"The Footsie has taken a breather as investors assess hopes for a resolution in tense relations between Iran and the US, while also monitoring the drama on the UK political scene. Mining stocks have slipped back after precious metals erased some of their recent gains. Geopolitical worries are taking a bit more of a back seat as negotiations continue over Tehran's nuclear programme. This has seen oil prices retreat slightly as immediate supply concerns ease, putting pressure on listed energy giants."
"Bitcoin's vertiginous descent continues as investors flee riskier assets. The cryptocurrency has been in freefall this year and has now dropped back below the psychologically important $70,000 mark. While there has been some bargain hunting after last week's chaotic retreat, sentiment has turned lower again. The sell-off is affecting coins across the crypto sphere. Crypto is a speculative asset class, and when jitters take hold - whether due to fears of an AI bubble, the prospect of fresh geopolitical conflict, or interest rates staying higher for longer, sentiment suffers. Institutional demand has also cooled sharply amid portfolio recalibration, adding to Bitcoin's decline."
FTSE 100 opened lower as investors assessed hopes for a resolution in tensions between Iran and the US and watched UK political developments. Gold erased recent gains but remained above $5,000 an ounce. Brent crude stayed elevated amid ongoing concerns around Iran, though oil prices have retreated slightly as negotiations eased immediate supply worries. BP shares fell about 5% after weaker crude last year reduced annual profits and led to a suspended buyback and renewed cost-cutting promises. Bitcoin fell below $70,000 amid a broad crypto sell-off and cooling institutional demand. Ten-year gilt yields stayed above 4.5% despite slightly lower borrowing costs.
Read at London Business News | Londonlovesbusiness.com
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