Wall Street, FTSE Dip as Geopolitical Tensions Unsettle Global Markets
Global markets retreated as the geopolitical tensions’ shockwave stoked sell pressure across major exchanges. Escalating US-Iran ceasefire tensions dominated global markets, First National Bank (FNB) said in a morning brief.
The unsettled diplomatic rift sends equities lower as investors weigh the risk to energy security and the fragile outlook for peace in the Middle East.
On Wall Street, the S&P 500 closed down 0.38%, the NASDAQ slipped 0.13%, and the Dow Jones retreated 0.63%, with most sectors in the red amid heightened geopolitical concerns, while investors look ahead to additional employment data due out today to gain further insight into the health of the labour market.
European markets also fell, with the FTSE 100 dropping 1.55% and the Euro Stoxx 50 losing 0.90% amid caution over unresolved negotiations and mixed corporate earnings.
In Asia-Pacific trade, the Hang Seng Index is down 1.09%, the Nikkei 225 is 0.53% lower, and the ASX 200 is tumbling 1.63%, all pressured by renewed conflict and local economic worries.
The JSE All Share Index closed nearly flat on Thursday, edging down 0.01% as investors awaited Iran’s response to a United States (US) peace proposal aimed at ending the Middle East conflict.
The Top 40 Index gained 0.09%, while the Resources Index advanced 0.96% on the back of a 1.53% surge in the precious metals sector. Financials rose 0.10%, supported by a 0.20% gain in Banks, though Industrials weighed on the market with a 1.10% decline.
Life Healthcare fell 10.98% after releasing a trading update, Sappi fell 13.19% after releasing 2Q26 results, while Datatec surged 5.3% on expectations of an annual earnings jump driven by strong technology demand.
Government bond yields fell across the curve, as Moody’s affirmed that South Africa’s debt burden is stabilising despite the Iran war, supporting the positive sentiment.
The Nigerian equity market closed on a bearish note on Thursday, as profit-taking pressures weighed on key large-cap stocks.
Both the NGX All-Share Index and market capitalisation declined by 1.23%, driven largely by renewed sell-offs in Industrial Goods and Banking counters, including WAPCO, BUACEMENT, DANGCEM, and ZENITHBANK.
Consequently, the All-Share Index shed 2,994.90 points to close at 239,734.61, while market capitalisation fell by ₦1.92 trillion to ₦153.86 trillion.
Trading activity, however, strengthened, with total volume and value traded rising by 29.34% and 21.44% to 1.83bn shares valued at ₦72.17bn across 81,131 deals.
FTGINSURE led the volume chart, followed by VFDGROUP, ACCESSCORP, FCMB, and NSLTECH, while SEPLAT topped the value chart, accounting for 20.23% of total turnover.
Market breadth closed positive, with 41 gainers against 30 losers. CAP and FTNCOCOA led the gainers’ chart (+9.99%), alongside ZICHIS, MEYER, BERGER, DEAPCAP, and TANTALIZER, among others.
On the flip side, UPL topped the losers, shedding 10.00%, followed by REDSTAREX, SKYAVN, CILEASING, CONHALLPLC, and LIVINGTRUST.
Sectoral performance was mixed, as the Insurance, Oil & Gas, and Consumer Goods indices advanced by 1.51%, 0.39%, and 0.10%, respectively, while the Industrial Goods and Banking indices declined by 5.45% and 1.11% CardinalStone Upgrades Unilever Nigeria Target Price to N146.08
