FTSE 100 today: Index edges higher, GBP jumps; StanChart, Revolution Beauty rally

Investing.com – Italy stocks were higher after the close on Friday, as gains in the Technology, Industrials and Healthcare sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 added 0.76% to hit a new 5-year high.

The best performers of the session on the Investing.com Italy 40 were STMicroelectronics (BIT:STMMI), which rose 4.67% or 1.04 points to trade at 23.42 at the close. Meanwhile, Stellantis NV (BIT:STLAM) added 4.23% or 0.35 points to end at 8.65 and Azimut Holding SpA (BIT:AZMT) was up 2.97% or 0.91 points to 31.58 in late trade.

The worst performers of the session were Terna Rete Elettrica Nazionale SpA (BIT:TRN), which fell 0.32% or 0.03 points to trade at 8.67 at the close. FinecoBank Banca Fineco SpA (BIT:FBK) declined 0.31% or 0.06 points to end at 19.44 and Italgas SpA (BIT:IG) was down 0.26% or 0.02 points to 7.70.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 431 to 156 and 52 ended unchanged.

Shares in Azimut Holding SpA (BIT:AZMT) rose to all time highs; up 2.97% or 0.91 to 31.58.

Crude oil for October delivery was up 0.05% or 0.03 to $63.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.10% or 0.07 to hit $67.60 a barrel, while the December Gold Futures contract rose 1.07% or 36.20 to trade at $3,417.80 a troy ounce.

EUR/USD was up 0.99% to 1.17, while EUR/GBP unchanged 0.06% to 0.87.

The US Dollar Index Futures was down 0.95% at 97.58.

Investing.com – Germany stocks were higher after the close on Friday, as gains in the Technology, Food & Beverages and Chemicals sectors led shares higher.

At the close in Frankfurt, the DAX rose 0.32%, while the MDAX index added 1.09%, and the TecDAX index added 0.59%.

The best performers of the session on the DAX were Daimler Truck Holding AG (ETR:DTGGe), which rose 3.10% or 1.25 points to trade at 41.62 at the close. Meanwhile, Zalando SE (ETR:ZALG) added 2.83% or 0.69 points to end at 25.03 and Brenntag AG (ETR:BNRGn) was up 2.19% or 1.18 points to 55.14 in late trade.

The worst performers of the session were Commerzbank AG O.N. (ETR:CBKG), which fell 3.77% or 1.43 points to trade at 36.46 at the close. Hannover Rueck SE (ETR:HNRGn) declined 1.33% or 3.40 points to end at 252.60 and Beiersdorf AG O.N. (ETR:BEIG) was down 1.18% or 1.19 points to 99.56.

The top performers on the MDAX were Traton SE (ETR:8TRA) which rose 4.14% to 32.70, Aroundtown Property Holdings PLC (ETR:AT1) which was up 3.81% to settle at 3.49 and Hensoldt Ag (ETR:HAGG) which gained 3.65% to close at 86.55.

The worst performers were Nemetschek AG O.N. (ETR:NEKG) which was down 2.55% to 118.30 in late trade, CTS Eventim AG (ETR:EVDG) which lost 1.64% to settle at 81.20 and Scout24 AG (ETR:G24n) which was down 0.52% to 114.10 at the close.

The top performers on the TecDAX were Siltronic AG (ETR:WAFGn) which rose 5.83% to 38.14, SMA Solar Technology AG (ETR:S92G) which was up 3.98% to settle at 23.52 and SUSS MicroTec SE (ETR:SMHNn) which gained 3.84% to close at 27.58.

The worst performers were Nemetschek AG O.N. (ETR:NEKG) which was down 2.55% to 118.30 in late trade, Deutsche Telekom AG Na (ETR:DTEGn) which lost 0.57% to settle at 31.43 and Draegerwerk VZO O.N. (ETR:DRWG_p) which was down 0.43% to 69.10 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 398 to 204 and 24 ended unchanged.

Shares in Aroundtown Property Holdings PLC (ETR:AT1) rose to 3-years highs; rising 3.81% or 0.13 to 3.49.

The DAX volatility index, which measures the implied volatility of DAX options, was down 1.04% to 17.20.

Gold Futures for December delivery was up 1.04% or 35.20 to $3,416.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.11% or 0.07 to hit $63.59 a barrel, while the October Brent oil contract fell 0.03% or 0.02 to trade at $67.65 a barrel.

