FTSE 100 Edges Up 0.2% on July 9 as Markets Digest U.S. Tariff Expansion
London’s FTSE 100 inched up 0.2% on July 9, with investors continuing to absorb the impact of U.S. tariff expansions. Advertising giant WPP (WPP.L) plunged 19%—its worst daily drop in over three decades—after slashing profit forecasts due to key client losses and shrinking new business, weighing heavily on the index.
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Australian Business Conditions Surge to 1-Year High, Offset by U.S. Tariff Risks
Australia’s business environment improved sharply in June, with NAB’s Business Conditions Index jumping 9 points to a 13-month peak on July 9, while confidence rose for the third straight month (+3 points). All key metrics strengthened: sales surged 10 points, profitability gained 9 points, and employment edged up 2 points. Capacity utilization hit 83.3%, with future orders climbing 2 points, signaling a shift from early-year weakness and stronger second-half momentum, noted NAB’s Australian Economics Head Gareth Spence.
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Canada's S&P/TSX Dips 0.2% as Mining Slides; Energy Gains Offer Partial Offset
Canada’s S&P/TSX Composite Index fell 0.2% to 26,959.65 on Tuesday, dragged by a 2.4% plunge in mining. Gold producers led declines: SSR Mining (SSRM.TO) dropped 6.1% and Orla Mining (OLA.TO) 6.5%, reflecting global gold price pullbacks.
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Euro Zone Shows Recovery Signs as Sentix Hits 3-Year High, German Industry Rebounds
The euro zone’s economic outlook brightened in July: the Sentix Investor Confidence Index surged to 4.5 (up from 0.2), a three-year peak and third straight rise. The current conditions sub-index improved to -7.3 (still contracting), while the expectations gauge jumped to 17.0, signaling optimism. Germany’s index rose to -0.4 (highest since February 2022), with its current conditions improving for five months. Analysts warn sustained recovery could limit the ECB’s rate-cut room.
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UK House Prices Stabilize; Corporate Investment Shifts Toward Britain
UK house prices showed signs of stabilization in June, with Halifax data recording zero month-on-month growth (previous figure revised up to -0.3%) and annual gains edging down to 2.5%. While April’s stamp duty hike dampened activity—prices are slightly lower than late 2023—mortgage rates have fallen to their lowest since 2023. Halifax Mortgages Director Amanda Bladen noted wage growth is supporting market resilience, with two rate cuts expected this year likely to drive modest price recoveries in H2.
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Australian Shares Edge Higher on Wall Street Record; RBA Rate Cut in Focus
Australian stocks rose modestly on Friday (July 5), buoyed by fresh record highs on Wall Street. The S&P/ASX 200 gained 0.17% to 8,610 in midday trade—less than 30 points from its all-time peak—while the All Ordinaries Index added 0.16% to 8,847.3. Despite stronger-than-expected U.S. jobs data dampening hopes for a July Fed rate cut, markets reacted positively to signs of economic resilience.
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