The FTSE 100 opened broadly unchanged at 10,833.58, up less than 0.01 per cent, as investors weighed cooling UK economic growth and Strait of Hormuz tensions.
Germany’s DAX outperformed, gaining 0.34 per cent to reach 26,421.06, while the Euronext 100 was effectively flat at 1,973.14 on the open.
US markets closed positively overnight, with the Nasdaq finishing at 26,588.49 and the S&P 500 advancing to 7,748.50 after an on-target inflation reading.
The US inflation data eased concerns over further near-term Federal Reserve tightening, contributing to the broadly constructive tone across global equity markets.
Commodity markets were mixed, with copper, Brent crude, and natural gas all moving lower, while gold edged higher amid persistent geopolitical uncertainty.
Oil sentiment reflected weaker global demand forecasts alongside continuing uncertainty over the Strait of Hormuz, keeping energy prices under pressure during the session.
Currency markets saw the US dollar weaken marginally against sterling, while the Swiss franc, Japanese yen, and Australian dollar all strengthened slightly, with the euro unchanged.
Global property services group Savills (LSE:SVS) reported stronger first-half earnings, with performance improving alongside the acquisition of Eastdil Secured expanding its international platform.
The Eastdil Secured transaction strengthens Savills’ position across international real estate advisory and capital markets services, broadening the group’s reach significantly.
Copper miner Antofagasta (LSE:ANTO) reported an 18 per cent increase in first-half revenue to $4.48 billion, driven by stronger commodity prices and disciplined cost management.
The company’s EBITDA rose 27 per cent to $2.84 billion, with cash generation improving significantly despite severe weather affecting production at its Los Pelambres operation.
Antofagasta maintained its full-year copper production guidance, reassuring investors that disruptions at Los Pelambres would not derail the group’s broader operational targets for the year.
Bitcoin was also up against sterling during the session, trading at £47,342.92, adding a further positive note to an otherwise cautiously mixed market opening across the UK.