The FTSE 100 edged marginally higher at the open on 8 July 2026, bucking a broader trend of weakness across European markets.
Germany’s DAX fell more than one per cent to 25,174.68 while the Euronext 100 also slipped, reflecting investor unease across the continent.
US markets closed lower overnight, with the Nasdaq finishing at 25,818.69 and the S&P 500 at 7,503.85 as investors weighed geopolitical uncertainty and Federal Reserve policy expectations.
Commodity markets moved sharply higher, with Brent crude, copper, gold and natural gas all rising as geopolitical tensions in the Gulf intensified.
Sterling strengthened slightly against the US dollar but weakened against the Swiss franc, euro, Japanese yen and Australian dollar as investors sought traditional safe-haven assets.
Jet2 (LSE:JET2) was among the standout stories of the morning session, reporting record passenger growth alongside a £250 million share buyback programme and an expanded presence at London Gatwick.
Chief Executive Steve Heapy said: “The 2026 financial year was another period of strong progress for Jet2. We took more customers on holiday than ever before, delivered record Revenue and achieved a resilient Operating profit performance even after absorbing Gatwick start-up investment and wider industry cost pressures.”
Jet2 reported record revenue of £7,482.1 million, up four per cent year-on-year, though operating profit slipped two per cent to £439.6 million and pre-tax profit fell seven per cent to £551.0 million.
The results were affected by £11 million of London Gatwick start-up costs, roughly £50 million of employment tax and Sustainable Aviation Fuel headwinds, alongside a 25 per cent drop in net financing income as UK rates eased.
The company’s outlook statement pointed to summer 2026 on-sale capacity running 7.7 per cent ahead of summer 2025, with booked-to-date passengers up 7.1 per cent and average load factor for the first four months of the year 1.2 percentage points ahead of the prior year.
Housebuilder Vistry (LSE:VTY) also made headlines, announcing a strategic reset that will weigh on first-half earnings as the group prioritises cash generation through discounted sales, lower-risk developments and tighter capital allocation.
The measures are designed to strengthen Vistry’s balance sheet and support longer-term profitability, though the company acknowledged that near-term earnings will face pressure as a result.
The FTSE 100 stood at 10,666.09 at the open, up just 0.001 per cent, while Bitcoin fell against sterling to £47,017.91 as risk appetite remained cautious across asset classes.