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LONDON MARKET CLOSE: Miners drive FTSE 100 up despite Fed probe worry
- FTSE 100 Performance: Closed up 16.10 points (0.2%) at 10,140.70, nearing recent record levels.
- FTSE 250 & AIM All-Share: FTSE 250 ended marginally up at 23,036.86; AIM All-Share up 0.8% at 796.86.
- Cboe Indices: Cboe UK 100 up 0.1%, Cboe UK 250 down 0.1%, Cboe Small Companies down 0.3%.
- US Federal Reserve Concerns: Chair Jerome Powell revealed DOJ subpoenas threatening criminal indictment, citing Fed’s independence in setting interest rates.
- Market Reaction: Analysts noted higher Treasury yields, steeper yield curve, weaker dollar, and gold rally amid Fed independence worries.
- Gold Price: Hit a new record high of USD4,621.38 per ounce, up from USD4,504.56 on Friday.
- FTSE 100 Movers: Fresnillo (+6.5%), Endeavour Mining (+4.2%), and Glencore (+3.5%) rose; Barclays (-2.5%), Mondi (-2.5%), and Ashtead Group (-2.9%) fell.
- European Equities: CAC 40 down slightly; DAX 40 up 0.6%, setting a new all-time high.
- US Stocks: Mixed performance with Dow Jones (-0.2%), S&P 500 flat, and Nasdaq (+0.2%).
- Currency Movements: Pound up to USD1.3468, euro higher at USD1.1677, dollar slightly up against yen at JPY158.12.
- Brent Oil: Traded at USD63.55 per barrel, up from USD63.42 on Friday.
- FTSE 250 Highlights: Oxford Nanopore (+9.4%) and Plus 500 (+5.4%) rose on positive trading updates.
- Upcoming Events: Tuesday features half-year results from Games Workshop, trading statements from Persimmon and PageGroup, and US inflation figures.
LONDON MARKET MIDDAY: Stocks lower as Trump's Fed threat hits dollar
- Date and Time: 12th Jan 2026, 12:20
- London Stock Market:
- FTSE 100 marginally lower by 0.80 points at 10,123.80.
- FTSE 250 down 0.3% at 22,964.60.
- AIM All-Share up 0.6% at 795.11.
- Miners led FTSE 100 gains, with Fresnillo up 7.2%, Endeavour Mining up 3.0%, and Glencore up 2.2% due to rising gold prices.
- Barclays fell 3.5%, the biggest decliner, due to potential exposure to credit card interest rate caps.
- European Equities:
- CAC 40 in Paris down 0.3%.
- DAX 40 in Frankfurt up 0.3%.
- US Market:
- Dollar slipped against major currencies.
- Stock futures slid more than European and UK declines.
- Dow Jones, S&P 500, and Nasdaq Composite called down 0.7%, 0.6%, and 0.9% respectively.
- US 10-year Treasury yield widened to 4.20%, 30-year to 4.87%.
- Federal Reserve Inquiry:
- US prosecutors opened an inquiry threatening a criminal indictment against the Federal Reserve.
- Fed Chair Jerome Powell confirmed grand jury subpoenas related to congressional testimony on Fed headquarters renovation.
- Powell linked the probe to broader attacks by the Trump administration on Fed's interest rate policy.
- Gold Market:
- Gold hit a record high of over USD4,600 per ounce, driven by geopolitical tensions and Fed independence concerns.
- Quoted at USD4,585.50 an ounce, up from USD4,504.56.
- Currency Movements:
- Pound up to USD1.3459 from USD1.3407.
- Euro up to USD1.1678 from USD1.1631.
- Dollar down against yen at JPY157.95 from JPY158.06.
- Oil Markets:
- Brent oil down to USD62.91 a barrel from USD63.42.
- Focus on Venezuela and Iran amid political and security tensions.
- Trump urged US oil companies to invest USD100 billion in Venezuela.
- Corporate Highlights:
- Oxford Nanopore up 8.1% on 2025 revenue growth forecast of 22%-24%.
- Plus500 rose 1.5% on forecast-topping 2025 results and shareholder return plans.
- IQE shares surged 40% on strong H2 2025 trading, driven by defense and handset demand.
- Economic Calendar: Germany's current account data pending.
