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LONDON MARKET CLOSE: FTSE 100 rallies as inflation fears ease
- London Stock Market:
- FTSE 100 closed up 1.6% at 10,412.24.
- FTSE 250 ended up 1.8% at 22,492.27.
- AIM all-share closed up 1.6% at 778.80.
- Miners led gains with Fresnillo (+8.1%), Antofagasta (+6.0%), and Anglo American (+6.6%) rising.
- Oil and defense firms eased: BP (-2.1%), Shell (-0.8%), BAE Systems (-0.4%).
- European Equities:
- CAC 40 (Paris) closed up 1.8%.
- DAX 40 (Frankfurt) ended 2.4% higher.
- Currency Movements:
- Pound climbed to USD1.3458 from USD1.3396.
- Euro rose to USD1.1648 from USD1.1593.
- Dollar traded lower against the yen at JPY157.56 from JPY158.13.
- Global Markets:
- US stocks higher: Dow Jones (+0.6%), S&P 500 (+0.4%), Nasdaq (+0.7%).
- US 10-year Treasury yield slimmed to 4.11% from 4.13%.
- US 30-year Treasury yield widened slightly to 4.75% from 4.74%.
- Commodities:
- Brent oil lower at USD87.92 from USD100.02, easing inflation concerns.
- Gold rose to USD5,228.60 from USD5,104.20.
- Corporate News:
- Pershing Square shares rose 5.7% after filing for dual IPOs in New York.
- Persimmon shares climbed 4.5% on strong results and positive analyst comments.
- Costain shares jumped 17% on strong 2025 performance despite revenue fall.
- Rotork shares sank 13% on softer oil and gas outlook despite profit rise.
- Abingdon Health shares jumped 10% on upcoming OTCQB Venture Market trading.
- Economic Calendar:
- Wednesday: German CPI, US CPI, US monthly budget statement.
- UK corporate results: Legal & General, Balfour Beatty, Hill & Smith.
- Geopolitical Context:
- US President Donald Trump indicated the Iran war would end "very soon."
- Pentagon chief Pete Hegseth announced intensified strikes inside Iran.
- IEA to assess oil supply security and potential emergency stock release.
LONDON MARKET MIDDAY: FTSE climbs as oil retreat lifts sentiment
- London Stock Market:
- FTSE 100 up 1.5% at 10,399.85, FTSE 250 up 2.1% at 22,550.44, AIM all-share up 1.5% at 778.00.
- Cboe UK indices also rose, with Cboe UK 100 up 1.4% and Cboe UK 250 up 1.7%.
- Broad relief rally driven by declining oil and gas prices, easing inflation concerns.
- European Markets:
- CAC 40 in Paris up 1.6%, DAX 40 in Frankfurt up 2.2%.
- Rebound attributed to lower energy prices and reduced hawkish central bank expectations.
- Oil and Gas:
- Brent crude down to USD91.96 per barrel from USD100.02 on Monday.
- Aramco CEO Amin Nasser warned of "catastrophic consequences" for oil markets due to Middle East conflict.
- Aramco reported a 12% fall in net income in 2025, citing higher supply, US tariffs, and economic headwinds.
- Currencies:
- Pound at USD1.3445, euro at USD1.1637, dollar down against yen at JPY157.80.
- US Markets:
- Mixed outlook: Dow and S&P 500 down 0.1%, Nasdaq up 0.1%.
- US 10-year Treasury yield at 4.12%, 30-year at 4.77%.
- Small business optimism weakened in February, NFIB index at 98.8.
- UK Stocks:
- Housebuilders led gains, with Persimmon up 7.0%.
- Pershing Square Holdings up 5.8% after dual US IPO filings.
- Spirax up 2.8% despite forecasting supply chain issues.
- BP and Shell down 2.5% and 1.4% respectively due to lower oil prices.
- Genuit surged 10% on strong 2025 results, Catenai up 79% on AI platform launch.
- Videndum plunged 62% on refinancing announcement, Capita down 15% on revenue decline.
- Commodities:
- Gold up to USD5,172.20 per ounce.
- Upcoming Economic Data:
- US ADP employment figures and existing home sales due later on Tuesday.
