FTSE 100 down 38 points Dow Jones set to jump at the open Investors eye Trump-Putin talks in Alaska Chinese data disappoints Asian markets end mixed 4.55pm: FTSE loses ground
The FTSE 100 closed down 38 points, or 0.4%, at 9,139.
2pm: Footsie falters as August malaise returns
The FTSE 100 dipped into the red in early afternoon trade after hitting a new record above 9,200 earlier in the session.
The blue chip index was last down 18 points at 9,158.89, a loss of 0.2%. It traded as high as 9,219 earlier this morning.
US futures are still mixed ahead of the open in 20 minutes, with Dow Jones futures up 0.6% while S&P futures are 0.1% higher and those for the Nasdaq are down 0.1%.
On the continent, Frankfurt’s DAX has also capitulated and given back the morning’s gains, trading a few points down, but the Paris CAC 40 is still 0.5% higher.
1pm: Wall Street set for mixed start
The Dow Jones is expected to open sharply higher when trading gets underway, as investors eye those talks between US President Donald Trump and his Russian counterpart, Vladimir Putin.
Dow futures were 0.7% higher an hour and a half before the US market opens, with those for the S&P 500 up a more muted 0.2%. Nasdaq futures fell 0.1%
Also on today’s agenda in the US, the Census Bureau will release July retail sales data ahead of the market open, with analysts expecting a 0.5% rise after June’s stronger gain. They expect spending to have remained resilient as shoppers took advantage of summer discounts and moved purchases forward to avoid potential price increases from anticipated higher trade tariffs.
The FTSE 100, meanwhile, continues to hover just above yesterday’s close and is currently 5 points up at 9,181.74.
10.30am: Footsie loses momentum
After a strong start that took London’s blue-chip index to a new record, the market has lost momentum, with the Footsie now just 4 points higher at 9,181.38.
Rightmove PLC (LSE:RMV) miners Glencore, Anglo American and Antofagasta continue to provide support, big industrials including Rolls-Royce Holdings PLC (LSE:RR.) and British American Tobacco PLC (LSE:BATS) are weighing on the index. Rightmove PLC (LSE:RMV) is also down sharply this morning.
Elsewhere in Europe, Frankfurt’s DAX is still up 0.4% and the CAC 40 in Paris has gained 0.8%.
“European markets are gaining traction ahead of a key meeting between Trump and Putin in Alaska, raising hopes of a potential end to the war taking place on their doorstep,” said Scope Markets’ Joshua Mahony. “Trump outs the chance of a deal at 75%, although the sceptics will likely attach a much lower likelihood as Putin seeks to build on recent battlefield gains. A suggestion that Trump could open up both Ukrainian and Alaskan mineral mining for the Russians does highlight the efforts Trump has gone to appease Putin in a bid to strike a deal.”
10am: Small cap headlines
Light Science Technologies Holdings PLC (AIM:LST) secured £500,000 in new CEM contracts, including a £300,000 deal for transport signage lighting, starting October. Two re-tendered contracts extend into 2026, lifting the CEM order book to £2.5 million. CEO Simon Deacon cited progress in targeting transport, defence, and medical sectors, with the group’s total pipeline now exceeding £58 million. Read more
Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF) shares jumped over 10% to 156.95p after completing the first adult dose cohort in its Phase I trial of HG-CT-1, a CAR-T therapy for acute myeloid leukemia. With positive early results, the company is now preparing to escalate dosing and enrol pediatric patients. Read more
Oxford BioMedica PLC (LSE:OXB) has raised £60 million via a placing and subscription to fund U.S. expansion and boost manufacturing capacity. Shares rose 1.75% to 447.65p following strong support from new and existing investors, including MIT, Briarwood Chase, Novo Holdings and Institut Mérieux. Read more
SolGold PLC (LSE:SOLG, TSX:SOLG, OTC:SLGGF) shares surged 17% after reporting strong near-surface assay results at Ecuador’s Tandayama deposit, including 140m at 0.92% copper equivalent. CEO Dan Vujcic called TAD-58’s high grades and widths “robust,” supporting plans for early, low-cost, open-pit mining. The results bolster confidence in Cascabel’s development, highlighting potential for high-margin, early-stage production. Read more
PYX Resources Ltd (LSE:PYX, NSX:PYX) told investors it paused first-half 2025 production due to low mineral prices, high costs, and rising Indonesian royalties. Export licences for zircon, ilmenite, and rutile were suspended, impacting 14 firms, including PYX’s subsidiaries. CEO Oliver Hasler cited regulatory challenges but expressed confidence in the sector’s long-term potential and ongoing talks with authorities. Read more
Vaultz Capital PLC (AQSE:V3TC) named Aleks Nowak COO, effective immediately. With 20+ years in fintech, blockchain, and security, Nowak founded BlockEx and led digital asset platform development. CEO Eric Benz praised his expertise in regulatory-compliant blockchain, calling him key to driving innovation and growth in digital assets. Read more
9am: New record for the Footsie
The FTSE 100 briefly touched a new record above 9,200 in early trade, before retracing some of its gains. It’s currently 11 points up at 9,187.69.
