FTSE 100 Live: Index Opened 20.23 Points Higher at 10,725, Brent at USD 105.6

The FTSE 100 opened 20.23 points higher at 10,725.49 as continued tensions in the Middle East kept oil above USD 105 a barrel, while surging US Treasury yields continued to weigh on risk appetite across Europe. Brent crude futures rose 2.46% to USD 105.6 per barrel. US West Texas Intermediate (WTI) advanced 2.20% to USD 94.19 per barrel. 

Sterling was quoted at USD 1.3243 early Thursday, lower than USD 1.3254 at the London equities close on Wednesday. Against the euro, sterling fell to EUR 1.1628 from EUR 1.1636 a day prior.

Gainers & Losers 

On the upside, JD Sports Fashion rose 2.18% to 75.84p. British American Tobacco advanced 1.91% to 4,278p, while 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, while 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

Vistry shares slumped after its GBP 661 million pre-tax loss and plans to downsize spooked investors. The housebuilder fell by as much as 7% to 248p in early trade. 

Adam Vettese, market analyst at eToro, said, “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 Recorded Booking Increase

On the Beach recorded a 9% rise in bookings, taking total transaction value to GBP 1.3 billion, marking the fifth consecutive year of record highs. This was fueled by a summer booking rebound, with growth 4% ahead of the prior year, in response to the rise in customers purchasing trips closer to departure dates. 

Chief executive Shaun Morton said the uptick also reflected the “strategic investments” made by the group, including in technology and its expanded product offering. 

The company estimates profit before tax to reach GBP 28 million to GBP 35 million in the next financial year, but it “remains mindful” of the impact the Iran war is having on consumer confidence.

Halma Raises Margin Outlook

Halma raised 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 for the year, including roughly five percentage points of premium growth from its photonics business.

Also Read: US Stocks Fall as 10-Year Treasury Yield Hits Highest Since 2007

Global Market View

In the US, the S&P 500 dropped 0.75% to close at 7,706.03, while the Nasdaq Composite fell 1.13% to finish at 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.