| Prior Close | ||
|---|---|---|
| Asset | Level | Days Change |
| S&P 500 | 6,944.82 | +0.62% |
| FTSE 100 | 10,048.21 | -0.74% |
| UK Natural Gas | 3.35 | -4.91% |
| 2 Year Gilt | 3.68 | -1 bps |
| 10 Year Gilt | 4.42 | -6 bps |
| GBP/USD | 1.345 | -0.07% |
| GBP/EUR | 1.15 | -0.03% |
| GBP/JPY | 210.65 | -0.20% |
| Brent Oil | 60.70 | -1.72% |
| Gold ($) | 4,482.20 | +1.02% |
| Bitcoin ($) | 90,149.65 | -1.24% |
| Data | Prior | Cons | Actual |
|---|---|---|---|
| S&P Global Constr PMI | 39.40 | 42.50 | 40.10 |
| Data | Prior | Cons | Time |
|---|---|---|---|
| Halifax House Pr Index m/m | 0 | 0.20 | 07:00 |
| Halifax House Pr Index y/y | 0.70 | 1.10 | 07:00 |
UK construction sector contracted further, with PMI rising to 40.1 from 39.4 but missing consensus of 42.5, driven by subdued new orders and output. Markets showed mixed volatility, with FTSE 100 falling 0.74% to 10048.21 in a larger-than-normal decline amid profit-taking in energy stocks following Venezuela oil developments. Gilt yields edged lower, 10-year at 4.42% down 6bps, while GBP/USD dipped 0.07% to 1.345. Brent oil declined 1.72% to 60.70, extending losses from the Venezuela deal, while gold rose 1.02% to 4482.20.
Halifax House Price Index m/m at 07:00 expected at 0.2%, versus previous 0, may reveal housing momentum amid cooling demand. Halifax y/y at 07:00 consensus 1.1% versus prior 0.7%, could influence Gilt yields if inflation pressures persist. No BoE speeches scheduled, but data may tilt cut expectations if housing softens further.
UK carbon capture funding advances economic transition toward net zero, boosting green investment. Brexit impacts linger in services trade, pressuring export growth amid EU relations.
China's plastic packaging market surges on sustainability demands, signaling export opportunities for UK firms despite global trade tensions. EU energy security debates intensify post-Venezuela, favoring renewables to reduce dependence on volatile supplies. Pakistan's VPN ban curbs digital innovation, highlighting authoritarian risks that could affect global tech flows. Japan's services PMI slows to 51.6, reflecting demand softness amid inflation costs.
BoE remains in a cutting cycle, with recent data supporting slower cuts to monitor inflation at 3.2%. MPC dissent persists, favoring fewer hikes amid elevated expectations. Markets price 3-4 cuts in 2026, but housing data could tilt toward more easing if weakness emerges.