EUR/USD was up 0.97% to 1.17, while EUR/GBP unchanged 0.06% to 0.87.

The US Dollar Index Futures was down 0.92% at 97.60.

Investing.com – France stocks were higher after the close on Friday, as gains in the Technology, Consumer Goods and Oil & Gas sectors led shares higher.

At the close in Paris, the CAC 40 rose 0.40%, while the SBF 120 index added 0.44%.

The best performers of the session on the CAC 40 were STMicroelectronics NV (EPA:STMPA), which rose 4.74% or 1.06 points to trade at 23.44 at the close. Meanwhile, Stellantis NV (EPA:STLAM) added 4.37% or 0.36 points to end at 8.65 and Kering SA (EPA:PRTP) was up 2.50% or 5.45 points to 223.80 in late trade.

The worst performers of the session were AXA SA (EPA:AXAF), which fell 1.07% or 0.46 points to trade at 42.59 at the close. Danone SA (EPA:DANO) declined 0.81% or 0.60 points to end at 73.24 and Carrefour SA (EPA:CARR) was down 0.72% or 0.10 points to 13.06.

The top performers on the SBF 120 were Solutions 30 SE (EPA:S30) which rose 6.90% to 2.06, Eutelsat Communications SA (EPA:ETL) which was up 4.83% to settle at 3.26 and STMicroelectronics NV (EPA:STMPA) which gained 4.74% to close at 23.44.

The worst performers were AXA SA (EPA:AXAF) which was down 1.07% to 42.59 in late trade, Gaztransport et Technigaz SA (EPA:GTT) which lost 0.88% to settle at 158.50 and Danone SA (EPA:DANO) which was down 0.81% to 73.24 at the close.

Rising stocks outnumbered declining ones on the Paris Stock Exchange by 317 to 150 and 97 ended unchanged.

Shares in Solutions 30 SE (EPA:S30) rose to 52-week highs; gaining 6.90% or 0.13 to 2.06.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00% to 18.96 a new 52-week high.

Gold Futures for December delivery was up 1.01% or 34.02 to $3,415.62 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.09% or 0.06 to hit $63.58 a barrel, while the October Brent oil contract fell 0.04% or 0.03 to trade at $67.64 a barrel.

EUR/USD was up 0.98% to 1.17, while EUR/GBP unchanged 0.07% to 0.87.

The US Dollar Index Futures was down 0.93% at 97.60.

Investing.com – Belgium stocks were higher after the close on Friday, as gains in the Telecoms, Technology and Basic Materials sectors led shares higher.

At the close in Brussels, the BEL 20 added 0.26% to hit a new all time high.

The best performers of the session on the BEL 20 were Umicore SA (EBR:UMI), which rose 3.04% or 0.41 points to trade at 13.88 at the close. Meanwhile, Melexis NV (EBR:MLXS) added 2.40% or 1.60 points to end at 68.40 and Azelis Corporate Services NV (EBR:AZE) was up 2.28% or 0.30 points to 13.48 in late trade.

The worst performers of the session were Argen-X (EBR:ARGX), which fell 1.81% or 10.40 points to trade at 565.60 at the close. UCB SA (EBR:UCB) declined 0.85% or 1.70 points to end at 197.30 and Ageas (EBR:AGES) was down 0.56% or 0.35 points to 62.50.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 70 to 24 and 13 ended unchanged.

Gold Futures for December delivery was up 1.02% or 34.40 to $3,416.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.19% or 0.12 to hit $63.64 a barrel, while the October Brent oil contract rose 0.04% or 0.03 to trade at $67.70 a barrel.

EUR/USD was up 0.97% to 1.17, while EUR/GBP unchanged 0.07% to 0.87.

The US Dollar Index Futures was down 0.92% at 97.60.

Investing.com - European stocks rose Friday after Fed chair Jerome Powell’s speech at the Jackson Hole symposium. Earlier in the session, European indices were weighed down by German economic weakness. 

The DAX index in Germany gained 0.3% and the FTSE 100 in the U.K. increased 0.1%, while the CAC 40 in France rose 0.4%. 

Germany’s economy contracted in Q2 

Sentiment was hit on Friday by the release of disappointing growth data from Germany, the eurozone’s dominant economy.

