Early market roundup: Stocks mixed amid PMI data bonanza; gold higher

Stocks were mixed on Wednesday morning in London as the war in Iran continued, with US President Donald Trump pledging that the navy would escort oil tankers through the Hormuz Strait if needed; as purchasing managers index data came through.

The FTSE 100 index opened up 1.55 points at 10,485.68. The FTSE 250 was down 46.31 points, 0.2%, at 22,647.90, and the AIM all-share was up 1.87 points, 0.2%, at 788.30.

Defence major BAE Systems was among the top blue-chips, rising 1.4%. Babcock gained 0.6% and Rolls-Royce 0.3%. Travel stocks easyJet and IAG lost 0.7% and 1.4%, respectively.

The Cboe UK 100 was up 0.2% at 1,042.28, the Cboe UK 250 was down 0.3% at 19,953.42, and the Cboe small companies was down 0.1% at 18,113.18.

Intertek led the FTSE 100, up 2.2%, early on Wednesday, recovering after it closed as the biggest faller on Tuesday despite reporting steady annual earnings and raising its dividend.

Vistry was the FTSE 250’s biggest loser, down 18%.

The housebuilder reported £3.61 billion in annual revenue, down 4% on-year, while adjusted pretax profit increased 2% to £268.8 million in line with expectations. It said the top-line decrease reflects ‘continued challenges in the open market, and the uncertainty related to the November budget’.

Also, Vistry announced that Chair & CEO Greg Fitzgerald will retire at its AGM in May.

Construction firm Galliford Try, by contrast, led the FTSE 250 with a 5.6% rise, after reporting revenue of £934.9 million for the six months ended December 31, up 1.3% on-year.

Statutory pretax profit rises 22% to £24.3 million, and Galliford raised its interim dividend by 18% on-year to 6.5p per share. For the full year, it said it expects revenue and adjusted pretax profit to be above the top end of the current market guidance ranges.

Also on the FTSE 250, Metro Bank was up 0.7% after reporting a swing to £87.2 million in profit for 2025 against the prior year’s £212.1 million loss, and total underlying revenue growth to £585.1 million.

Looking ahead, the firm said it is well-placed to continue on its strategic delivery and growth trajectory.

In European equities on Wednesday, the CAC 40 in Paris was flat, while the DAX 40 in Frankfurt was up 0.4%.

The pound was quoted higher at $1.3345 early on Wednesday in London, compared to $1.3305 at the equities close on Tuesday. The euro stood higher at $1.1601, against $1.1585. Against the yen, the dollar was trading lower at JP¥157.47 compared to JP¥157.80.

In Asia on Wednesday, the Nikkei 225 index in Tokyo was down 3.6%. In China, the Shanghai Composite was down 0.8%, while the Hang Seng index in Hong Kong was down 2.0%. The S&P/ASX 200 in Sydney closed down 1.9%.

In the US on Tuesday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.8%, the S&P 500 down 0.9% and the Nasdaq Composite down 1.0%.

The yield on the US 10-year Treasury was quoted at 4.09%, widening from 4.07%. The yield on the US 30-year Treasury was quoted at 4.74%, widening from 4.71%.

Brent oil was quoted higher at $84.11 a barrel early in London on Wednesday from $83.06 late Tuesday, after US President Donald Trump pledged that if needed, the navy would escort oil tankers through the Hormuz Strait – through which about a fifth of global oil supplies flow – and ordered Washington to provide insurance for shipping.

Back on the FTSE 100, oil majors BP and Shell were both down 0.5%.

Gold was quoted higher at $5,179.56 an ounce against $5,114.94.

Still to come on Wednesday’s economic calendar, the UK has its PMI release, followed by unemployment and producer price inflation from the eurozone. PMI data for France, the eurozone and Germany are already out, with eurozone and Germany outperforming the flash reading, while France’s PMI was exactly in line with flash data.

Copyright 2026 Alliance News Ltd. All Rights Reserved.