraZeneca weighs
The FTSE 100 opened at 10,818.25 before easing 6 points, or 0.06%, to 10,810. The index traded between 10,802.50 and 10,822 during the opening minutes. Live FTSE data
Airtel Africa led the early risers with a 1.2% gain, followed by Halma at 1.1% and Hiscox at 0.9%. Antofagasta added 0.8%, Entain rose 0.7% and Glencore gained 0.3%.
AstraZeneca was the main blue-chip drag, falling around 1%. Informa and Melrose declined approximately 0.7%, while Sage slipped 0.5%.
FirstGroup provided the morning’s most notable move. Its shares fell as much as 7% to 166.9p before recovering to 179.2p, leaving them just 0.1% lower
Spot gold remained firm at around US$4,646 an ounce, up 0.95%, while copper was broadly flat at US$6.59 per pound.
Brent crude traded near US$93.16, down around 1.3%, ahead of the United States unveiling additional sanctions against Iran. BP opened lower, while Shell was broadly unchanged.
Asian markets were mostly weaker, with South Korea’s Kospi down 3.5%, Hong Kong’s Hang Seng around 1.8% lower and Japan’s Nikkei off 0.7%. The ASX 200 bucked the trend with a 0.5% gain.
7.30 am: London faces cautious start
The FTSE 100 is expected to open only slightly higher on Monday as investors assess fresh US pressure on Iran, elevated bond yields and mixed commodity prices.
London’s blue-chip index finished Friday 0.6% higher at 10,816.56, supported by miners and other resource stocks.
Gold rose 0.8% to around US$4,645 an ounce, supported by a softer dollar and safe-haven demand. Copper eased to US$6.58, down 0.04% per pound, potentially producing a mixed opening for London-listed miners.
Brent crude dropped around 1.5% to US$93 a barrel ahead of new US economic measures targeting Iran. Lower oil prices may weigh on BP and Shell while providing some relief for airlines, retailers and other energy-intensive companies.
Markets remain alert to possible Iranian retaliation affecting shipping through the Strait of Hormuz. Tehran has warned neighbouring countries against supporting Washington’s latest campaign.
Asian markets were mostly lower on Monday. South Korea’s Kospi sank 3.5% as Samsung plunged following a shareholder-return plan that disappointed investors.
Hong Kong’s Hang Seng fell 2.1%, while Japan’s Nikkei 225 and Taiwan’s Taiex lost 0.5%. The Shanghai Composite declined 0.7%. Associated Press.
Alibaba shares fell sharply in Hong Kong on HK$80 billion (US$10.2 billion) equity placement to finance further investment in artificial intelligence.
Australia bucked the regional trend, with the S&P/ASX 200 finishing 0.5% higher near 9,107. Miners led the advance as BHP gained around 3.4% and the materials index reached a record high.
Ansell surged around 18% following its annual results, while Data#3 and uranium producers Paladin Energy and Deep Yellow gained more than 10%. Nib Holdings, Endeavour Group and Aussie Broadband were among the leading fallers. Market Index
Bitcoin traded near US$77,100, while US equity futures edged lower. With the UK economic and corporate calendars relatively quiet, geopolitics, commodities and bond yields are likely to determine London’s early direction.
