13:26 — FTSE holds steady as Wall Street waits on Nvidia, oil slides 3%
London's FTSE 100 remained in a tepid mood, up very slightly at 10,865.82.
As attention shifts toward New York, Wall Street's early indicators are pointing to a firmer open, with the Dow seen up 0.54%, whilst the S&P is similarly called up 0.49%.
The tech-centric Nasdaq 100 meanwhile is indicated up just over 1%.
Nvidia's results, due after Wednesday's close, remain among the few things being talked about this week (the others are Jackson Hole and, of course, Iran).
Reporting from Reuters highlighted that options pricing ahead of the numbers implies a potential for a swing of roughly $280 billion in Nvidia's market value.
Focus is on the Rubin chip launch, with its relative performance expected to heap scrutiny of AI-related financing alongside the results.
Elsewhere, Brent crude oil is down close to 2.85%, extending its retreat back beneath $90 - today trading at $89,53 per barrel.
Gold eased slightly on Tuesday to around $4,694.
10:46 — Vistry's £350m housing grant fuels sharp rally
The FTSE 100 continues its statuesque session, barely moving at 10,865, up 11 points for the day.
Nevertheless, a few stocks are worth mentioning:
Vistry Group (LSE:VTY) has pushed further ahead, now up 17.94% at 316.8p, after confirming it has been reconfirmed as a Strategic Partner under the government's Social and Affordable Homes Programme and secured £350m in direct grant funding, the largest award available in this phase of the scheme, enough to deliver more than 3,000 affordable homes and well ahead of what Vistry achieved under the previous programme's first round.
Galileo Resources (AIM:GLR) remains the morning's biggest single mover, up 28% at 0.8p, now explained by news of a newly discovered porphyry mineralised system at its Ferber licence in Nevada, where surface work alongside partner Bronco Creek Exploration has identified a copper porphyry system with associated skarn.
Sunrise Resources (AIM:SRES), a new entrant to the mover board at 10% higher, has published a gold target announcement in the Premier Nevada gold belt.
Smarter Web Company (LSE:SWC), down 7.89%, disclosed that Jesse Myers is leaving the company from 1 September, with chief executive Andrew Webley confirming the group's Bitcoin Treasury Policy remains unchanged under board oversight.
Solvonis Therapeutics (LSE:SVNS) has trimmed its loss slightly to -11.14%, with no further detail beyond Monday's £1.3m fundraise to explain the scale of the reversal.
Not only does the market have a sleepy, summer's-end feel, but market sentiment is also tempered by a looming giant - as traders await Wednesday night's earnings report from chipmaker and AI enabler Nvidia.
10:06 — Melrose hits 502p as Volex, Tungsten West, Vistry lead a broadening mid-cap surge
The FTSE 100 steadied at 10,867, up 13 points, but it is another quiet August session.
Melrose Industries (LSE:MRO) remained a focus, with the stock trading at 502.2p, up 8.7%, after confirming three developments on its GKN Aerospace Garden Grove facility in California: a claims programme worth up to $100 million for residents and businesses affected by the May evacuation order, confirmation that the Orange County District Attorney's Office has closed its criminal investigation with no charges to be brought, and a target of 28 September for GKN to resume full manufacturing operations there.
Volex (AIM:VLX) has surged to 639.1p, up 19.68%, after telling its AGM that trading in the four months to 31 July delivered 28.0% constant-currency organic revenue growth, with profit now expected to come in ahead of market expectations, growth it described as broad-based across all five end-markets, led by Complex Industrial Technology on sustained Data Centre demand.
Tungsten West (AIM:TUN) has jumped to 50.975p, up 18.27%, on confirmation of a strategic investment from the UK Government's National Wealth Fund backing the restart of production at its Hemerdon tungsten and tin mine in Devon; the company also disclosed LTIP option grants to chief operating officer Ronald Day and other senior managers.
