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LONDON MARKET CLOSE: Stocks mixed ahead of Fed call, Trump-Xi talks
- London Stock Market:
- FTSE 100 closed up 0.6% at 9,756.14, led by Next (+8.8%) due to strong sales and special dividend plans.
- FTSE 250 ended down 0.2% at 22,448.27.
- AIM All-Share closed up 0.3% at 772.89.
- US Market:
- Dow Jones, S&P 500, and Nasdaq Composite all closed higher, with Nvidia (+2.7%) becoming the world's first $5 trillion company.
- Central Bank Decisions:
- Bank of Canada cut overnight rate by 25 basis points to 2.25%.
- Federal Reserve expected to cut rates by 25 basis points, with focus on Chair Jerome Powell's tone.
- European Central Bank likely to hold rates on Thursday.
- Global Events:
- Trump-Xi meeting expected to last three hours, with AI development and trade talks in focus.
- Nvidia CEO Jensen Huang to attend APEC summit sidelines in South Korea.
- Currency Movements:
- Pound lower at $1.3236, euro flat at $1.1660, and dollar slightly down against yen at ¥152.10.
- Commodities:
- Brent oil up to $64.52 per barrel, gold higher at $3,997.24 per ounce.
- Corporate Highlights:
- Banco Santander rose 4.3% on strong Q3 profits, but urged UK government to reconsider car finance redress scheme.
- Thursday's calendar includes ECB rate decision, eurozone economic data, and UK corporate results from Shell, Spectris, and Standard Chartered.
LONDON MARKET MIDDAY: FTSE 100 hits new record amid strong results
- Date and Time: 29th Oct 2025, 12:10
- FTSE 100 Performance:
- Up 72.49 points (0.8%) at 9,769.23, reaching a new intra-day record of 9,770.04.
- Outperformed European peers, driven by strong results from GSK and Next.
- Other UK Indices:
- FTSE 250 up 46.37 points (0.2%) at 22,530.49.
- AIM All-Share up 4.98 points (0.7%) at 775.77.
- European Markets:
- CAC 40 (Paris) marginally lower.
- DAX 40 (Frankfurt) down 0.1%.
- US-China Trade Optimism:
- Positive mood on Wall Street extended to Europe due to increased hopes for a US-China trade deal.
- US President Donald Trump expressed optimism about solving trade issues with Chinese leader Xi Jinping.
- Corporate Highlights:
- Next: Shares up 7.3%; raised full-year guidance due to strong overseas and UK sales growth.
- GSK: Shares up 2.2%; raised 2025 turnover growth forecast to 6%-7% after strong Q3 performance.
- Aston Martin Lagonda: Shares up 2.0%; tightened investment plans despite widened pretax loss and revenue drop.
- Smurfit WestRock: Shares down 5.0%; reported Q3 profit but lowered full-year guidance.
- Commodities and Currencies:
- Gold up at USD4,017.70/ounce.
- Brent oil down at USD64.03/barrel.
- Sterling down at USD1.3223; Euro lower at USD1.1640.
- Upcoming Events:
- US Federal Reserve interest rate decision expected later in the day.
- Earnings reports from Alphabet, Meta, and Microsoft.
- Small-Cap Movers:
- Ceres Power shares up 13% after UBS raised price target to 350p.
- 80 Mile shares up 14% following positive report on Greenland oil resources.
