Market Overview
The FTSE 100 rose 0.15% as of 03:25 ET (07:25 GMT), while Germany’s DAX gained 0.24% and France’s CAC 40 added 0.26%. Sterling was little changed, edging up 0.03% to $1.3640 against the dollar.
Cryptocurrency Momentum
Bitcoin surged above $80,000, trading last near $80,323 after earlier touching $81,237.94 in Asian hours – its strongest level since mid‑May. The cryptocurrency posted a 4.07% intraday gain and is up 28% for August, putting it on track for the biggest monthly rise since November 2024. The rally was bolstered by a softer dollar following Treasury Secretary Scott Bessent’s bond‑buyback plans, which revived crypto market momentum. Former President Donald Trump called on Congress to pass legislation clarifying cryptocurrency regulation, noting that bitcoin has risen 16% since his appeal.
Geopolitical and Sanctions Context
U.S. War Secretary Pete Hegseth said Washington is “by no means” ruling out kinetic strikes on Iran, emphasizing that economic pressure remains the primary tool. Treasury Secretary Bessent warned that “no one is above the reach of US sanctions,” indicating that Chinese banks buying Iranian oil could be targeted, alongside new sectoral sanctions and an “Operation Economic Outcast” campaign. Iran’s Mohsen Rezaei cautioned Tehran could halt all Gulf oil exports if the economic war continues. Reports also noted that U.S. and Israeli strikes allegedly killed Iran’s Supreme Leader on 28 February, prompting Iranian retaliation and a partial shutdown of the Hormuz Strait, with an April cease‑fire punctuated by flare‑ups.
Commodity Prices
Brent crude fell 0.72% to $89.89 a barrel, while U.S. WTI slipped 0.74% to $89.91. Gold futures eased 0.016% to $4,697.36, and spot gold declined 0.22% to $4,641.30.
Corporate Updates
Melrose announced that GKN aims to restart full Garden Grove operations by 28 September and has launched a $100 million claims programme, stating it faces no criminal charges. Additionally, easyJet and Apollo have extended the deadline for a scheme document to 15 October amid ongoing regulator discussions.
Publication Details
The article, authored by Navamya Acharya, was published on 25‑08‑2026 at 12:56 pm and sourced from Reuters.