\n\tFTSE 100 rises 1\u00a0point\u00a0to 10,654
\n\tGold gains 1.5% to $4,183.92\/oz
\n\tTech stocks send Asian markets higher
\n\tSoft US jobs report dampens rate expectations
<\/p>\n
9.35am: Fresnillo regains\u00a0mojo\u00a0<\/p>\n
The FTSE 100 has retraced much of the morning’s gains, now up just 1 point at 10,654.33, but\u00a0Fresnillo PLC (LSE:FRES)<\/a>\u00a0is holding onto its gains after June’s\u00a0non-farm payrolls report saw the dollar weaken and gold rise.\u00a0<\/p>\n \u201cLast year\u2019s stock market darling Fresnillo has regained its mojo and topped the FTSE 100 risers\u2019 list after gold got back on its feet,\u201d commented AJ Bell’s\u00a0Dan Coatsworth.<\/p>\n Coatsworth explained that yesterday\u2019s US jobs data pointed to a softer labour market, which has raised hopes that the Fed won\u2019t raise interest rates.\u00a0The shift in rate expectations led to a drop in US Treasury yields, meaning the opportunity on fixed income was slightly diminished, thereby dampening one of the drivers that has taken money away from gold this year.<\/p>\n “Investors might have seen this market shift and decided it was time to add back some more gold,” he added.\u00a0\u201cThe precious metal had a disappointing time in the first half of the year and recently dipped below $4,000 as investors were tempted away by attractive yields on bonds and lapped up stocks as the AI boom carried on. Gold has today rebounded, trading just below $4,200 per ounce and taking the likes of Fresnillo and other gold miners along for the ride.”<\/p>\n 9.10am: Samsung on steroids<\/p>\n Further afield, the South Korean market\u00a0traded\u00a0in its usual volatile fashion today, with the Kospi jumping almost\u00a06%, supported by a close to 10% jump in\u00a0Samsung Electronics Co Ltd (ADR) (LSE:BC94)<\/a>\u00a0as investors piled back into semiconductor names after the previous session’s heavy sell-off.\u00a0<\/p>\n That follows reports that AI start-up Anthropic, developer of next-generation AI assistant Claude, is in talks with the company to produce a specialised AI chip, while memory chipmaker SK Hynix gained 9%, highlighting just how quickly sentiment can turn across the AI sector.<\/p>\n “The speed of today’s rebound shows investors remain eager to buy into the AI story whenever conditions improve,” said Tickmill Group’s\u00a0Patrick Munnelly. “Reports linking Samsung with Anthropic have provided a fresh catalyst, but the bigger picture is that semiconductor stocks have become the market’s preferred way to express views on AI spending, interest rates and overall risk appetite. That also means volatility is likely to remain elevated as investors react to every new development.”<\/p>\n Back home, the FTSE 100 has retraced most of its gains and is now just 3 points up at\u00a010,656.31.<\/p>\n 8.55am: Small and mid caps in the news<\/p>\n Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A)<\/a> has raised \u00a34.56 million through an oversubscribed placing to speed up the commercial rollout of its solid-state battery technology. The funding will help scale its Stereax medical battery business and advance its Goliath EV battery towards licensing, with a retail offer giving existing shareholders the chance to invest on the same terms. Read more<\/a><\/p>\n RC365 Holding PLC (LSE:RCGH, FRA:L2G)<\/a>\u00a0has signed a five-year partnership to deploy its RC3.0 fintech platform with Blacksilver Trust in Hong Kong. The deal covers virtual accounts, API integration and trust management software, with recurring SaaS fees that grow annually. RC365 says the agreement is another step in expanding its business-to-business fintech offering across Asia. Read more<\/a><\/p>\n Quantum Blockchain Technologies PLC (AIM:QBT, FRA:BYA1)<\/a> has cleared another legal hurdle in its bid to recover more than \u20ac6 million linked to the long-running Sipiem case. An Italian court dismissed a challenge to enforcement proceedings, allowing the judicial sale of a third property to go ahead, with an auction scheduled for October 2026. Read more<\/a><\/p>\n Caledonia Investments (LSE:CLDN, VFEX:CMCL)<\/a> has invested \u00a360 million in garden centre operator Blue Diamond, taking a 16% minority stake. The funding will support the company’s growth plans and provide liquidity for existing shareholders. Caledonia has also agreed a framework for up to \u00a340 million of additional investment over the next five years to back acquisitions and expansion. Read more<\/a><\/p>\n 8.15am: Off to a flying start<\/p>\n The FTSE 100 jumped after a weaker-than-expected jobs report in the US reined in expectations for the Federal Reserve to aggressively hike interest rates. Trade is expected to remain thin today due to the Independence Day holiday in the US.<\/p>\n Shortly after the open, London’s blue-chip index was up 40 points at\u00a010,692.58, adding to yesterday’s strong gains.\u00a0<\/p>\n Precious metals producer\u00a0Fresnillo PLC (LSE:FRES)<\/a>\u00a0topped the leaderboard, with a 2.6% gain, as the gold price rose 1.3% to $4,174.23 an ounce and silver jumped 2.4% to $62.47.\u00a0<\/p>\n Howden Joinery Group (LSE:HWDN)<\/a>\u00a0was close behind, adding 1.9%, while\u00a0Computacenter PLC (LSE:CCC)<\/a>\u00a0gained 1.7%.\u00a0<\/p>\n Imperial Brands PLC (LSE:IMB)<\/a>\u00a0led the decliners, slipping 0.6%, while retailers\u00a0Burberry Group PLC (LSE:BRBY)<\/a>\u00a0and\u00a0Next PLC (LSE:NXT)<\/a>\u00a0both fell 0.5%.\u00a0<\/p>\n 7.50am: Asian markets recover\u00a0<\/p>\n