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LONDON MARKET CLOSE: Stocks and pound rise; US rate call approaches
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LONDON MARKET MIDDAY: FTSE 100 strengthens despite ongoing uncertainty
- FTSE 100 Performance: Up 71.85 points (0.7%) at 10,389.54, outperforming despite Middle East conflict and high oil prices.
- European Markets: CAC 40 (Paris) up 0.6%, DAX 40 (Frankfurt) up 0.3%.
- Currency Movements: Sterling up to USD1.3337, Euro up to USD1.1515, Dollar slightly lower against Yen at JPY159.00.
- Oil Prices: Brent oil up to USD103.53 per barrel, driven by Iran's attacks on regional energy infrastructure.
- Oil Majors: BP up 1.6%, Shell up 1.1% on the FTSE 100.
- Middle East Developments: Iran's top security official and Basij militia head killed in overnight strikes, per Israel's defense minister.
- U.S. Markets: Dow Jones and S&P 500 called down 0.1%, Nasdaq down 0.2%.
- Travis Perkins: Shares up 6.0% despite widened losses (GBP134.7 million) and dividend cut, amid subdued housing market.
- Trustpilot: Shares surged 28% after beating earnings expectations and announcing a GBP22.5 million share buyback program.
- Harworth Group: Shares down 1.7% on lower full-year revenue (GBP129.8 million, -29%) and pretax profit (GBP14.7 million, -75%).
- Intercede: Shares down 18% on expected adjusted EBITDA 15-18% below market expectations, citing procurement delays and geopolitical uncertainty.
- Gold Prices: Up to USD5,009.80 per ounce.
- Upcoming Data: U.S. pending home sales figures expected later Tuesday.
LONDON BROKER RATINGS: Barclays cuts Unite Group to 'equal weight'
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- 17th Mar 2026 09:38
- The following London-listed shares received analyst recommendations Tuesday morning and on Monday:
- FTSE 100
- JPMorgan raises HSBC price target to 1,360 (1,190) pence - 'neutral'
- JPMorgan cuts Autotrader price target to 515 (630) pence - 'underweight'
- RBC raises Tesco price target to 465 (440) pence - 'sector perform'
- RBC raises J Sainsbury price target to 385 (375) pence - 'outperform'
- Barclays raises BP price target to 650 (590) pence - 'overweight'
- Barclays raises Shell price target to 4,500 (4,000) pence - 'overweight'
- Goldman Sachs raises Standard Life price target to 764 (761) pence - 'neutral'
- UBS raises Smith & Nephew price target to 1,300 (1,290) pence - 'neutral'
- RBC raises IMI price target to 2,700 pence - 'sector perform'
- FTSE 250
- UBS cuts Computacenter price target to 3,500 (3,700) pence - 'buy'
- Goldman Sachs raises Hammerson price target to 361 (327) pence - 'neutral'
- Goldman Sachs cuts Drax price target to 940 (947) pence - 'neutral'
- Barclays cuts Unite Group to 'equal weight' - price target 520 (615) pence
- Barclays raises Harbour Energy price target to 400 (380) pence - 'overweight'
- Deutsche Bank Research cuts Rotork price target to 400 (405) pence - 'buy'
- Deutsche Bank Research raises Costain price target to 180 (150) pence - 'hold'
- Deutsche Bank Research raises Helios Towers price target to 270 (245) pence - 'buy'
- Deutsche Bank Research cuts Marshalls price target to 248 (420) pence - 'buy'
- Related Shares:
LONDON MARKET OPEN: FTSE 100 outperforms Europe as oil rises
- London Stock Market:
- FTSE 100 opened up 0.2% at 10,337.13, supported by oil majors Shell (+1.2%) and BP (+1.0%).
- FTSE 250 down 0.2% at 21,982.56; AIM all-share up 0.5% at 758.30.
- Trustpilot shares surged 20% on strong profit growth, reporting pretax profit of USD14.1 million in 2025, up from USD5.2 million in 2024.
- European Markets:
- CAC 40 in Paris slightly up; DAX 40 in Frankfurt down 0.2%.
- Currency Movements:
- Sterling up slightly at USD1.3330; Euro marginally higher at USD1.1515; Dollar slightly lower against the yen at JPY159.07.
- Middle East Developments:
- US President Donald Trump criticized allies for lukewarm response to protecting shipping in the Strait of Hormuz.
- Brent oil trading higher at USD103.69/barrel amid geopolitical tensions.
- EU and Germany ruled out participation in potential military operations; calls in Europe to normalize relations with Russia.
- US Federal Reserve:
- Two-day policy meeting begins; focus on inflation and labor market softness.
- Fed funds futures no longer pricing in a full 25 basis point cut this year.
- Asian Markets:
- Nikkei 225 down 0.1%; Shanghai Composite down 0.9%; Hang Seng up 0.1%; S&P/ASX 200 up 0.4%.
- US Markets (Monday):
- Dow Jones up 0.8%; S&P 500 up 1.0%; Nasdaq up 1.2%.
- Commodities:
- Gold higher at USD5,021.70/ounce; Brent oil at USD103.69/barrel.
- Corporate News:
- IP Group shares up 7.9% on higher net asset value per share.
- Close Brothers shares down 4.7% on job cuts and narrower pretax loss.
- Old Mutual shares down 8.3% despite higher annual profit; Chair Trevor Manuel to retire.
- Economic Calendar:
- Germany and eurozone economic sentiment data, US pending home sales figures expected later Tuesday.
LONDON MARKET EARLY CALL: FTSE 100 to edge lower as oil rise continues
- London Stocks: FTSE 100 set to open slightly lower, down 7.8 points (0.1%) at 10,309.89, amid ongoing focus on Middle East conflict and oil market developments.
- Currency Movements: Sterling slightly down at USD1.3286, euro marginally lower at USD1.1477, and dollar slightly higher against yen at JPY159.36.
- Middle East Conflict: US President Donald Trump criticized allies for lukewarm response to protecting shipping in the Strait of Hormuz; EU and Germany ruled out military involvement.
- Oil Prices: Brent oil trading higher at USD103.79 per barrel, up from USD102.83 on Monday.
- Market Analysis: Pepperstone analyst Michael Brown noted markets are led by energy developments, with wide potential outcomes and no clear timeline for de-escalation.
- US-China Relations: Trump requested a one-month delay for his summit with Xi Jinping to focus on the Middle East war.
- Global Markets: Wall Street ended higher on Monday; Asian markets mixed on Tuesday with Nikkei down 0.1%, Shanghai Composite down 0.8%, and Hang Seng up 0.1%.
- Nvidia Outlook: CEO Jensen Huang projected at least USD1 trillion in revenue by 2027, driven by demand for premium graphics processing units.
- Gold Prices: Gold higher at USD5,012.50 per ounce, up from USD4,983.55 on Monday.
- Economic Calendar: Tuesday features German and eurozone economic sentiment data, US pending home sales figures, and UK corporate results from Prudential, Travis Perkins, and Harworth Group.
All Market News Today 502 headlines
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JEMA
16:44
JPMORGAN EMERGING EUROPE MIDDLE EAST & AFRICA SECURITIES PLCc
EGL
13:54
Ecofin Global Utilities and Infrastructure Trust plc
MGCI
06:01
M&G Credit Income Investment Trust PLC