LONDON BROKER RATINGS: Berenberg says 'buy' Mears and 'hold' Capita
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- 29th Oct 2025 09:41
- The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:
- FTSE 100
- Citigroup raises HSBC price target to 1,240 (1,160) pence - 'buy'
- Barclays raises HSBC price target to 1,230 (1,200) pence - 'overweight'
- BofA raises HSBC price target to 1,160 (1,120) pence - 'neutral'
- Goldman Sachs raises Barclays price target to 505 (445) pence - 'buy'
- Citigroup raises London Stock Exchange price target to 13,300 (12,700) pence - 'buy'
- BofA raises Hiscox price target to 1,550 (1,450) pence - 'buy'
- Deutsche Bank Research raises Informa price target to 1,140 (1,000) pence - 'buy'
- BofA raises Informa price target to 1,120 (1,050) pence - 'buy'
- Citigroup raises 3i Group price target to 5,150 (5,000) pence - 'buy'
- Goldman Sachs raises Segro price target to 830 (730) pence - 'buy'
- UBS cuts Rightmove price target to 879 (987) pence - 'buy'
- FTSE 250
- BofA raises Lancashire Holdings price target to 755 (740) pence - 'buy'
- JPMorgan raises Vesuvius price target to 350 (330) pence - 'neutral'
- Berenberg raises Mitie price target to 210 (185) pence - 'buy'
- Berenberg raises Serco price target to 300 (270) pence - 'buy'
- Citigroup raises Currys price target to 166 (150) pence - 'buy'
- Barclays raises C&C Group price target to 185 (180) pence - 'overweight'
- UBS raises Softcat price target to 1,450 (1,400) pence - 'sell'
- SMALL CAP
- Jefferies cuts Synthomer price target to 62 (76) pence - 'hold'
- JPMorgan cuts Evoke price target to 66 (82) pence - 'neutral'
- Berenberg starts Capita with 'hold' - price target 350 pence
- Berenberg starts Mears with 'buy' - price target 550 pence
- Goldman Sachs cuts Flutter Entertainment price target to 24,550 (25,300) pence - 'buy'
- Deutsche Bank cuts RWS price target to 175 (195) pence - 'buy'
- Davy raises SigmaRoc price target to 148 (105) pence - 'outperform'
- UBS raises Ceres Power price target to 350 (120) pence - 'buy'
- Related Shares:
LONDON MARKET OPEN: FTSE 100 hits high as Next and GSK raise guidance
- London Stock Market:
- FTSE 100 opened higher, up 0.4% at 9,736.20, hitting a new intra-day record of 9,739.18.
- FTSE 250 and AIM All-Share also opened higher, up 0.03% and 0.5% respectively.
- Glencore led the FTSE 100 with a 6.2% jump after tightening annual production guidance.
- Next climbed 4.9% after raising full-year pretax profit guidance to GBP1.14 billion.
- GSK rose 3.7% after upgrading its 2025 guidance with strong sales and profit growth.
- Global Markets:
- US President Donald Trump expressed optimism about resolving trade issues with China, boosting global markets.
- Asian markets: Nikkei 225 up 2.2%, Shanghai Composite up 0.7%, Hang Seng closed for a holiday.
- European equities mixed: CAC 40 down 0.1%, DAX 40 up 0.1%.
- Currencies and Commodities:
- Sterling down to USD1.3213, Euro lower at USD1.1629, Dollar higher against the Yen at JPY152.27.
- Gold up to USD4,011.00 per ounce, Brent oil down to USD63.48 per barrel.
- Corporate Updates:
- Elementis shares down 1.4% despite meeting market expectations for the full year.
- WH Smith shares down 1.5% after delaying full-year results to December 16.
- Artemis Resources shares up 13% after reporting a high-grade gold intersection.
- Hargreaves Services down 4.2% despite in-line performance across all units.
- Upcoming Events:
- Key earnings reports from Meta Platforms, Microsoft, and Alphabet after the New York close.
- Interest rate decisions in the US and Canada.
- UK mortgage approvals data expected shortly.
LONDON MARKET EARLY CALL: FTSE 100 seen flat after record close
- London Stocks: Set to open marginally lower on Wednesday after a record close on Tuesday, with FTSE 100 futures indicating a 0.6-point rise to 9,697.34.
- Currency Movements: Sterling down to USD1.3232, euro lower at USD1.1629, and dollar higher against the yen at JPY152.20.
- US-China Trade Talks: President Trump optimistic about solving "a lot of problems" with Chinese leader Xi Jinping, including lowering tariffs on China related to fentanyl.
- US Treasury Yields: 10-year yield unchanged at 3.98%, 30-year yield slightly down to 4.54%.
- Global Markets: Wall Street ended higher on Tuesday; Asian markets mixed on Wednesday with Nikkei up 2.2%, Shanghai Composite up 0.6%, and S&P/ASX 200 down 1.0%.
- Earnings Reports: Visa increased quarterly dividend by 14% after beating revenue expectations; Meta, Microsoft, and Alphabet set to report earnings after the New York close.
- Commodities: Gold higher at USD3,978.30/ounce, Brent oil lower at USD63.95/barrel.
- Economic Events: Interest rate decisions expected in the US (25 bps cut) and Canada (25 bps cut), plus UK mortgage approvals data.
- UK Corporate Calendar: Third-quarter results from GSK, trading statements from Glencore and Next.
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