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LONDON MARKET CLOSE: FTSE 100 falls on growing fears of prolonged war
- London Stock Market:
- FTSE 100 closed down 48.62 points (0.5%) at 10,305.15.
- FTSE 250 ended down 212.60 points (1.0%) at 22,168.74.
- AIM all-share closed down 6.59 points (0.9%) at 767.02.
- Cboe UK indices also closed lower, with Cboe UK 100 down 0.4% and Cboe UK 250 down 0.5%.
- European Equities:
- CAC 40 in Paris closed down 0.7%.
- DAX 40 in Frankfurt ended 0.2% lower.
- Currency Movements:
- Pound fell to USD1.3353 from USD1.3410.
- Euro stood lower at USD1.1522 from USD1.1571.
- Dollar traded higher against the yen at JPY159.21 from JPY158.81.
- Oil Prices:
- Brent oil rose to USD98.65 a barrel from USD91.93, driven by Iran's closure of the Strait of Hormuz.
- Geopolitical Tensions:
- Iran's new leader called for the Strait of Hormuz to "remain closed," raising fears of prolonged Middle East conflict.
- US President Donald Trump prioritized stopping Iran's nuclear ambitions over oil price concerns.
- Iran later allowed ships from some countries to cross the Strait of Hormuz, but restricted passage for countries involved in aggression.
- US Markets:
- Dow Jones Industrial Average down 1.1%.
- S&P 500 index fell 1.1%.
- Nasdaq Composite down 1.3%.
- US 10-year Treasury yield widened to 4.25%.
- Economic Data:
- US initial jobless claims edged down to 213,000, indicating a stable labor market despite AI-related concerns.
- Corporate Performance:
- Rentokil Initial topped FTSE 100, up 5.2% after UBS upgrade.
- HSBC, Entain, and Schroders fell due to ex-dividend trading.
- M&G closed down 3.6% despite strong results, reflecting profit-taking.
- TP ICAP (FTSE 250) closed up 11% after strong 2025 revenue and profit growth.
- Shawbrook down 12% despite increased underlying profit.
- On the Beach down 13% after withdrawing full-year profit guidance due to weak bookings.
- Commodities:
- Gold fell to USD5,131.30 an ounce from USD5,172.30.
- Upcoming Events:
- Friday: UK GDP data at 0700 GMT, US GDP and PCE reading at 1230 GMT, French and Spanish CPI figures.
- Corporate calendar includes trading statements from Berkeley Group, Glenveagh Properties, and Stelrad.
LONDON MARKET MIDDAY: FTSE subdued as oil volatility bites
- London Stock Market:
- FTSE 100 down 0.2% at 10,334.26.
- FTSE 250 down 0.2% at 22,332.01.
- AIM all-share down 0.3% at 771.01.
- Defense stocks (BAE Systems, Babcock, Rolls-Royce) gained, while Rentokil Initial led with a 4.1% rise after UBS upgrade.
- European Markets:
- CAC 40 (Paris) down 0.1%.
- DAX 40 (Frankfurt) up 0.2%.
- EU vows firm response to any US tariff deal violation after Trump’s trade probes.
- Global Oil Market:
- Iran war causing largest-ever disruption; Brent crude topped $100/barrel, trading at $96.72 midday.
- IEA coordinated record 400 million barrels release from reserves, but prices climbed amid tensions.
- Oil prices 20% higher, gas prices 50% higher since conflict escalation.
- UK Inflation Concerns:
- OBR warns sustained energy price spike could raise UK inflation by 1% by year-end.
- Pound down to $1.3396, euro at $1.1553.
- US Markets:
- Dow Jones, S&P 500, and Nasdaq called lower by 0.6%, 0.5%, and 0.4% respectively.
- US 10-year Treasury yield at 4.22%, 30-year at 4.88%.
- Corporate Highlights:
- TP ICAP (FTSE 250) up 8% after strong 2025 revenue and profit growth.
- On the Beach Group down 12% after withdrawing profit guidance due to weak Mediterranean bookings.
- Airlines (IAG, Air France-KLM, Wizz Air, easyJet) and travel stocks (Jet2) hit by conflict and fuel costs.
- Commodities:
- Gold up to $5,179.30/ounce.
- Upcoming Data:
- US weekly jobless claims, trade balance, building permits, and Canada trade balance.
