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LONDON MARKET CLOSE: FTSE up despite Whitbread fall, lacklustre growth
- London Blue Chips: FTSE 100 closed up 0.1% at 9,436.09, despite sluggish economic growth and a 10% drop in Whitbread (Premier Inn owner).
- UK Economic Growth: August growth at 0.1%, with July revised down to a 0.1% decline. Manufacturing up 0.4%, construction down 0.3%, and services stagnant.
- Budget Concerns: Chancellor Rachel Reeves considers tax rises and spending cuts to address a £22 billion public finance shortfall, as estimated by the Institute for Fiscal Studies.
- Currency Movements: Pound higher at $1.3429, euro at $1.1671, and dollar lower at ¥150.83 against the yen.
- European Equities: CAC 40 up 1.4%, DAX 40 up 0.4%. Nestle surged 9.3% after announcing job cuts and cost-saving measures, with Q3 organic growth at 4.3%.
- US Markets: Dow Jones flat, S&P 500 up 0.1%, Nasdaq up 0.3%. US 10-year Treasury yield at 4.03%, 30-year at 4.62%.
- Whitbread Performance: Shares down 10% due to lower earnings, higher debt, and economic uncertainty, despite improved trading at Premier Inn.
- Other FTSE 100 Movers: Croda up 8.5% on unchanged guidance, Centrica up 3.0% on Barclays upgrade. Insurers weak: Admiral down 2.4%, Phoenix Group down 2.2%, Aviva down 1.6%.
- Commodities: Gold hit a record high at $4,270.73/ounce. Brent oil down to $61.70/barrel despite warnings of a global oil shortage from Saudi Aramco CEO Amin Nasser.
- Upcoming Data: Eurozone CPI and US industrial production figures scheduled for Friday.
LONDON MARKET MIDDAY: FTSE underperforms, pound shakes off tepid data
- Date and Time: 16th Oct 2025, 12:15
- Market Performance:
- London stocks struggled due to weak UK GDP data.
- FTSE 100 down 0.1% at 9,412.89; FTSE 250 down 0.2% at 21,971.86; AIM All-Share up 0.2% at 788.83.
- European markets performed better: CAC 40 (Paris) up 0.7%; DAX 40 (Frankfurt) up 0.2%.
- US equities set to open higher: Dow Jones and S&P 500 up 0.4%; Nasdaq up 0.6%.
- Economic Indicators:
- UK GDP grew 0.1% in August, but July’s reading revised down to -0.1%.
- S&P Global forecasts UK GDP growth at 1.4% in 2025 and 1.0% in 2026.
- US 10-year Treasury yield unchanged at 4.02%; 30-year yield at 4.61%.
- Currency Movements:
- Sterling rose to USD1.3436; Euro up to USD1.1654; USD/JPY flat at 151.20.
- Commodities:
- Gold hit a new record high above USD4,243/ounce, up to USD4,239.37.
- Brent oil slightly down to USD62.16/barrel.
- Corporate News:
- Croda: Shares up 3.6%; Q3 sales rose 4.4% YoY to GBP424.7 million; annual outlook unchanged.
- Whitbread: Shares plunged 9.6%; H1 pretax profit down 7.1% to GBP287 million; revenue declined 1.8% to GBP1.54 billion; lowered profit guidance for German business.
- AstraZeneca: Shares down 0.9%; downgraded to 'sell' by Deutsche Bank.
- Filtronic: Shares up 4.8%; Berenberg initiated coverage with a 'buy' rating.
- Geopolitical Developments:
- US-China trade tensions escalated; Trump threatened to terminate cooking oil purchases from China.
- Beijing criticized US export controls and port fees as "profoundly detrimental" to trade talks.
- French PM Sebastien Lecornu survived two confidence motions after suspending pension reform.