“Mining stocks took up the baton and ran early on Friday following a third straight record close on Wall Street,” commented Saxo’s Neil Wilson. “Glencore, Antofagasta and Anglo American all rose 2-3% early doors as the blue chips hit a fresh record high in London as traders looked ahead to the Trump-Putin meeting with very little else on the calendar today.”
“Do we see a peace deal? Trump has signalled a tough stance, and we don’t really know what Putin is thinking ever,” Wilson continued. “Markets are already discounting a peace dividend and increased military spending via German fiscal expansion…is there any good news left to surprise us?”
On the continent, Frankfurt’s DAX index is up 0.5% while the Paris CAC 40 0.6% higher.
8.30: As good today as it’s always been
Associated British Foods PLC (LSE:ABF) is up 0.4% this morning on news it is snapping up Hovis Group in a deal reportedly worth £70 million, aiming to revive its bread business.
The acquisition merges Hovis with ABF’s Allied Bakeries to cut costs, boost efficiency and create a more competitive player in the shrinking sliced bread market. The combined group will focus on innovation, tapping into faster-growing bakery segments.
CEO George Weston says the move sets up a profitable, sustainable business, with stronger brands, better operations and more choice for consumers.
8.15am: Fast out of the gate
As predicted, the FTSE 100 jumped at the open, gaining 42 points, or 0.46%, to 9,219.13 in opening trades.
Miners Antofagasta PLC (LSE:ANTO) and Glencore PLC (LSE:GLEN) led the charge with gains of more than 2%, with Anglo American PLC (LSE:AAL) not far behind as it jumped 1.7%.
Specialist insurer Beazley PLC (LSE:BEZ) rose 1.7% too.
On the downside, Asia-focused lenders Standard Chartered PLC (LSE:STAN) and HSBC Holdings PLC (LSE:HSBA) fell 0.9% and 0.3% respectively following weak Chinese economic data, while Coca-Cola Europacific Partners PLC (LSE:CCEP, NASDAQ:CCEP) also shed 0.3%.
“Strength in the mining sector typified the ongoing risk-on approach in a broad markup of prices, with little more than a blot in the landscape coming from marginal weakness in Standard Chartered and HSBC after the Chinese economic updates,” commented interactive investors’ Richard Hunter.
“Weak releases on (Chinese) retail sales and industrial production confirmed an economy which is faltering, although more optimistic investors driving the main indices slightly higher on hopes that the numbers could prompt renewed stimulus from the authorities.”
7.45am: Trump-Putin: the main event
All eyes are on today’s Trump-Putin summit in Alaska, as investors hope for signs of progress on ending the Ukraine war.
European leaders worry the US and Russia could strike a deal that sidelines them or pressures Ukraine into concessions. Still, a broadly positive outcome could lift European equities and the euro. A durable peace would also ease global inflationary pressures — though likely with less impact on the US than other regions. Markets are watching closely.
Deutsche Bank’s Jim Reid noted the meeting is scheduled for 8:30pm London time, so any developments may emerge after US markets close.
“In a Fox News Radio interview, Trump estimated a 25% chance of the meeting being unsuccessful but suggested it could pave the way for a second meeting involving Ukrainian President Zelensky,” Reid added. “He described this potential follow-up as ‘very, very important,’ indicating it could be the forum for striking a deal. Our Peter Sidorov notes that while an imminent breakthrough is unlikely, the summit will still be an important signpost for US-Russia relations and the war in Ukraine.”
7.15am: Footsie likely to gain at the open
The FTSE 100 looks set to end the week on a high note after days of muted trade as US President Donald Trump prepares to meet his Russian counterpart Vladimir Putin in Alaska to seek a solution to the war in Ukraine.
Market pundits have the blue-chip index opening 49 points higher, for a gain of just over half a percent, building on yesterday’s 12 point rise.
US markets also moved sideways on Thursday as investors digested hotter-than-expected wholesale inflation data.
The Dow Jones slipped 11 points, while the S&P 500 inched up just 2 points to log its third straight record close. The Nasdaq eased 2 points, just shy of a fresh high.
Markets are mixed in Asia this morning. Tokyo’s Nikkei has surged 1.7% after a better-than-expected GDP report, and Shanghai’s SSE Composite has gained 0.8%. But Hong Kong’s Hang Seng has slumped 1%. The Australian market is up 0.7%.
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