Vistry Group (LSE:VTY) has climbed to 316.0p, up 17.65%, after securing £350 million in direct grant funding under the first allocation of the government's £39 billion Social and Affordable Homes Programme, the largest award available in this phase, and one Vistry says will support delivery of more than 3,000 affordable homes.
Gulf Keystone has added to Monday's momentum, now up 9.87% to 201.5p, still tracking its half-year results and interim dividend announcement.
Galileo Resources (AIM:GLR) has jumped 28.0% to 0.8p after reporting that surface work at its Ferber licence in Nevada has identified a copper porphyry system with associated skarn, work carried out alongside partner Bronco Creek Exploration.
EDX Medical Group (AIM:EDX) remains down 20.0% at 9.0p, a sharp reversal from its earlier gain that stays unexplained. Solvonis Therapeutics (LSE:SVNS) has pared its loss slightly to -12.36%, still digesting Monday's £1.3 million fundraise.
08:20 — FTSE 100 starts Tuesday positively, Melrose and South32 lead risers
The FTSE 100 open on the front foot, rising to around 10,880, up 25 points, or 0.23%.
Melrose Industries led the gainers, up 2.6% to 474p, after confirming a claims programme of up to $100 million for residents and businesses affected by the Garden Grove evacuation and setting 28 September as its target to resume full manufacturing at the plant. The Orange County District Attorney's Office has also closed its criminal investigation into the incident without bringing charges.
Mining firm South32 is up 1.44% to 267.8p, near its 52-week high, after reporting a 61% increase in its Sierra Gorda ore reserve estimate.
Solvonis Therapeutics has moved the other way as it raised £1.3 million this morning, the shares down 14.29% at 0.12p. Bsf Enterprise (LSE:BSFA) is down 7.12% at 1.161p after Indigo Capital (LSE:CAPD) Investments converted £100,283 of an outstanding £1 million convertible loan note into 10 million new shares.
08:01 — Chesnara, Gulf Keystone, Savannah Energy make early headlines
Chesnara lifts its interim dividend 6% after operating capital (LSE:CAPD) generation jumps 79% in its half-year results.
Gulf Keystone Petroleum publishes its 2026 half-year results alongside interim dividend information.
Savannah Energy confirms its Uquo 13 gas well is on stream in Nigeria in an operational and financial update.
Volex says FY2027 profit is set to beat forecasts.
South32 reports a 61% increase in its Sierra Gorda ore reserve estimate.
Tialis Essential IT formalises a strategic advisory agreement with AI Auxesis.
Alternative Income REIT issues an acceptance level update on Glenstone's cash offer for the company.
Solvonis Therapeutics raises £1.3 million.
The full detail on this morning's news is in The Premarket Brief.
06:45 — FTSE 100 seen firmer at open as VIX jump clouds mixed Wall St handover
The FTSE 100 is seen firmer ahead of Tuesday's open, with IG's early pre-market quote marked at 10,869.5, up 13 points from Monday's close.
It comes after Wall Street closed mixed on Monday, with the Dow Jones adding 162 points, or 0.3%, to 53,439, while the S&P 500 slipped 22 points to 7,651 and the Nasdaq Composite dropped 198 points, or 0.75%, to 25,982 as tech shares slid and pressure tied to Iran built through the session.
The VIX, the volatility index, jumped nearly 5% to 15.88 overnight.
In Asia, Japan's Nikkei 225 was up 0.4% to 65,787.
The price of Brent crude oil is a bit softer at $90.57 a barrel whilst the dollar index is little changed at 99.07.
Gold us holding steady at around $4,702 an ounce, whilst in forex, cable is slightly weaker at 1.3625.
Bitcoin extended its overnight advance to 2.25%, trading at $80,759, whilst Ethereum is up 1.09% to 2,509.
Market commentators still focus on the US Treasury support for the bond market, which pundits reckon could lower yields and support risk-asset valuations in the short run, while complicating the inflation picture further out.
Elsewhere, S&P has warned that Europe's heatwaves are weighing on insurers' earnings outlook.