LONDON BROKER RATINGS: UBS raises Rentokil Initial; RBC cuts Bodycote
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- 12th Mar 2026 09:22
- The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:
- FTSE 100
- BofA raises Severn Trent price target to 3,500 (3,100) pence - 'buy'
- UBS raises Rentokil Initial to 'buy' - price target 540 pence
- BofA raises United Utilities price target to 1,500 (1,300) pence - 'buy'
- FTSE 250
- Deutsche Bank Research raises Hill & Smith price target to 2,930 (2,625) pence - 'buy'
- Berenberg raises Helios Towers price target to 230 (215) pence - 'buy'
- Jefferies cuts Computacenter price target to 3,700 (3,800) pence - 'buy'
- Berenberg raises Balfour Beatty price target to 870 (800) pence - 'buy'
- BofA raises Balfour Beatty price target to 830 (780) pence - 'buy'
- Citigroup raises Morgan Advanced Materials target to 235 (230) pence - 'buy'
- RBC cuts Bodycote to 'sector perform' (outperform) - price target 775 pence
- JPMorgan raises Hochschild Mining to 'overweight' (neutral) - price target 990 (890) pence
- BofA raises Pennon Group price target to 610 (560) pence - 'buy'
- SMALL CAP
- Deutsche Bank research cuts Robert Walters price target to 200 (230) pence - 'buy'
- Berenberg raises Rainbow Rare Earths price target to 49 (34) pence - 'buy'
- Jefferies raises Forterra price target to 219 (216) pence - 'buy'
- Related Shares:
LONDON MARKET OPEN: FTSE falls as oil jumps on Gulf vessel attacks
- London Stock Market:
- FTSE 100 opened down 0.7% at 10,281.63.
- FTSE 250 down 0.5% at 22,261.24.
- AIM all-share down 0.4% at 770.71.
- Cboe UK indices mostly lower, with small companies marginally higher.
- European Equities:
- CAC 40 (Paris) down 0.7%.
- DAX 40 (Frankfurt) down 0.5%.
- Oil Prices:
- Brent crude surged to USD101.74, trading around USD97.57 after attacks on ships in the Gulf.
- IEA members to release 400 million barrels from strategic reserves to calm markets.
- Iran warned oil prices could hit USD200/barrel due to intensified attacks in the Strait of Hormuz.
- Defense Stocks:
- BAE Systems (+2.4%), Babcock (+2.2%), Rolls-Royce (+0.8%) rose in London.
- Rheinmetall (Germany) +3.0%, Thales (France) +2.0%.
- Leonardo (Italy) +7.6% after missile strike on Italian base in Erbil, Iraq.
- Currencies:
- Sterling at USD1.3378, euro at USD1.1550, dollar at JPY158.96.
- US Markets:
- Dow Jones -0.6%, S&P 500 -0.1%, Nasdaq +0.1% on Wednesday.
- Trade Developments:
- Trump administration launched trade investigations into China, EU, Japan, India, potentially leading to new tariffs.
- China criticized the move as "political manipulation."
- UK Corporate News:
- HSBC (-4.2%), Schroders (-2.5%), LondonMetric Property (-1.9%), Tritax Big Box REIT (-2.2%), Entain (-1.0%) traded ex-dividend.
- Trainline (-5.5%), Computacenter (-5.5%) among FTSE 250 losers.
- Savills reported higher revenue (+6.1%) and profit (+11%) for 2025, acquired Eastdil Secured Holdings.
- On the Beach Group (-14%) suspended profit guidance due to Middle East conflict impact on bookings.
- Asian Markets:
- Nikkei 225 (Tokyo) -1.0%, Shanghai Composite -0.1%, Hang Seng (Hong Kong) -0.7%, S&P/ASX 200 (Sydney) -1.3%.
- Commodities:
- Gold at USD5,179.50/ounce, up from USD5,172.30 on Wednesday.
- Upcoming Economic Data:
- Ireland CPI, US jobless claims, US trade balance, US building permits, Canada trade balance.
LONDON MARKET EARLY CALL: FTSE 100 seen lower as oil tops USD100
- London Stocks: Set to open lower on Thursday, with FTSE 100 futures down 0.1% at 10,344.67, amid surging oil prices and Middle East tensions.
- Oil Prices: Brent oil surged to USD100.58 per barrel after explosions on foreign ships in the Gulf, despite a record release of 400 million barrels from strategic reserves by the International Energy Agency.
- Iran Warning: Oil could reach USD200 a barrel if attacks on shipping in the Strait of Hormuz intensify.
- US Response: President Donald Trump promised "great safety" for oil tankers in the Strait of Hormuz and stated the conflict with Iran would end "soon."
- Currency Movements: Sterling fell to USD1.3378, the euro to USD1.1550, and the dollar rose to JPY158.96 against the yen.
- Asian Markets: Nikkei 225 down 1.3%, Shanghai Composite down 0.2%, and Hang Seng down 0.9%.
- Australian Market: S&P/ASX 200 closed down 1.3% due to inflation concerns, with consumer inflation expectations rising to 5.2% in March.
- US Markets: Wall Street ended mixed on Wednesday, with the Dow down 0.6%, S&P 500 down 0.1%, and Nasdaq up 0.1%.
- US Inflation: Consumer price inflation steady at 2.4% year-on-year in February, with analysts expecting changes later in the year.
- US Trade Probe: New investigation into unfair trade practices by China, EU, India, Japan, South Korea, and Mexico, potentially leading to new tariffs by summer.
- UK Housing Market: Continued downward pressure on house prices, with the net balance slipping to minus 12% in February.
- Gold Prices: Fell to USD5,160.50 per ounce on Thursday.
- Corporate Updates: Busy day in London with full-year results from Computacenter, Halma, M&G, Informa, and Savills, among others.
- Economic Calendar: Key releases include Ireland CPI, US weekly jobless claims, US trade balance, US building permits, and Canada trade balance.
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