The FTSE 100 opened broadly unchanged on 4 August 2026, with the index sitting at 10,857.63 as investors digested a wave of strong corporate earnings.
HSBC Holdings (LSE:HSBA) delivered first-half profit ahead of market expectations, prompting the bank to announce a further US$1 billion share buyback programme.
The results reinforce HSBC’s capital strength and underline management’s ongoing commitment to returning excess capital to shareholders following a period of robust earnings growth.
BP plc (LSE:BP.) also impressed markets, more than doubling second-quarter profit as stronger oil prices continued to boost earnings from its upstream business and drive cash generation.
The improved performance at BP highlights how elevated energy prices are continuing to benefit major oil producers, despite some easing in crude prices during Tuesday’s session.
Brent crude dipped as renewed hopes of US-Iran diplomatic engagement weighed on energy prices, with improving geopolitical sentiment softening demand for risk premiums in oil markets.
Broader market sentiment was supported by strong corporate earnings, improving risk appetite across European equities, and the prospect of diplomatic progress reducing geopolitical tensions.
Across Europe, Germany’s DAX opened 0.90 per cent higher at 26,234.84, while the Euronext 100 slipped marginally by 0.01 per cent to 1,939.07.
In the United States, the Nasdaq closed at 25,913.90 and the S&P 500 gained to 7,600.50, with both indices finishing higher in the previous session.
In currency markets, the euro edged marginally higher against sterling while the Japanese yen weakened slightly, with the US dollar, Swiss franc, and Australian dollar all little changed.
Commodities presented a mixed picture, with copper and gold both moving higher, natural gas trading firmer, and Brent crude easing on the back of diplomacy-driven sentiment.
Bitcoin rose slightly against sterling, trading at £47,390.30, as risk appetite across a range of asset classes remained broadly constructive heading into the European trading session.