The FTSE 100 started Tuesday’s session virtually unchanged, opening at 10,854.57 as investors weighed corporate updates and developments in global oil markets.
European peers showed modest gains, with the Euronext 100 rising 0.03 per cent and Germany’s DAX climbing 0.23 per cent in early trading.
Sentiment across the continent found some support as fears over the immediate supply impact of expanded US sanctions against Iran began to ease among investors.
Overnight on Wall Street, the Nasdaq closed lower at 25,980.19 while the S&P 500 declined to 7,652.86, adding a cautious backdrop to the European open.
Commodity markets traded in mixed fashion, with copper edging lower while gold, Brent crude and natural gas all moved higher in early dealings.
Oil markets continued to focus on Iran and the Strait of Hormuz, though traders appeared to view the latest round of US economic pressure as posing less immediate risk to physical supply flows.
In currency markets, the US dollar was unchanged versus the pound at $1.3638, while the Swiss franc, euro and Japanese yen all weakened marginally against sterling.
Gulf Keystone Petroleum (LSE:GKP), the Kurdistan-focused oil and gas producer, demonstrated financial resilience despite production disruption at its Shaikan Field, with operations resuming and output recovering thereafter.
The company also declared a further interim dividend, underscoring its liquidity position and continued ability to support shareholder returns through a challenging operational period.
Volex (LSE:VLX), the specialist power and data transmission manufacturer, raised its FY2027 profit expectations following strong trading across its end-markets, driven largely by demand from data centre customers.
Improved operating leverage at Volex means the board now expects underlying operating profit to exceed current market expectations, representing a meaningful upgrade to the company’s financial guidance.
Bitcoin rose against sterling, trading at £58,681.23, while the Australian dollar strengthened slightly, offering a modest boost to risk sentiment across broader asset classes.
The combination of a resilient corporate earnings picture and easing geopolitical concerns in oil markets provided investors with enough reason to keep European equities broadly supported at the open.