Stock market updates: Tesla's shares plummet, European Central Bank maintains interest rates, FTSE 100 hits a new high
Market Highlights: FTSE 100 Hits Record High, Bitcoin Remains Steady
The FTSE 100 index continued its impressive run this morning, reaching a fresh all-time high as markets opened. The index, which represents the 100 largest companies listed on the London Stock Exchange, rose another 55 points to 9,117.
Shares in ITV saw a boost after the broadcaster reported better-than-expected digital performance, with its stock up by a significant margin. Elsewhere, Vodafone's stock received a sales boost following its long-awaited merger with Three, creating the UK's largest mobile operator.
In the world of cryptocurrency, Bitcoin has largely held steady for the past two weeks, despite a more than 20% increase since the start of the year. Despite some short-term caution and possible pullbacks, the outlook for Bitcoin's price movement in mid-2025 remains bullish, with key technical breakouts and institutional factors supporting a rise towards $150,000 to $200,000+ by year-end.
However, near-term volatility and minor corrections around $109,000 to $115,000 are possible, given recent market indecision and technical signals. Analysts point to indecisive price action, with Bitcoin oscillating between roughly $115,000 and $120,000, as well as patterns on weekly charts that suggest potential near-term downside risk.
Meanwhile, in the corporate sector, British firms cut jobs and reduced new orders in July, reflecting the ongoing challenges in managing the fallout from 'Awful April' and an unrelentingly turbulent trade and geopolitical landscape.
Other notable developments include BT Group reporting a 10% drop in pre-tax profit, Centrica posting earnings before interest, tax, depreciation, and amortization of £900m, and TSB reporting a statutory profit before tax of £191.4m.
Relx increased its dividend by 7% to 19.5p after profits jumped 9% to £1.7bn and revenues climbed 7% to £4.7bn. Reckitt Benckiser upgraded expected revenue for its core brands to above 4% this year, while Computershare's Q2 report revealed that UK companies distributed dividends of £35.1bn during the second quarter of 2025, albeit a 1.4% decrease year-on-year.
In the automotive sector, Tesla shares slumped as much as 9% in the opening minutes of trade in New York due to declining sales and a 13.5% year-on-year drop in global deliveries. However, Reckitt's margins came in ahead of consensus, and the company's shares soared by 9.1% in early trading.
On the personnel front, BT's group chief financial officer, Simon Lowth, is planning to retire from the business, with Patricia Cobian appointed to succeed him. ITV shares also rose as much as 7.4% in early trading after posting better-than-expected half year results.
Wizz Air announced its plans for a "strategic realignment and focus on core markets" following debt downgrades. The European Central Bank held interest rates at 2%, marking the first time in over a year that it has not cut rates.
Lastly, Keir Starmer and Narendra Modi signed a trade deal worth an estimated £6bn, with the UK Prime Minister hailing the landmark agreement a "historic day" for relations between Britain and India.
[1] [https://www.bloomberg.com/news/articles/2025-07-01/bitcoin-to-hit-200-000-by-year-end-as-etf-inflows-drive-rally-analyst] [2] [https://www.cnbc.com/2025/07/05/bitcoin-price-slides-below-120000-as-investors-assess-weekly-chart-pattern.html] [3] [https://www.forbes.com/sites/mikealansin/2025/07/06/bitcoin-price-forecast-2025-why-buy-and-hold-strategy-is-a-good-idea/?sh=6f7a501b61c1] [4] [https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-buy-the-dip-or-sell-the-rally-202507070644] [5] [https://www.investopedia.com/terms/o/optimizedtrendtracker.asp]
- The insurance and finance sectors may view the bullish outlook for Bitcoin as an opportunity for innovative investment strategies in the technology industry.
- Personal-finance education and self-development workshops could explore the implications of Bitcoin's volatility and potential price movement on general-news platforms.
- The economy and banking industry could be significantly impacted by the upcoming Bitcoin ETF inflows, as proposed by several analysts.
- In the corporate world, British firms' ongoing challenges in managing job cuts and new orders due to economic instability might prompt discussions on lifestyle changes and saving tips in personal-finance forums.
- The video and entertainment sectors could capitalize on the public's interest in Bitcoin, creating content like documentaries or drama series about the cryptocurrency markets and its influence on the investment industry.
- Sports sponsorships and endorsements could see renewed interest, as athletes and teams increasingly seek to diversify their financial portfolios by investing in crypto-assets like Bitcoin.
- Investing in Bitcoin and other digital assets could become a common topic in education-and-self-development seminars and workshops focused on entrepreneurship and business strategy.
- As the FTSE 100 and Bitcoin prices continue to evolve, investors across various industries, including technology, education, entertainment, and sports, will remain focused on their personal-finance goals to ensure long-term financial security and growth.
