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LONDON MARKET CLOSE: FTSE 100 pushes above 8,800 amid services rebound
- London stocks rose on Wednesday, with the FTSE 100 and 250 both ending the day higher, alongside gains for the AIM All-Share, Cboe UK indices, and European equities.
- The improvement in sentiment came as a survey showed the UK services sector returned to growth in May, with the S&P Global UK services PMI rising above the key 50.0 threshold.
- US stocks also climbed, despite weak economic data, including a slower-than-expected rise in private sector employment in May, raising concerns about the impact of tariff uncertainty.
- President Trump called on the US central bank to lower interest rates, while also citing the weak ADP jobs report.
- The pound was stronger against the dollar and euro, while the yield on US Treasuries narrowed. Oil prices fell, while gold prices rose.
- On the FTSE 100, Babcock International gained on the back of the UK defence spending review, while Marks & Spencer and BP were among the fallers.
- Thursday's calendar includes results from Wise Group, Dr Martens, Wizz Air, and Mitie, alongside an interest rate decision from the ECB and US trade data.
LONDON MARKET MIDDAY: Stocks higher as US, China tensions continue
- London stock prices rose on Wednesday amid hopes for reduced trade tensions between the US and China following a potential meeting between Trump and Xi.
- Trump's recent remarks and tariff increases on steel and aluminium have caused uncertainty in the market, with Mould of AJ Bell commenting on the potential for a stalemate.
- The FTSE 100, 250, and AIM All-Share indexes were up, with strength in basic materials, industrials, and real estate.
- Large-cap winners included Antofagasta, Melrose Industrial, and Spirax, while Haleon and Marks & Spencer lagged.
- WH Smith reported growth in its travel business, with Mould noting the update provides a clearer picture of the slimmed-down company's potential.
- B&M European Value Retail attributed its profit fall to challenging market conditions, but Mould suggests its value-led model should have thrived.
- Shuka Minerals rose sharply on news of its interim authorisation to take over Leopard Exploration & Mining, while 4Global announced plans to delist from AIM.
- European equities were also up, with the CAC 40 and DAX 40 seeing gains. The pound and dollar strengthened against the euro and yen, respectively.
- US stocks were called higher, while the yield on the US 10-year Treasury narrowed slightly. Brent oil prices dipped, and gold prices rose.
- The economic calendar for Wednesday includes US composite and ISM services PMI readings, as well as the Bank of Canada's interest rate decision.
LONDON BROKER RATINGS: RBC cuts MJ Gleeson; UBS cuts IG Group
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- Wednesday 4th Jun 2025 09:32
- The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:
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- FTSE 100
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- RBC raises Endeavour Mining to 'outperform' (sector perform) - price target 3,000 (2,350) pence
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- UBS raises Hiscox price target to 1,595 (1,450) pence - 'buy'
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- Citigroup raises Standard Chartered target to 1,145 (1,115) pence - 'neutral'
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- Citigroup cuts NatWest price target to 630 (635) pence - 'buy'
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- Citigroup raises Lloyds Banking price target to 75 (71) pence - 'neutral'
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- Citigroup cuts HSBC price target to 970 (990) pence - 'buy'
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- Citigroup raises Barclays price target to 360 (345) pence - 'buy'
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- RBC cuts Rio Tinto price target to 4,900 (5,300) pence - 'sector perform'
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- JPMorgan cuts Rio Tinto price target to 5,580 (5,920) pence - 'overweight'
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- RBC cuts Glencore price target to 380 (400) pence - 'outperform'
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- RBC raises Antofagasta price target to 1,800 (1,700) pence - 'sector perform'
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- JPMorgan places Antofagasta on 'analyst focus list' & 'positive catalyst watch'
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- RBC cuts Anglo American price target to 1,970 (2,464) pence - 'sector perform'
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- RBC raises Fresnillo price target to 1,200 (955) pence - 'sector perform'
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- Goldman Sachs cuts Auto Trader group price target to 756 (777) pence - 'sell'
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- Barclays raises Land Securities price target to 780 (760) pence - 'overweight'
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- JPMorgan places Babcock International on 'positive catalyst watch'
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- FTSE 250
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- UBS cuts IG Group to 'neutral' (buy) - price target 1,200 (1,150) pence
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- Citigroup reinitiates Johnson Matthey with 'neutral' - price target 1,800 pence
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- RBC raises Hochschild Mining price target to 360 (280) pence - 'outperform'
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- Jefferies raises Paragon Banking price target to 930 (815) pence - 'hold'
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- Deutsche Bank Research raises Serco price target to 210 (190) pence - 'hold'
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- Barclays raises Hammerson price target to 260 (245) pence - 'underweight'
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- Barclays raises British Land Co price target to 460 (447) pence - 'equal weight'
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- SMALL CAP
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- Jefferies raises Judges Scientific to 'buy' (hold) - price target 9,100 (8,500) pence
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- Jefferies raises AB Dynamics to 'hold' (underperform) - price target 1,620 (1,660) pence
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- RBC cuts MJ Gleeson to 'underperform' (sector perform) - price target 425 (650) pence
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- RBC raises Jubilee Metals price target to 7,30 (7,10) pence - 'outperform'
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- RBC raises Ecora Resources price target to 130 (120) pence - 'outperform'
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- Related Shares:
LONDON MARKET OPEN: Stocks up ahead of composite PMI releases
- London stock prices opened higher on Wednesday, with the FTSE 100 and 250 indices seeing gains, following news of a reduction in US tariffs on UK steel and aluminium.
- The Trump administration has ordered a 25% tariff rate on UK imports, providing a temporary reprieve for the UK.
- UK Chancellor Rachel Reeves is set to announce a £15.6 billion investment package for public transport in the North and Midlands.
- Miners led the FTSE 100, with Babcock International seeing the largest rise, while Ninety One climbed 6.2% on the FTSE 250, despite a dip in pre-tax profits.
- GENinCode, a genomic testing company, saw a 20% rise in share price after reporting narrowed pre-tax losses and increased revenue for 2024.
- European equities also saw gains, with the CAC 40 and DAX 40 up 0.3% and 0.5% respectively, while the Nikkei 225 and Shanghai Composite indices were up 0.8% and 0.4% in Asia.
- Wall Street ended higher on Tuesday, with the Dow Jones, S&P 500 and Nasdaq Composite all seeing gains.
- The pound was higher against the dollar early on Wednesday, while the euro remained flat; gold and oil prices also saw gains.
- The economic calendar for Wednesday includes composite PMI releases from the eurozone, US, UK and other regions.
LONDON MARKET EARLY CALL: Stocks up Fed officials warn on inflation
- London stocks are expected to open higher on Wednesday, as the UK is exempted from US tariffs on steel and aluminium.
- US Federal Reserve Governor Lisa Cook warned of rising inflation and a cooling jobs market, suggesting a challenging environment for monetary policymakers.
- Futures predict a 0.1% increase in the FTSE 100 opening, following a 0.2% gain on Tuesday.
- Sterling strengthened against the US dollar, while the euro weakened.
- The dollar strengthened against the yen.
- US stocks ended higher on Tuesday, with gains across the Dow Jones, S&P 500, and Nasdaq Composite.
- Asian markets were positive on Wednesday, with gains in Tokyo, Shanghai, Hong Kong, and Sydney.
- Gold prices rose slightly, while Brent oil prices dipped.
- Corporate calendar highlights include full-year results from discoverIE and Ninety One.
- The economic calendar features composite PMI releases from the UK, US, and Germany.
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