FTSE 100 Live: Index Opens Lower Amid Mixed Signals from West Asia and Global Markets

The FTSE 100 opened 40 points lower at around 10,393 as mixed signals from US-Iran negotiations kept sentiment cautious, even as oil prices partially recovered from Wednesday’s sharp selloff. 

Gainers & Losers

IG Group Holdings surged 2.33% to £1,847, while Experian advanced 1.83% to £2,678 and Scottish Mortgage Investment Trust gained 1.70% to £1,495.

Also, Babcock International rose 1.40% to £1,054, while JD Sports Fashion added 1.02% to 76.96p and 3i Group edged higher by 0.69% to £2,194.

On the downside, Fresnillo declined 2.74% to £3,232, while Whitbread slipped 2.43% to £2,367 and Endeavour Mining fell 1.97% to £4,339.

Among other laggards, Lion Finance Group dropped 0.73% to £10,940, while Spirax Group eased 0.72% to £6,895 and AstraZeneca edged lower by 0.34% to £13,902.

NVIDIA Beats Forecasts 

NVIDIA beat earnings forecasts after the US close, reporting quarterly revenue of $81.6 billion and profit of $58.3 billion as AI infrastructure demand continued to surge. 

Data centre revenue jumped to $75.2 billion, while the company guided for roughly $91 billion in sales next quarter, ahead of forecasts. 

Chief executive Jensen Huang said the “buildout of AI factories” was accelerating at “extraordinary speed”, describing it as the “largest infrastructure expansion in human history”.

Nationwide’s Annual Incomes Jump

Nationwide witnessed a sharp jump in its annual income as it benefited from a boost in consumer lending and a bigger market share of mortgage balances. 

It recorded a 22% jump in total income to £6.4 billion, which was up £5.2 billion from the previous year. The jump came as consumer lending rose to £11.6 billion from £11.1 billion, driven by a growth in its credit card division. 

Balances hit £8.1 billion in the last financial year, up from £7.8 billion. Business lending took a slight dip, falling to £14.9 billion from £15.1 billion. 

Sage Lifts Outlook

Sage upgraded its full-year guidance after the group reported a 10% increase in revenue to £1.36 billion in the six months to March 31, while operating profit increased 15% to £293 million. 

Earnings per share climbed 14% to £20.7. Chief executive Steve Hare said Sage had delivered an “excellent first-half performance”, driven by growth in cloud products and the rollout of AI tools across finance, payroll and HR software. 

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“By embedding AI directly into our customers’ day-to-day work, we are making our solutions more valuable, reinforcing our competitive advantages, and driving efficient, sustainable growth,” Hare said. 

Sage shares are down around 15% over the last six months and have fallen roughly 10% year-to-date.

Global Market View

In the US, the tech-heavy Nasdaq increased 1.5%, with the Dow Jones climbing 1.3% and the S&P 500 1.1%.

In Asia, South Korea’s Kospi rose 8.42% to 7,815.59 points. In Japan, the Nikkei 225 advanced 3.14% to 61,684.14 points. In China, the Shanghai Composite dipped 2.04%. In India, the Nifty 50 and Sensex declined 0.13% and 0.25%, respectively.