Market News Feed
AI Daily 5 entries
LONDON MARKET CLOSE: FTSE 100 down as US jobs market stalls in August
- The FTSE 100 closed 0.1% lower on Friday, giving back early gains, as a weak US jobs report raised concerns about the world's largest economy.
- The FTSE 250 and AIM All-Share ended the day higher, up 0.5% and 0.2% respectively, but all three major UK indices posted modest weekly gains.
- In the US, the Dow Jones, S&P 500, and Nasdaq were down between 0.5% and 0.7% at the London equities market close.
- A weak US jobs report raised concerns about the labour market, with nonfarm payroll employment increasing by 22,000 in August, below expectations, and the unemployment rate edging up to 4.3%.
- The Federal Reserve is now expected to cut interest rates by 75 basis points this year, with two quarter-point cuts predicted in September and December.
- The pound strengthened against the dollar, while bond yields eased; the dollar weakened against the euro and yen.
- In UK politics, Keir Starmer reshuffled his front bench after Angela Raynor's resignation for breaching the ministerial code; reports suggest Rachel Reeves will remain as chancellor.
- Housebuilder Berkeley Group's shares rose 3.0% after it welcomed the UK government's planning reform stance and confirmed its profit guidance.
- Other housebuilders also saw gains, while Aviva climbed 1.6% after Goldman Sachs restarted coverage with a 'buy' rating; however, Admiral fell 3.0% after a downgrade from Peel Hunt.
- A drop in oil prices weighed on BP and Shell, while Next rose 0.8% after strong UK retail sales data for July.
LONDON MARKET MIDDAY: London stocks up; UK Deputy PM Rayner quits
- London stocks were positive around midday on Friday, with the FTSE 100 and 250 indices seeing modest gains.
- Angela Rayner announced her resignation as UK Deputy Prime Minister and Deputy Leader of the Labour Party.
- UK Investment Minister, Baroness Poppy Gustafsson, is also reportedly stepping down from her role.
- European equities were mixed, with the CAC 40 in Paris slightly higher and the DAX 40 in Frankfurt advancing by 0.2%.
- The pound strengthened against the US dollar and euro, while the dollar weakened against the yen.
- Adnams, a brewer and hotelier, saw its shares drop 27% after reporting a decline in revenue and a pretax loss.
- PPHE Hotel, a hotel operator, rose 1.8% after acquiring a development site in London for GBP17.5 million.
- Metals One gained 7.0% after acquiring a strategic stake in Evolution Energy Minerals Ltd.
- Stocks in New York were called mixed, with the S&P 500 and Nasdaq Composite expected to open slightly higher.
- Beijing "strongly opposes" calls for economic pressure on China, made by US President Trump in relation to the Ukraine war.
- China's commerce ministry will impose temporary duties on EU pork imports, citing evidence of dumping.
- Oil prices slid, with Brent crude quoted lower, amid expectations of an OPEC production increase.
- Gold prices edged higher.
LONDON BROKER RATINGS: Peel Hunt cuts Admiral; Kepler lowers Genus
- FTSE 100
- UBS raises British American Tobacco price target to 5,200 (4,800) pence - 'buy'
- UBS raises Imperial Brands price target to 3,600 (3,150) pence - 'buy'
- Barclays raises Admiral price target to 3,660 (3,610) pence - 'overweight'
- Peel Hunt cuts Admiral to 'sell' (reduce) - price target 2,350 (2,270) pence
- Panmure Liberum raises Smiths Group price target to 2,760 (2,560) pence - 'buy'
- JPMorgan raises Babcock International price target to 1,450 (1,370) pence - 'overweight'
- Berenberg raises Babcock International price target to 1,360 (1,350) pence - 'buy'
- Barclays raises St James's Place price target to 1,530 (1,400) pence - 'overweight'
- Barclays raises Hiscox price target to 1,510 (1,400) pence - 'overweight'
- Barclays raises Beazley price target to 980 (950) pence - 'overweight'
- Goldman Sachs reinitiates Aviva with 'buy' - price target 736 pence
- Barclays raises Aviva price target to 676 (660) pence - 'equal weight'
- Panmure Liberum raises Phoenix price target to 880 (743) pence - 'buy'
- Barclays raises Phoenix price target to 590 (570) pence - 'underweight'
- JPMorgan raises Prudential price target to 1,200 (1,150) pence - 'overweight'
- Barclays raises Prudential price target to 1,157 (1,090) pence - 'overweight'
- Exane BNP raises HSBC to 'outperform' (underperform) - price target 1,100 (880) pence
- Exane BNP cuts NatWest to 'underperform' (neutral) - price target 520 (570) pence
