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Blue chip stocks in Europe were mostly lower at Monday midday, as investors await updates on US-EU negotiations as the August 1 deadline is getting closer. The FTSE 100 index was down 7.99 points, 0.1%, at 8,984.13. The FTSE 250 was up 33.34 points, 0.2%, at 21,931.60, and the AIM All-Share was down 0.32 of a point at 772.46. The Cboe UK 100 was down 0.1% at 896.21, the Cboe UK 250 was up 0.2% at 19,311.02, and the Cboe Small Companies was up 0.1% at 17,607.44. ‘Markets were muted at the start of the new trading week as investors awaited updates on US trade negotiations,’ commented AJ Bell analyst Russ Mould. ‘There is now less than a fortnight before the 1 August deadline for the new tariff regime to kick in, and we still don‘t have framework deals between the US and many regions including the EU. ‘It’s now been six months since Donald Trump returned to the White House and it is fair to say he’s ruffled a few feathers during that period. Financial markets have been all over the place, geopolitical tensions have intensified, and uncertainty has prevailed.’ Stocks in New York were called higher. The Dow Jones Industrial Average was called up 0.2%, the S&P 500 index 0.3% higher, and the Nasdaq Composite also 0.3% higher. The yield on the US 10-year Treasury was quoted at 4.38%, narrowing from 4.42%. The yield on the US 30-year Treasury was quoted at 4.95%, narrowing from 4.99%. In European equities on Monday, the CAC 40 in Paris lost 0.5%, while the DAX 40 in Frankfurt shed 0.2%. Consumer sentiment in the UK was little changed in July, data published by S&P Global showed Monday. The S&P Global UK consumer sentiment index edged up to 45.1 points in July from 45.0 in June. Getting closer to the neutral 50-point mark separating growth from contraction, it indicates the deterioration in consumer sentiment slowed in July. S&P Global highlighted that UK households expected their financial situation to worsen, although the extent to which financial wellbeing is anticipated to deteriorate was the least pronounced in seven months. Further, UK households have recorded positive labour market sentiment every month over the last two years, with July indicating a ‘solid’ and stronger improvement, it added. Meanwhile, Ofwat will be abolished as part of an overhaul of a ‘broken’ water regulation system that failed customers and the environment, the UK government has confirmed. Environment Secretary Steve Reed made the announcement in response to an independent review by Jon Cunliffe commissioned by the government to answer public fury over pollution in rivers, lakes and seas, soaring bills, shareholder pay outs and bosses’ bonuses. Reed said the move to create a single ‘powerful’ regulator taking in the functions of four existing bodies with overlapping functions would curb pollution and ‘prevent the abuses of the past for customers’. The pound was quoted slightly up at $1.3447 at midday on Monday in London, compared to $1.3444 at the equities close on Friday. The euro stood lower at $1.1638, against $1.1656. Against the yen, the dollar was trading down at JP¥147.88 compared to JP¥148.48. Miners continued to dominate the top spots in the FTSE 100, with Glencore up 3.4%, Anglo American rising 3.3%, Antofagasta gaining 2.9% and Rio Tinto advancing 2.6%. On the FTSE 250, Hunting was among the biggest winners, 3.7% higher. The London-based supplier to the oil and gas industry has received an order for its titanium stress joints, as part of a phase three deepwater gas development in the Turkish area of the Black Sea. The order is worth $31 million, with the contract expected to be completed over 24 months, with first delivery expected in the first quarter of 2027. Hunting did not name the customer. Hunting added it now has a sales order book of around $125 million, up 72% from $72.5 million at the end of 2024. At the other end, Mony Group slumped 8.3%. The Ewloe, Wales-based tech-led savings platform reported £59.8 million in pretax profit for the six months that ended June 30, up 2.9% from £58.1 million a year prior. Revenue edged up 0.8% to £225.3 million from £223.5 million, while administrative expenses reduced by 6.9% to £67.9 million from £72.9 million. Mony declared an interim dividend of 3.3 pence per share, unchanged from a year prior. Mony is ‘confident’ in delivering adjusted earnings before interest, tax, depreciation and amortisation within the company-cited market consensus for £137 million to £150 million. This would be up 5.8% at best from £141.8 million a year earlier. Adjusted Ebitda in the first half rose 1.5% to £75.1 million from £74.0 million. Empyrean Resources fell 14%. The oil and gas development firm focused on the Duyung production sharing contract offshore Indonesia has raised £1 million before costs through a placing of 1.25 billion new shares at 0.08 pence per share. Funds will be used for development costs for the company’s 8.5% interest in the Mako gas field and for general working capital. ‘We have taken the prudent step in bolstering our cash position now that the major milestone of a gas sales agreement with PLN Pesero, the Indonesian government owned utility company, has been signed following the earlier directive for Mako gas to be used for domestic supply. Indonesian demand for energy is experiencing strong growth and natural gas is replacing coal for this transition,’ said Chief Executive Officer Tom Kelly. Brent oil was quoted lower at $68.92 a barrel at midday in London on Monday from $69.41 late Friday. Gold was quoted higher at $3,363.42 an ounce against $3,352.48. Still to come on Monday’s economic calendar, the US Conference Board leading index at 1500 BST. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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