Markets Hold Steady as Bitcoin Rebounds

UK and European markets were relatively stable on Friday, despite investors being cautious ahead of key US data. The FTSE 100 was marginally lower, while the Euronext 100 was modestly firmer.

The Nasdaq Composite closed up 1.40 per cent and the S&P 500 closed up 1.06 per cent overnight, driven by expectations around Federal Reserve policy. This tempered earlier fears of a rate rise, offering some relief to equity markets globally.

However, ongoing tension between the United States and Iran around the Strait of Hormuz continues to weigh on sentiment in energy markets, keeping supply concerns firmly in focus. Brent crude eased marginally despite remaining on course for a sharp weekly gain.

Bitcoin surged against sterling, climbing 3.67 per cent to £59,632.86 and extending its rebound after a volatile week of trading across digital asset markets.

Arrow Exploration Corp (LSE: AXL) reported corporate production above 6,000 barrels of oil equivalent per day, supported by recent drilling, workovers and its Thorsby field acquisition in Alberta. The company is advancing drilling at its Icaco field in Colombia, underscoring its ability to sustain output growth across both its Colombian and Canadian asset base.

Quantum Data Energy PLC (LSE: QDE) reported around 4.7 gigawatt hours of electricity generation in the first half of the year, with its Pyebridge asset achieving prices well above the wholesale benchmark.