The FTSE 100 appears to be faring best, benefitting from strong gains in the precious metals space and defence stocks. Notably, the weekend newswires told of a potential military deployment into Greenland from the likes of Germany and the UK in a bid to deter Trump's overtures for the island. While Trump's apparent willingness to take aim at land owned by a fellow Nato member does highlight the need for Europe to ramp up defence spending,
Overall, Primark's sales growth in the period was below our previous expectations and we now expect Primark's sales growth in the first half of 2026 to be in the low single digits.
The Japanese Yen has enjoyed a sharp bout of buying pressure this morning, as traders react to commentary from the Finance Minister who claimed she has a "free hand" in addressing the excessive currency volatility. Coming as USDJPY approached 158, we are trading at levels that have previously seen the government intervene in a bid to stem selling pressure for the yen.
That comes despite widespread optimism over US-China trade negotiations, which signal the potential for a breakthrough ahead of Trump's meeting with Xi later in the week. In Europe, this morning has seen a German Ifo business climate survey that brought an improved headline figure of 88.4, while the expectations metric rose to the highest level since Feb 2022. However, despite optimism over future business conditions, the worsening of current conditions (85.3) highlights a perception of a struggling economy that many hope will get better.
European markets opened higher on Wednesday, supported by a rebound in SAP and growing investor optimism ahead of the Federal Reserve's policy decision later in the day. However, the market could remain at risk as investors could remain cautious. SAP led gains in the index, advancing nearly 4% in early trading after upbeat management commentary helped allay recent concerns over its cloud segment.
The biggest mistake we see is overthinking," explains Sarah Mitchell, CEO of EcoWrap, whose biodegradable packaging solutions now serve clients in 12 European countries. "We spent six months researching every possible regulation and requirement, when we could have started with one country and learned as we went.
Since launching in February 2024, umob has experienced strong growth domestically and expanded into key European markets, including Germany, France, and Spain.
Podbike's electric Frikar, a dome-shaped e-bike, provides weather protection and aims for a broader EU market, with new launches targeting Switzerland, Belgium, and France in 2025.
Hedge funds exhibited the largest sell-off of European shares in a decade, prompted by trade tariff concerns and the euro's strength diminishing exports.