The eurozone’s largest economy shrank by 0.3% quarter-on-quarter in the second quarter, compared with a prior estimate of a 0.1% decline, following a 0.3% expansion in the first quarter.

On an annual basis, GDP grew by just 0.2%, after seasonal and calendar adjustments.

The statistics office also sharply revised down GDP figures for 2023 and 2024. As a result, Germany’s economic output remains slightly below its 2019 level, underscoring a prolonged period of stagnation.

Powell’s speech  

However, markets rose after Federal Reserve Chair Jerome Powell signaled that the U.S. central bank was open to cutting interest rates during his highly anticipated speech at the Jackson Hole symposium.

Powell indicated that the U.S. economy was on sufficiently shaky ground that the central bank may soon need to cut interest rates.

“Downside risks to employment are rising,” Powell said in prepared remarks for his keynote speech at the annual symposium. “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” he added.

The likes of European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey are also scheduled to appear on various panels.

Trade deal details 

Investors are fretting about the details of the trade deal struck between the European Union and the United States late last month.

The agreement does not currently include the wine and spirits sector, European Union Trade Commissioner Maros Sefcovic said on Thursday.

The EU Trade Commissioner emphasized that the door is not permanently closed to lowering tariffs for the wine and spirits sector, along with other sectors not covered by the existing deal.

While expressing commitment to address this issue in future talks, Sefcovic acknowledged the challenges ahead, stating, "I don’t want to say that it will be easy, regarding reaching agreement with U.S. on wines and spirits sector."

Investor takes stake in Akzo Nobel 

In the corporate sector, Dulux paints maker Akzo Nobel (AS:AKZO) stock rose after activist investor Cevian Capital took a 3% stake, according to a filing by Dutch market regulator AFM.

Air Liquide (OTC:AIQUY) has agreed to acquire South Korea’s DIG Airgas (NYSE:ARG) from Macquarie Asia-Pacific Infrastructure Fund 2 in a deal worth €2.85 billion, the French industrial gases company said on Friday.

Mediobanca (OTC:MDIBY) shareholders rejected a plan to buy Banca Generali (BIT:GASI) on Thursday, dealing a blow to the Italian merchant bank’s attempts to thwart a hostile takeover by state-backed Monte dei Paschi di Siena.

Crude prices on track for weekly gains

Oil prices edged higher Friday, on track to snap a two-week losing streak, amid increasing signs that peace negotiations between Russia and Ukraine were stalling.

At 12:04 ET, Brent futures gained 0.1% to $67.71 a barrel, and U.S. West Texas Intermediate crude futures rose 0.2% to $63.63 a barrel.

Both contracts climbed more than 1% in the prior session. Brent has risen 3% this week, while the WTI has gained around 1.4%.

The three-and-a-half-year war in Ukraine continued unabated on Thursday, and traders are pricing in more risk that the supply of Russian crude to the global market remains disrupted.

Investing.com – Sweden stocks were higher after the close on Friday, as gains in the Basic Materials, Industrials and Financials sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 rose 1.62% to hit a new 3-months high.

The best performers of the session on the OMX Stockholm 30 were NIBE Industrier AB ser. B (ST:NIBEb), which rose 5.09% or 2.20 points to trade at 46.10 at the close. Meanwhile, Boliden AB (ST:BOL) added 4.00% or 12.70 points to end at 330.50 and AB SKF B (ST:SKFb) was up 3.35% or 8.00 points to 246.50 in late trade.

The worst performers of the session were AstraZeneca PLC (ST:AZN), which fell 0.96% or 15.00 points to trade at 1,542.50 at the close. Tele2 AB (ST:TEL2b) declined 0.76% or 1.25 points to end at 164.05 and Telia Company AB (ST:TELIA) was down 0.08% or 0.03 points to 35.88.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 519 to 238 and 76 ended unchanged.

Shares in AB SKF B (ST:SKFb) rose to 3-years highs; up 3.35% or 8.00 to 246.50.

Crude oil for October delivery was up 0.09% or 0.06 to $63.58 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.04% or 0.03 to hit $67.64 a barrel, while the December Gold Futures contract rose 0.96% or 32.52 to trade at $3,414.12 a troy ounce.

EUR/SEK was down 0.24% to 11.14, while USD/SEK fell 1.13% to 9.51.

The US Dollar Index Futures was down 0.87% at 97.65.