UK equities opened little changed on Thursday, with the FTSE 100 flat at 10,815.79 against Wednesday’s close of 10,816.14, as investors weighed renewed tension around the Strait of Hormuz against a stronger-than-expected UK retail sales reading. The Euronext 100 eased 0.09 per cent to 1,897.51 at the open and Germany’s DAX slipped 0.47 per cent to 25,596.46, even as European equities looked to build on a recovery that snapped a two-week slide following reassurance from the Federal Reserve. Wall Street’s overnight session pointed to a firmer tone into the UK open, with the Nasdaq Composite closing up 1.69 per cent at 26,418.30 and the S&P 500 adding 1.14 per cent to finish at 7,637.76.

Commodities were broadly softer at the open, with copper, gold, Brent crude and natural gas all trading lower; Brent extended a third consecutive daily decline as supply concerns eased and diplomatic efforts around the Middle East came into focus. Bitcoin moved against that trend, rising versus sterling. Sterling itself was little changed across major crosses, edging fractionally firmer against the euro, yen and Australian dollar while softening slightly against the US dollar and Swiss franc, as markets continued to digest the recent shift in Federal Reserve messaging.

Market Numbers

FTSE 100: Flat (0.00%), 10,815.79
Euronext 100: Down (-0.09%), 1,897.51
DAX: Down (-0.47%), 25,596.46
NASDAQ: Up (+1.69%), 26,418.30
S&P 500: Up (+1.14%), 7,637.76

In the Headlines

Kalahari Licence Sale – Galileo Resources PLC (LSE:GLR)Galileo Resources provided an update on the sale of two of its Kalahari Copper Belt licences. The update advances the group’s disposal process for these non-core assets and matters to shareholders as confirmation of terms and completion would sharpen the company’s near-term portfolio focus.

Azteca Funding Round – Cadence Minerals PLC (LSE:KDNC)
Cadence Minerals confirmed it has raised £1.80 million to advance its Azteca project. The fundraising gives the company additional working capital, immediately relevant to investors tracking the project’s progress toward its next development milestones.

Currencies (vs GBP)

USD: Flat (0.00%), $1.3356
CHF: Down (-0.01%), Fr.1.1018
EUR: Up (+0.01%), €1.1639
JPY: Up (+0.01%), ¥208.5705
AUD: Up (+0.01%), $1.8772
Bitcoin (BTC/GBP): Up (+2.02%), £58,200.5