Market News Feed
AI Daily 5 entries
LONDON MARKET CLOSE: Blue chips down, pound up amid tariff uncertainty
- FTSE 100 closed lower on Tuesday, while sterling strengthened.
- The FTSE 100 index closed down 0.2%, while the FTSE 250 and AIM All-Share also ended the day lower.
- European equities were mixed, with the CAC 40 and DAX 40 up, while the Cboe UK indices closed down.
- US stocks were higher at the London equities close.
- US President Donald Trump halted tariffs on Mexico and Canada, but a 10% tariff on China is set to go ahead.
- The dollar fell against European currencies, while sterling and the euro strengthened.
- US job openings fell more than expected in December, easing the dollar further.
- Back in London, Entain rose 6.2% after a positive outlook for its US betting joint venture, BetMGM.
- Vodafone shares slumped 7.8% due to continued struggles in Germany.
- Diageo removed medium-term guidance, citing weak demand and tariff uncertainty; its shares eased 1.6%.
- Wednesday's UK corporate calendar includes results from GSK and a trading statement from SSE.
LONDON MARKET MIDDAY: FTSE 100 under pressure amid tariff jitters
- London's FTSE 100 was in the red on Tuesday, with tariff worries weighing on the market.
- The pound remained flat against the US dollar, while the euro strengthened.
- Analysts at Lloyds Bank noted the uncertainty around Trump's tariff policies and their potential impact on Fed rate decisions.
- China announced retaliatory tariffs on US energy, vehicles, and equipment, escalating trade tensions.
- Diageo highlighted its contingency plans for potential US tariffs, which may impact its tequila and Canadian whisky businesses.
- Shares in Diageo fell 2.7% after the company removed its medium-term guidance due to macroeconomic and geopolitical uncertainty.
- VH Global Energy Infrastructure rose 5.5% as it expected no impact on its operations from potential US-Mexico trade curbs.
- Vodafone shares slumped 7.1% due to continued struggles in the German market.
- European markets in Frankfurt and Paris posted modest gains, supported by strong earnings reports.
- Gold prices remained elevated, trading above USD2,800 an ounce, as tariff uncertainty boosted demand for haven assets.
LONDON BROKER RATINGS: RBC raises Pennon; Redburn cuts Fevertree
- FTSE 100
- Goldman Sachs raises Ashtead Group price target to 6,650 (6,600) pence - 'neutral'
- JPMorgan places Barratt Redrow on 'positive catalyst watch' ahead of capital markets day
- Barclays cuts Reckitt to 'equal weight' (overweight) - price target 5,360 (5,530) pence
- Jefferies cuts Whitbread price target to 3,500 (3,600) pence - 'buy'
- Barclays raises Airtel Africa price target to 175 (125) pence - 'overweight'
- FTSE 250
- Jefferies cuts Essentra price target to 177 (185) pence - 'buy'
- Deutsche Bank cuts Jupiter Fund price target to 95 (100) pence - 'hold'
- Deutsche Bank cuts Deliveroo price target to 190 (200) pence - 'buy'
- RBC raises Pennon to 'outperform' (sector perform) - price target 600 (675) pence
- UBS cuts Pennon price target to 630 (666) pence - 'buy'
- Goldman Sachs cuts Pennon price target to 561 (639) pence - 'neutral'
- RBC cuts SSP to 'sector perform' (outperform) - price target 200 pence
- RBC cuts Wizz Air price target to 2,300 (2,500) pence - 'outperform'
- RBC raises Dunelm to 'outperform' (sector perform) - price target 1,175 pence
- SMALL CAP, AIM AND OTHER MAIN MARKET
- Redburn cuts Fevertree Drinks to 'sell' - price target 593 pence
- Jefferies raises Jet2 price target to 2,200 (1,800) pence - 'buy'
- Berenberg cuts YouGov price target to 760 (810) pence - 'buy'
- Deutsche Bank cuts Just Eat Takeaway price target to 16 (18.5) EUR - 'buy'
- JPMorgan raises Young & Co's to 'overweight' (neutral) - price target 1,240 pence
LONDON MARKET OPEN: FTSE 100 makes poor start amid US-China trade spat
- Stock prices in London opened tepidly on Tuesday, with the FTSE 100 and 250 indices falling, alongside declines in the AIM All-Share and Cboe UK indices.
- Currency markets saw little movement, with the pound and euro largely unchanged against the dollar.
- Trump delayed tariffs on Mexico and Canada, citing deals to tighten border measures, but tensions with China escalated as Beijing announced retaliatory tariffs on US imports.
- Oil prices dipped, while gold traded lower after spiking above USD2,830 an ounce on Monday due to tariff uncertainty.
- UK Prime Minister Keir Starmer affirmed the country's commitment to working with both the US and EU, amid concerns of a potential trade war.
- Diageo shares declined 2.8% as the company reported a fall in half-year earnings, impacted by foreign exchange developments and slower recovery in key markets.
- Vodafone shares slumped 6.0% due to ongoing struggles in the German market.
- Recruiter Staffline jumped 32% on expectations of annual profit exceeding market forecasts.
LONDON MARKET EARLY CALL: FTSE 100 to fall amid US-China trade fear
- London's FTSE 100 is expected to open lower on Tuesday due to ongoing trade tensions.
- Asian stocks showed some improvement despite China's retaliatory tariffs on US imports.
- The pound, euro, and yen weakened against the US dollar.
- Trump delayed tariffs on Mexico and Canada after reaching deals to address migration and drug issues.
- China imposed tariffs on US coal and LNG, along with other goods, in response to US tariffs.
- Commerzbank analyst Antje Praefcke highlighted the unpredictable nature of Trump's trade policies and their impact on the USD.
- Stock markets in Hong Kong and Tokyo saw gains, while Sydney's S&P/ASX 200 fell slightly.
- Brent crude oil price dipped, and gold traded lower after reaching a record high on Monday.
- In the US, the Dow Jones, S&P 500, and Nasdaq Composite all closed lower on Monday.
- Tuesday's economic calendar includes US factory order data, and UK corporate results from Diageo, Vodafone, and Crest Nicholson.
- Google owner Alphabet, Advanced Micro Devices, and PepsiCo are also due to report results, while Swiss bank UBS reported Q4 earnings growth and announced a share buyback program.
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