"The main drag came from the defence sector, with easing Middle East tensions seeing sentiment sour for the likes of BAE Systems, Rolls-Royce, Thales and Rheinmetall. Progress towards a ceasefire in Gaza eased geopolitical risk premiums, reducing demand for defence names that had been buoyed by the conflict. Meanwhile, with tensions easing, we are also seeing gold miners like Fresnillo, and energy names such as Shell lose traction."
"Washington confirmed that a 200-strong US military task force would oversee the implementation, though troops will not enter Gaza. While Israeli airstrikes continued in the hours before the vote, the announcement marked the most concrete step yet toward ending the two-year conflict. The prospect of reduced tensions has already weighed on oil and defence shares, though for traders it is worthwhile remaining cautious given the fragility of previous peace efforts."
European equities opened mixed, with the FTSE 100 lagging while mainland indices rose. The defence sector led losses as easing Middle East tensions reduced demand for BAE Systems, Rolls-Royce, Thales and Rheinmetall. Progress toward a Gaza ceasefire lowered geopolitical risk premiums and also pulled back gold miners like Fresnillo and energy names such as Shell. The Israeli government approved an outline ceasefire and hostage-release deal with Hamas, with a US-brokered plan calling for an immediate truce, Israeli retreat and hostages freed within days. Washington confirmed a 200-strong US task force to oversee implementation, though troops will not enter Gaza. US stock futures showed tentative gains amid a tenth-day government shutdown, with Kalshi signaling a possible 24-day closure. Some lawmakers signalled willingness to compromise on healthcare subsidies, and reports suggest next week's CPI reading will still be released by the BLS. The University of Michigan consumer sentiment survey is expected to fall to 54.1 from 55.1.
Read at London Business News | Londonlovesbusiness.com
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