LONDON BROKER RATINGS: Morgan Stanley cuts Mondi; BofA cuts Ashtead
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- 12th Jan 2026 10:18
- The following London-listed shares received analyst recommendations Monday morning and on Friday:
- FTSE 100
- Morgan Stanley raises Auto Trader to 'equal-weight' (underweight) - price target 650 (710) pence
- Berenberg cuts Auto Trader price target to 665 (830) pence - 'hold'
- Morgan Stanley cuts Rightmove to 'underweight' (equal weight) - price target 510 (815) pence
- Morgan Stanley cuts Beazley price target to 930 (960) pence - 'overweight'
- Morgan Stanley cuts M&G to 'equal-weight' (overweight) - price target 285 (254) pence
- Exane BNP cuts Prudential to 'neutral' (outperform)
- Morgan Stanley raises Prudential target to 1,270 (1,150) pence - 'overweight'
- Jefferies raises Anglo American price target to 3,700 (3,500) pence - 'buy'
- Jefferies raises Glencore price target to 550 (475) pence - 'buy'
- Jefferies raises Antofagasta price target to 3,600 (3,000) pence - 'hold'
- Citigroup starts Pearson with 'buy' - price target 1,300 pence
- Citigroup starts Informa with 'neutral' - price target 975 pence
- Citigroup starts Relx with 'neutral' - price target 3325 pence
- UBS raises Sage Group to 'buy' - price target 1,425 pence
- Morgan Stanley cuts Mondi to 'underweight' - price target 800 pence
- Deutsche Bank Research cuts Haleon to 'sell' - price target 340 pence
- Berenberg raises Babcock International target to 1,670 (1,440) pence - 'buy'
- JPMorgan raises BAE Systems price target to 2,400 (2,200) pence - 'overweight'
- Berenberg raises BAE Systems price target to 2,000 (1,850) pence - 'hold'
- Bernstein raises Next to 'outperform' (market-perform) - price target 16,000 (11,500) pence
- Bernstein cuts AB Foods to 'market-perform' (outperform) - price target 1,800 (3,100) pence
- RBC cuts AB Foods price target to 2,050 (2,400) pence - 'sector perform'
- Bernstein cuts JD Sports Fashion price target to 100 (160) pence - 'outperform'
- Bernstein raises Tesco price target to 490 (480) pence - 'outperform'
- RBC cuts Tesco price target to 440 (445) pence - 'sector perform'
- RBC cuts Sainsbury price target to 375 (380) pence - 'outperform'
- Citigroup cuts Sainsbury price target to 360 (366) pence - 'buy'
- Barclays raises Coca-Cola HBC price target to 4,700 (4,500) pence - 'overweight'
- Deutsche Bank Research cuts 3i Group price target to 4,200 (4,300) pence - 'buy'
- Deutsche Bank Research raises Weir Group price target to 3,280 (3,140) pence - 'buy'
- BofA cuts Ashtead Group to 'underperform' (neutral) - price target 4,700 (4,900) pence
- FTSE 250
- Jefferies cuts Travis Perkins price target to 531 (535) pence - 'underperform'
- Citigroup starts WPP with 'neutral' - price target 365 pence
- Berenberg cuts Chemring Group price target to 590 (630) pence - 'buy'
- JPMorgan raises Qinetiq price target to 565 (540) pence - 'overweight'
- SMALL CAP
- Berenberg raises Kistos price target to 285 (280) pence - 'buy'
LONDON MARKET OPEN: Stocks slip as Fed independence concerns weigh
- Stock Market Performance:
- London stocks opened lower on January 12, 2026, tracking global weakness due to concerns over Federal Reserve independence from the Trump administration.
- FTSE 100 down 0.1% at 10,114.35, FTSE 250 down 0.3% at 22,976.17, AIM All-Share up 0.6% at 795.36.
- European equities also declined, with CAC 40 down 0.5% and DAX 40 marginally lower.
- Federal Reserve Concerns:
- Renewed worries over threats to the Federal Reserve's independence, with Chair Jerome Powell revealing grand jury subpoenas from the Justice Department.
- Powell linked the action to broader attacks by the Trump administration, particularly over interest rate policy.
- UK Economic Indicators:
- Weakness in the UK labor market, with permanent staff placements falling sharply in December, reflecting higher employment costs and budget-related uncertainty.
- Bank of England closely monitoring these trends ahead of its interest rate decision next month.
- Global Markets and Commodities:
- Gold hit a record high of USD4,596.60/ounce amid geopolitical tensions and Fed independence concerns.
- Brent oil down to USD63.12/barrel, influenced by Venezuelan political developments and Trump's calls for increased US oil investment in Venezuela.
- Asian markets rose, with Shanghai Composite up 1.1%, Hang Seng up 1.4%, and S&P/ASX 200 up 0.5%.
- Corporate News:
- Barclays fell 4.0% on FTSE 100 due to exposure to Trump's proposed cap on credit card interest rates.
- British Land down 2.9% after CEO Simon Carter announced departure.
- JD Sports Fashion rose 1.8% on plans to integrate AI platforms for direct purchases.
- Oxford Nanopore (FTSE 250) up 8.1% on strong 2025 revenue growth projections.
- Upcoming Events:
- Wall Street earnings season begins with reports from JPMorgan Chase, Delta Air Lines, Citigroup, and Goldman Sachs.
- US inflation figures and UK November GDP estimate to be released.
LONDON MARKET EARLY CALL: FTSE 100 seen lower amid Fed-Trump clash
- London Stocks Opening Lower: FTSE 100 futures indicate a 0.1% decline at the open (10,112.10), as markets react to Trump's escalating pressure on the Federal Reserve.
- G7 Meeting on Critical Raw Materials: Finance ministers to discuss access to 34 critical materials (e.g., lithium, cobalt) in Washington, amid Trump's renewed claim to Greenland's rare earth deposits.
- Federal Reserve Under Scrutiny: DOJ subpoenas Fed Chair Jerome Powell, escalating Trump's feud over interest rate policies. Powell warns of political intimidation threatening central bank independence.
- Market Reactions: USD and USTs face higher risk premiums; stocks under pressure but supported by dip buyers. Sterling and euro strengthen against USD.
- US Banking Concerns: Industry warns Trump's 10% credit card interest rate cap would reduce credit availability and harm consumers/businesses.
- Asian Markets Rise: Nikkei (+1.6%), Shanghai Composite (+1.1%), Hang Seng (+1.3%), and S&P/ASX 200 (+0.5%) all higher on Monday.
- Commodities: Gold rises to USD4,574.40/oz; Brent oil at USD63.44/barrel. Focus on oil amid Venezuela and Iran tensions.
- Trade Developments: EU to sign Mercosur trade agreement on January 17, despite opposition from European farmers.
- Corporate/Economic Calendar: Oxford Nanopore trading statement and Germany's current account data expected on Monday.
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