LONDON BROKER RATINGS: AstraZeneca cut; Barclays raises Centrica
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- 16th Oct 2025 09:35
- The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:
-
FTSE 100
- Deutsche Bank Research cuts AstraZeneca to 'sell' (hold) - price target 10,500 (11,000) pence
- Goldman Sachs raises Entain price target to 1,100 (1,080) pence - 'buy'
- Deutsche Bank Research raises Entain price target to 1,158 (1,122) pence - 'buy'
- JPMorgan raises Entain price target to 1,150 (1,110) pence - 'neutral'
- Barclays raises Centrica to 'overweight' (equal weight) - price target 210 (180) pence
-
FTSE 250
- Deutsche Bank Research cuts Morgan Advanced price target to 205 (235) pence - 'hold'
-
SMALL CAP
- Berenberg starts Filtronic with 'buy' - price target 196 pence
- Berenberg cuts Sabre Insurance price target to 190 (200) pence - 'buy'
- RBC cuts Brooks Macdonald price target to 1,850 (1,900) pence - 'sector perform'
- Related Shares:
LONDON MARKET OPEN: Stocks fall on US-China tension; Whitbread slumps
- European Stock Markets: Opened lower due to US-China tensions; FTSE 100 down 0.2%, FTSE 250 down 0.2%, CAC 40 down 0.2%, DAX 40 down 0.5%.
- Sterling: Strengthened to USD1.3426 despite mixed UK GDP report, which showed minor 0.1% growth in August but downward revision for July.
- US-China Tensions: US Treasury Secretary Scott Bessent criticized China's rare earth export curbs, vowing to de-risk supply chains; Trump threatened 100% tariffs on Chinese goods from November 1.
- Global Markets: Shanghai Composite up 0.1%, Hang Seng down 0.1%, Nikkei 225 up 1.3%, S&P/ASX 200 up 0.9%; US markets mixed with S&P 500 up 0.4% and Nasdaq up 0.7%.
- Commodities: Gold rose to USD4,229.71/ounce, Brent crude up to USD62.64/barrel.
- Corporate Updates:
- Whitbread: Shares down 9.4%; H1 pretax profit fell 7.1% to GBP287 million, revenue down 1.8% to GBP1.54 billion; lowered expectations for German business.
- Croda: Shares up 2.4%; Q3 sales improved 4.4% to GBP424.7 million, maintained full-year outlook despite challenging environment.
- Sabre Insurance: Shares up 4.2%; gross written premiums down 19% year-to-date but seeing signs of moderating claims inflation.
- Analyst Commentary: Rabobank noted the impact of US-China trade war and government shutdown on markets, questioning sustainability of stock gains.
LONDON MARKET EARLY CALL: FTSE 100 to fall; UK economic data ahead
- London Stocks: Set to open lower on Thursday, with FTSE 100 futures indicating a 0.2% decline to 9,401.95, amid US-China trade tensions and ahead of UK GDP data for August.
- Currency Movements: Sterling rose to USD1.3418, euro to USD1.1658, and yen strengthened to JPY151.11 against the USD.
- UK GDP Forecast: Expected to rise 0.1% month-on-month in August, after stagnating in July.
- US Treasury Yields: 10-year yield widened to 4.03% and 30-year to 4.62%.
- Global Markets: Mixed performance; Dow Jones marginally lower, S&P 500 +0.4%, Nasdaq +0.7%. Shanghai Composite -0.2%, Hang Seng -0.7%, Nikkei +1.2%, S&P/ASX 200 +0.9%.
- US-China Trade Tensions: US Treasury Secretary Scott Bessent criticized China's rare earth export curbs, vowing to de-risk and diversify supply chains away from China.
- Trade War Concerns: President Trump confirmed ongoing trade war with China, threatening additional 100% tariffs on Chinese goods from November 1.
- Commodities: Gold rose to USD4,209.81/ounce, Brent crude to USD62.29/barrel.
- Economic Calendar: UK GDP and trade data, Philadelphia Fed manufacturing index, and corporate updates from Croda, Whitbread, and Travis Perkins.
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