LONDON BROKER RATINGS: UBS raises Admiral; Canaccord cuts Clarkson
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- 10th Mar 2026 10:03
- The following London-listed shares received analyst recommendations Tuesday morning and on Monday:
- FTSE 100
- Citigroup cuts Sage Group price target to 1,150 (1,400) pence - 'buy'
- UBS raises Admiral Group to 'buy' (neutral) - price target 3,550 (3,300) pence
- Citigroup cuts Entain price target to 1,100 (1,150) pence - 'buy'
- Goldman Sachs raises Entain price target to 1,040 (1,000) pence - 'buy'
- Goldman Sachs raises Convatec price target to 360 (340) pence - 'buy'
- Goldman Sachs raises Bunzl price target to 2,545 (2,360) pence - 'neutral'
- Barclays raises Prudential price target to 1,330 (1,320) pence - 'overweight'
- Jefferies raises Rentokil Initial price target to 550 (540) pence - 'buy'
- Stifel raises Rentokil Initial price target to 460 (390) pence - 'hold'
- Stifel raises IMI price target to 3,250 (2,750) pence - 'buy'
- FTSE 250
- Berenberg raises Clarkson price target to 5,250 (4,750) pence - 'buy'
- Deutsche Bank Research raises Clarkson price target to 4,850 (4,350) pence - 'buy'
- Canaccord cuts Clarkson to 'hold' (buy) - price target 4,400 pence
- Goldman Sachs cuts Vistry price target to 625 (710) pence - 'buy'
- JPMorgan cuts Vistry price target to 530 (640) pence - 'neutral'
- Goldman Sachs cuts Derwent London price target to 2,550 (2,790) pence - 'buy'
- Berenberg cuts Taylor Wimpey price target to 120 (128) pence - 'buy'
- Berenberg cuts Pan African Resource price target to 181 (190) pence - 'buy'
- RBC cuts Greggs price target to 1,830 (1,970) pence - 'outperform'
- Jefferies cuts Lancashire price target to 698 (736) pence - 'buy'
- SMALL CAP
- RBC cuts Capita price target to 450 (480) pence - 'outperform'
- Goldman Sachs cuts Flutter Entertainment price target to 15,350 (19,700) pence - 'buy'
- Goldman Sachs raises Fevertree Drinks price target to 915 (875) pence - 'neutral'
- Barclays raises Reach price target to 64 (61) pence - 'equal weight'
- Berenberg cuts Strix price target to 70 (75) pence - 'buy'
- Stifel cuts Strix price target to 54 (62) pence - 'buy'
- Related Shares:
LONDON MARKET OPEN: Relief rally as oil slides after Trump remarks
- London Stock Market:
- FTSE 100 opened up 1.7% at 10,426.04, FTSE 250 up 2.0% at 22,529.90, and AIM all-share up 1.2% at 776.28.
- Energy producers BP and Shell weighed on FTSE 100, down 3.2% and 2.6% respectively due to falling oil prices.
- Brent oil fell to USD92.56 per barrel from USD100.02, easing inflation fears and shifting Bank of England rate cut expectations.
- Global Geopolitics:
- US President Donald Trump stated the Iran war would end "very soon," but warned of severe retaliation if Iran disrupts oil flows through the Strait of Hormuz.
- Iran vowed to halt all oil exports from the Gulf during the conflict, with the IRGC asserting control over the region's oil flow.
- European Markets:
- CAC 40 (Paris) up 1.7%, DAX 40 (Frankfurt) up 2.1%.
- Germany's trade surplus widened to EUR21.2 billion in January, driven by stronger exports to the US but also by sharper import declines.
- Volkswagen shares up 3.7% despite reporting a near 50% profit drop, with plans to cut 50,000 jobs by 2030.
- Currency Movements:
- Pound at USD1.3460, Euro at USD1.1650, Dollar down to JPY157.61 against the Yen.
- Corporate Highlights:
- Persimmon surged 9.1% after reporting higher earnings and completions for 2025, with strong early 2026 trading.
- Costain and Genuit led FTSE 250 gains, up 9.4% and 8.7% respectively after positive annual results.
- Edinburgh Worldwide Investment Trust rose 2.7% after proposing a tender offer due to activist investor pressure.
- Videndum plunged 55% after announcing refinancing terms, including a GBP85 million placing and open offer.
- Global Markets:
- Asian markets rebounded: Nikkei 225 up 2.9%, Shanghai Composite up 0.7%, Hang Seng up 2.2%.
- US markets ended higher on Monday: Dow up 0.5%, S&P 500 up 0.8%, Nasdaq up 1.4%.
- Commodities and Bonds:
- US 10-year Treasury yield at 4.10%, 30-year at 4.73% (corrected from 7.73%).
- Gold up to USD5,193.20 per ounce.
- Upcoming Economic Data:
- US NFIB business optimism index, ADP employment figures, and existing home sales expected on Tuesday.
LONDON MARKET EARLY CALL: FTSE 100 seen higher as oil retreats
- London Stocks Outlook: FTSE 100 futures indicate a 0.6% higher opening at 10,315.62 points, rebounding after oil price retreat and Trump's comments on Iran conflict.
- Oil Prices: Brent oil fell to $93.76/barrel early Tuesday from $100.02 late Monday, following Trump's remarks and potential G7 strategic oil reserve release discussions.
- Trump's Comments: Described the Iran conflict as a "short-term excursion," waived some oil sanctions to reduce prices, and added uncertainty with mixed statements on conflict timeline.
- Currency Movements: Sterling rose to $1.3456, euro dipped to $1.1560, and dollar weakened to ¥157.53 against the yen.
- Global Equity Markets:
- US: Dow +0.5%, S&P 500 +0.8%, Nasdaq +1.4% on Monday.
- Asia: Nikkei +2.6%, Shanghai Composite +0.5%, Hang Seng +2.0% on Tuesday.
- Australia: S&P/ASX 200 +1.1%, supported by improved consumer sentiment.
- Economic Data:
- Japan's Q4 2025 GDP revised up to 1.3% annualized growth, surpassing initial estimates.
- China's Jan-Feb trade surplus surged 87% to $213.62 billion.
- UK retail sales growth slowed to 1.1% in February, below 12-month average of 2.3%.
- Inflation and Growth Warnings: British Chambers of Commerce predicts higher inflation in 2026 due to Middle East conflict, slower UK economic growth, and rising unemployment.
- Commodities: Gold rose to $5,175.80/ounce early Tuesday from $5,104.20 on Monday.
- Corporate Calendar: Full-year results expected from Costain Group, Genuit Group, Persimmon, Rotork, Somero Enterprises, and Spirax Group.
- Economic Calendar: Key releases include Germany and France trade balances, US NFIB business optimism index, ADP employment figures, and existing home sales.
All Market News Today 479 headlines
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