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LONDON MARKET CLOSE: FTSE 100 at new high amid US shutdown optimism
- FTSE 100 Hits All-Time High: Reached a record closing peak of 9,787.15, up 1.1%, and set a new intra-day high of 9,800.35 on Monday, 10th Nov 2025.
- US Government Shutdown Progress: US Senate cleared the way for a debate to end the longest shutdown in history, boosting market sentiment.
- European and US Markets: CAC 40 (+1.5%), DAX 40 (+1.7%), S&P 500 (+0.7%), and Nasdaq (+1.3%) all gained, while the Dow Jones was little changed.
- Currency Movements: Sterling at USD1.3160, Euro at USD1.1554, and Dollar higher against the Yen at JPY153.97.
- UK Budget Focus: Chancellor Rachel Reeves emphasized cost of living, reducing government debt, and cutting NHS waiting lists in the upcoming November budget.
- Corporate Highlights:
- Diageo (+5.2%) appointed Dave Lewis as CEO.
- Fresnillo (+5.4%) and Endeavour Mining (+4.5%) gained on higher gold prices.
- Entain (+3.0%) upgraded to 'buy' by Investec.
- RHI Magnesita (+17%) reported improved performance in H2 2025.
- JTC (-4.3%) agreed to a GBP2.7 billion takeover by Permira Advisers.
- Commodities: Gold at USD4,091.42/ounce, Brent oil slightly lower at USD63.45/barrel.
- Upcoming Data: UK jobs, average earnings, and British Retail Consortium's retail sales monitor on Tuesday.
- Corporate Results: Vodafone and DCC to release half-year results on Tuesday.
LONDON MARKET MIDDAY: FTSE climbs as US shutdown deal nears
- Date and Time: 10th Nov 2025, 12:23
- London Stock Market:
- FTSE 100 up 1.0% at 9,780.33, nearing record levels.
- FTSE 250 up 1.1% at 22,021.47.
- AIM All-Share up 1.3% at 759.35.
- Cboe UK indices also rose: UK 100 (+1.1%), UK 250 (+1.3%), Small Companies (+1.2%).
- European Markets:
- CAC 40 (Paris) up 1.3%.
- DAX 40 (Frankfurt) up 1.7%.
- US Government Shutdown:
- US Senate cleared way for debate to end the longest government shutdown in history.
- Procedural vote passed 60-40, limiting debate to 30 hours.
- Motion needs House approval before reaching President Trump, potentially taking several days.
- US Markets (Futures):
- Dow Jones up 0.4%.
- S&P 500 up 0.9%.
- Nasdaq Composite up 1.4%.
- US Treasury Yields:
- 10-year Treasury at 4.13% (up from 4.07%).
- 30-year Treasury at 4.73% (up from 4.68%).
- Airline Stocks:
- Rallied on hopes of shutdown resolution.
- IAG (British Airways, Iberia) up 3.2%.
- Air France-KLM up 4.4%, Lufthansa up 3.1%.
- Heathrow Expansion:
- British Airways CEO Sean Doyle supports avoiding M25 diversion for third runway.
- UK government considering two proposals: full-length runway (M25 diversion) vs. shorter runway (no diversion).
- Decision expected by end of November.
- Corporate News:
- Diageo up 7.2% after appointing Dave Lewis as CEO.
- Miners Fresnillo (+5.5%) and Endeavour Mining (+3.9%) gained on firmer gold prices (USD4,079.40/ounce).
- JTC down 5.1% after GBP2.7 billion takeover by Permira Advisers.
- Kainos up 1.1% despite profit fall, driven by higher revenue and bookings.
- Ferrexpo down 1.7% after suspending operations due to missile attack in Ukraine.
- Avingtrans up 7.5% after FDA clearance for 3D orthopaedic X-ray product.
- Commodities:
- Brent oil up slightly to USD63.71/barrel.
- Upcoming Data:
- UK unemployment and wage data on Tuesday.
- First estimate of UK Q3 GDP on Thursday.
LONDON MARKET EARLY CALL: FTSE 100 seen up on hopes of US shutdown end
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Market and Economic Summary - 10th Nov 2025 06:52
- London Stocks: Set to open higher, with FTSE 100 futures up 0.9% at 9,764.17, boosted by the end of the US government shutdown.
- US Government Shutdown: Ended after 40 days with a bipartisan stopgap agreement, funding the government through January.
- Currency Movements: Sterling slightly lower at USD1.3156, euro down to USD1.1562, and dollar strengthened to JPY154.00 against the yen.
- Global Markets: Positive tone in Asia with Nikkei up 1.3%, Shanghai Composite up 0.3%, Hang Seng up 1.4%, and S&P/ASX 200 up 0.8%.
- China Trade Developments: Suspended export ban on key industrial metals (gallium, germanium, antimony) until Nov 2026, following Xi-Trump meeting.
- Chip Exports: Partial resumption of Nexperia chip exports to Europe, easing concerns for carmakers after months-long standoff.
- EU Budget: European Commission President Ursula von der Leyen proposed amendments to the EU's long-term budget, including regional say and agricultural safeguards.
- Corporate News: Pfizer poised to acquire Metsera Inc for USD10 billion after Novo Nordisk withdrew from bidding.
- Commodities: Gold up to USD4,072.00/ounce, Brent oil at USD64.12/barrel.
- Upcoming Releases: Applied Nutrition, Caledonia Mining, Vaalco Energy, Kainos Group, and Kingspan Group to release financial results/statements.
- Economic Data: Ireland industrial production data due at 1100 BST.
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