European stock markets opened mostly higher on Thursday, 29 October, supported by strong corporate earnings and expectations surrounding the European Central Bank’s interest rate decision. London advanced as energy shares strengthened, while Gulf markets declined amid geopolitical uncertainty. Across Africa, weaker commodity prices and currency pressures shaped early investor sentiment.
London opens higher as Shell leads gains
Britain’s FTSE 100 gained approximately 0.5% in early trading, supported by a strong performance from energy giant Shell.
Shell shares advanced after the company announced a $5 billion share buyback programme and reported quarterly profits of $10.81 billion, their highest since 2022.
However, healthcare company Haleon fell sharply after reducing its financial guidance, demonstrating the increasingly selective nature of investor confidence.
European exchanges advance ahead of ECB decision
Germany’s DAX opened approximately 0.2% higher, while France’s CAC 40 gained around 0.7%, supported by strong performance from Airbus.
The broader STOXX 600 edged higher as investors awaited the European Central Bank’s monetary policy announcement.
Italy’s FTSE MIB declined approximately 0.4%, while Spain’s IBEX 35 dropped around 1%, pressured by disappointing results from banking group BBVA.
Technology shares also faced pressure following weaker-than-expected results from Alphabet in the United States.
Arab markets retreat amid regional uncertainty
Gulf stock exchanges opened lower as renewed tensions involving Iran and Yemen unsettled regional investors.
Saudi Arabia’s benchmark index declined approximately 0.2%, with Saudi National Bank shares falling.
Dubai’s main index lost around 0.5%, while Abu Dhabi retreated approximately 0.6%, pressured by weakness in leading financial institutions.
Qatar’s market slipped 0.1% as investors monitored diplomatic negotiations and developments affecting regional energy security.
African markets confront commodity and currency pressures
South Africa’s financial markets began Thursday under pressure as the rand weakened against major currencies.
Declining gold and platinum prices weighed on sentiment ahead of the country’s producer inflation figures.
The Johannesburg Stock Exchange opened for its regular session, although independently verified opening index movements were not yet available.
In Nigeria, attention remained focused on banking shares, industrial companies and monetary conditions following recent volatility on the Nigerian Exchange.
Energy prices and monetary policy dominate the outlook
Oil prices declined from recent highs, although Brent crude remained above $110 per barrel, reflecting continued geopolitical risks.
Investors across Europe, Africa and the Middle East are closely monitoring central bank decisions, inflation and corporate profitability.
Thursday’s opening illustrates a divided international investment landscape: European markets are finding support in earnings, while Gulf exchanges remain sensitive to regional conflict and African investors face additional currency and commodity pressures.
NewsHub Finance | Global Markets | 29 October 2026
European stock markets opened mostly higher on Thursday, 29 October, supported by strong corporate earnings and expectations surrounding the European Central Bank's interest rate decision. London advanced as energy shares strengthened, while Gulf markets declined amid geopolitical uncertainty. Across Africa, weaker commodity prices and currency pressures shaped early investor sentiment.
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