Key facts
- Kingfisher shares jumped 18% following a profit upgrade.
- The FTSE 100 closed up 4.81 points at 10,748.16.
- Brent crude oil surpassed $93 a barrel.
- Bitcoin surged over 10% to $70,000.
- US national debt exceeded $40 trillion.
- JD Sports Fashion's first-half profits fell, but sales rose 18%.
Kingfisher shares surged 18% after the home improvement retailer upgraded its profit forecast, contributing to a modest rise in the FTSE 100 index. The index closed 4.81 points higher at 10,748.16, recovering from earlier losses.
Globally, US President Donald Trump's vow of "economic D-Day" against Iran sent Brent crude oil prices above $93 a barrel and pushed Treasury yields higher. Meanwhile, Bitcoin surged more than 10% to touch $70,000 for the first time since early June, and the US national debt surpassed $40 trillion.
In London, defense stocks like BAE Systems rallied on Trump's comments regarding Ukraine. JD Sports Fashion reported a 13.5% drop in adjusted profits for the first half of its financial year, though total sales increased 18% driven by acquisitions. The company maintained its full-year guidance, citing limited impact from potential US tariffs.
Separately, UBS predicted that the Bank of England will keep interest rates on hold for the remainder of 2026, citing supply-side inflation and a resilient but limp economy. Over-50s travel and insurance provider Saga reported better-than-expected half-year results, leading to an upgrade in its profit guidance for the financial year.