- Jefferies raises Entain price target to 1,200 (1,140) pence - 'buy'
- Barclays cuts Pearson price target to 1,150 (1,160) pence - 'equal weight'
- FTSE 250
- Barclays raises HarbourVest Global Private Equity to 'overweight' - price target 3,470 pence
- Barclays cuts Derwent London price target to 1,640 (1,820) pence - 'underweight'
- Barclays raises Great Portland Estates price target to 290 (280) pence - 'underweight'
- Barclays cuts NB Private Equity Partners to 'underweight' - price target 1,510 (1,790) pence
- Barclays cuts HgCapital Trust to 'equal weight' - price target 570 (600) pence
- Barclays cuts Pantheon International price target to 405 (420) pence - 'overweight'
- Barclays cuts Apax Global Alpha to 'equal weight' - price target 165 (181) pence
- Barclays cuts Lancashire price target to 640 (660) pence - 'equal weight'
- RBC raises Chesnara price target to 335 (320) pence - 'outperform'
- Barclays cuts Workspace Group price target to 475 (525) pence - 'overweight'
- Kepler Cheuvreux cuts Genus to 'hold' (buy) - price target 2,700 (2,075) pence
- JPMorgan cuts WH Smith price target to 900 (1,550) pence - 'overweight'
- SMALL CAP
- Barclays cuts BHP Group price target to 2,300 (2,350) pence - 'equal weight'
- Deutsche Bank Research cuts Jet2 price target to 2,059 (2,150) pence - 'buy'
- Panmure Liberum cuts Jet2 price target to 1,800 (1,920) pence - 'buy'
- Barclays raises Oakley Capital Investments price target to 725 (660) pence - 'overweight'
- Barclays initiates Conduit with 'underweight' - price target 280 pence
- Barclays raises Sabre Insurance price target to 178 (174) pence - 'overweight'
- Berenberg cuts CLS price target to 85 (100) pence - 'buy'
LONDON MARKET OPEN: European stocks rise as UK retail sales speed up
- European stocks started Friday with gains, with the FTSE 100, FTSE 250, and AIM All-Share indices all opening higher.
- UK retail sales exceeded expectations in July, rising by 0.6%, but annual sales fell short of consensus.
- The CAC 40 and DAX 40 also saw gains, while the pound, euro, and yen strengthened against the dollar.
- Average UK house prices reached a record high in August, according to Halifax, rising by 0.3% to £299,331.
- Ashmore Group's shares fell 7.3% at the London market open due to net outflows, while Gear4music jumped 11% after a strong first quarter.
- Peel Hunt's shares rose 11% after a strong start to their financial year, supported by M&A transactions and equity capital markets activity.
- Asian markets closed higher on Friday, with the Nikkei 225, Shanghai Composite, Hang Seng, and S&P/ASX 200 all seeing gains.
- Wall Street ended Thursday in positive territory, with the Dow Jones, S&P 500, and Nasdaq Composite all rising.
- US Treasury yields narrowed, while Brent oil and gold prices saw minor changes.
- The economic calendar for Friday includes Irish unemployment data and US nonfarm payrolls figures.
LONDON MARKET EARLY CALL: FTSE 100 called up as retail footfall sinks
- UK stocks were set to open higher on Friday, with the FTSE 100 expected to gain 0.2% at the open.
- Retail footfall in the UK declined by 0.4% in August compared to the previous year, according to data from BRC-Sensormatic.
- The British Retail Consortium called on the government to reduce business rates for retail and hospitality businesses.
- Sterling and the euro were both higher against the US dollar early Friday.
- Average rents in Britain hit a record high of £1,577 per month in August, according to Rightmove.
- UK businesses spent an average of £236,000 on artificial intelligence in the past year, with larger companies investing significantly more, according to a Barclays survey.
- Wall Street ended in positive territory on Thursday, with the Dow Jones, S&P 500, and Nasdaq all posting gains.
- Asian markets were also higher on Friday, with the Nikkei 225, Shanghai Composite, Hang Seng, and S&P/ASX 200 all posting gains.
- US President Donald Trump signed an order to lower tariffs on Japanese autos to 15% as part of the trade pact with Tokyo.
- In the corporate calendar, housebuilder Berkeley Group and investment firm Ashmore are due to report.
- Economic data releases include the Halifax UK house price index, UK retail sales figures, and US nonfarm payrolls.
All Market News Today 463 headlines
IGET
15:33
Invesco Perpetual Select Trust plc - Global Equity Income Share Portfolio
0QZ3
14:26
0QZ3
DORE
14:26
Downing Renewables & Infrastructure Trust PLC
FGEN
06:01
Foresight Environmental Infrastructure Limited
