21st Jul 2025 08:58
(Alliance News) - European equities were muted at the market open on Monday, beaten by the FTSE 100 as the index passed the 9,000 mark on a boost from miners.
The FTSE 100 index opened up 11.95 points, 0.1%, at 9,004.07. The FTSE 250 was up 47.48 points, 0.2%, at 21,945.74, and the AIM All-Share was up 2.12 points, 0.3%, at 774.90.
The Cboe UK 100 was up 0.1% at 898.08, the Cboe UK 250 was up 0.3% at 19,331.14, and the Cboe Small Companies was down slightly at 17,590.34.
In European equities on Monday, the CAC 40 in Paris lost 0.2%, while the DAX 40 in Frankfurt was marginally lower.
"The FTSE 100 has opened higher this morning, thanks to miners which are at the top of the basket. Glencore is leading the charge with Anglo American, Antofagasta, and Rio Tinto all staging impressive gains. This is after China started work on the world's largest dam in Tibet, pushing iron ore and steel prices to four-month highs," commented interactive investor analyst Victoria Scholar.
Glencore opened up 3.7%, Anglo American gained 3.3%, Antofagasta improved 3.1%, and Rio Tinto was 2.5% higher.
Brent oil was quoted down at USD69.19 a barrel early in London on Monday from USD69.41 late Friday. Gold was quoted higher at USD3,365.89 an ounce against USD3,352.48.
The pound was quoted down at USD1.3437 early on Monday in London, compared to USD1.3444 at the equities close on Friday. The euro stood lower at USD1.1635, against USD1.1656. Against the yen, the dollar was also trading lower, at JPY148.19 compared to JPY148.48.
Environmental campaigners and consumer groups have offered sharply contrasting responses to a landmark report calling for an overhaul of the water industry in England.
The much-anticipated final report from the Independent Water Commission, led by former Bank of England deputy governor Jon Cunliffe, outlined 88 recommendations to the UK and Welsh governments to turn around the ailing industry.
The report, published on Monday morning, recommended abolishing Ofwat, which oversees how much water companies in England and Wales can charge for services, as well as the Drinking Water Inspectorate, DWI, which ensures that public water supplies are safe.
Mike Keil, chief executive of the Consumer Council for Water, said affordability must be a key focus of reform, with households already struggling following this year's sharp rise in water bills, adding: "We're delighted the commission has recommended building on our work at a time when we're seeing more people turn to us for help."
But River Action Chief Executive James Wallace accused the commission of falling short, saying it had "blinked" when faced with a chance to break with the past.
"This was a once-in-a-generation opportunity to reset a broken and corrupted system," he said. "Instead, we've been handed vague policy nudges that leave the current failed privatised water company model intact."
Verici Dx sank 27% at London's market open.
The Cardiff, Wales-based developer of advanced clinical diagnostics for organ transplants intends to raise around GBP5 million through a placing and subscription at 0.5 pence per share. This represents a 43% discount to the firm's closing share price on Friday.
An unnamed US investor plans to subscribe for 7.4 million shares for a total of GBP37,195. The firm will also run a separate retail offer to raise up to a further GBP500,000 before expenses.
Proceeds will be used to fund the development and scale up of post-transplant rejection test Tutivia, as well as fund product development for the company's urine platform and Protega.
Allergy Therapeutics faded 9.6%.
The Sussex, England-based biotechnology company anticipates second-half revenue of GBP21.0 million for the six months that ended June 30, down 2.8% from GBP21.6 million a year earlier.
This was the result of an "earlier than expected impact of the approaching change in the German regulatory landscape", it explained, which is anticipated will result in unregistered allergy treatments being withdrawn from the market amid a shift to fully licenced products.
Full-year revenue is expected to decline 0.4% to GBP55.0 million from GBP55.2 million, as a result of foreign exchange rates. The firm said revenue rose 2% at constant currency due to strong growth in its Spanish market, which was up 11%.
On the FTSE 250, Oxford Nanopore Technologies gained 14%.
The Oxford, England-based specialist in DNA and RNA sequencing technologies said it expects to report revenue ahead of expectations at around GBP105 million for the six months to the end of June, which would be 25% higher than GBP84.1 million a year earlier.
It noted that growth was strongest across its PromethION product range, for which revenue rose 59% on-year.
Oxford Nanopore said it "continued to progress on its path to profitability" during the first half, delivering an on-year reduction in adjusted loss before interest, tax, depreciation and amortisation, "supported by disciplined cost management and gross profit growth in the period". Full-year guidance remains "on track", it added.
In Asia on Monday, the Shanghai Composite was 0.7% higher, while the Hang Seng index in Hong Kong was up 0.6%. The S&P/ASX 200 in Sydney closed down 0.1%. Japanese markets were closed for Marine Day.
In the US on Friday, Wall Street ended mixed, with the Dow Jones Industrial Average losing 0.3%, the S&P 500 marginally lower and the Nasdaq Composite gaining 0.1%.
The yield on the US 10-year Treasury was quoted at 4.39%, narrowing from 4.42%. The yield on the US 30-year Treasury was quoted at 4.96%, narrowing from 4.99%.
Still to come on Monday's economic calendar, the US Conference Board leading index at 1500 BST.
By Emily Parsons, Alliance News reporter
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