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LONDON MARKET CLOSE: FTSE 100 falls as Iran responds to US proposals
- Stock prices in London closed lower on Thursday due to rising oil prices and uncertainty around US-Iran talks.
- FTSE 100 fell 1.3% to 9,972.17, FTSE 250 dropped 0.8% to 21,296.07, and AIM all-share declined 1.4% to 719.06.
- European equities also fell, with CAC 40 down 1.0% and DAX 40 down 1.5%.
- Pound fell to USD1.3338 against the dollar but rose to EUR1.1563 against the euro.
- Brent oil rose to USD108.80 per barrel amid Middle East tensions.
- OECD warned of darkened economic outlook due to the conflict, predicting UK inflation at 4% in 2026.
- Next shares led FTSE 100, up 6.4% on strong earnings report.
- 3i Group shares sank 18% on 2026 guidance and US expansion plans for investee Action.
- Pollen Street shares rose 8.9% on increased assets under management.
- Playtech shares fell 12% on weaker 2025 performance.
- Checkit shares surged 26% after launching a formal sale process.
- Gold fell to USD4,383.70 per ounce.
- Upcoming economic data includes UK retail sales and Spanish CPI on Friday.
LONDON MARKET MIDDAY: Shares fall as OECD flags war hit to UK economy
- Stock prices in London sharply lower at midday due to concerns over UK's exposure to Iran conflict and reliance on energy imports.
- FTSE 100 down 1.3%, FTSE 250 down 1.2%, and AIM all-share down 1.3%.
- King's Speech scheduled for May 13 to outline UK government's legislative agenda.
- European equities also lower, with CAC 40 down 0.9% and DAX 40 down 1.4%.
- Middle East situation remains uncertain with ongoing missile exchanges between Israel and Iran.
- Oil prices climbed to USD107.15 per barrel after dipping below USD100 on Wednesday.
- UK pound lower against USD but rose against the euro.
- OECD forecasts weaker UK economic growth and higher inflation in 2026 due to Middle East conflict.
- UK inflation expected to average 4% in 2026, second-highest in G7.
- UK GDP growth forecast cut to 0.7% in 2026, second-lowest in G7.
- Miners under pressure, with Anglo American and Fresnillo down due to falling gold prices.
- Next and Pollen Street standout performers in FTSE 100 and FTSE 250, respectively.
- Capita surged 16% after selling its private sector contact centre business.
- Checkit jumped 23% after launching a formal sale process.
- US stocks called lower, with Dow Jones, S&P 500, and Nasdaq Composite all down.
- German consumer sentiment expected to deteriorate in April due to Iran conflict.
- EU Parliament conditionally approves tariff deal with the US.
LONDON BROKER RATINGS: UBS raises Close Bros; Goldman reinitiates HSBC
- BofA raises BAE Systems price target to 2,445 (2,330) pence - 'buy'
- Goldman Sachs raises BP price target to 650 (640) pence - 'buy'
- Goldman Sachs reinitiates HSBC with 'buy' - price target 1,675 pence
- UBS raises Prudential price target to 1,470 (1,400) pence - 'buy'
- JPMorgan cuts M&G price target to 315 (320) pence - 'neutral'
- Goldman Sachs cuts ICG target to 2,860 (3,010) pence - 'buy'
- Barclays raises Diageo price target to 2,360 (2,310) pence - 'overweight'
- JPMorgan cuts Prudential price target to 1,450 (1,500) pence - 'overweight'
- UBS cuts Croda International price target to 4,300 (4,320) pence - 'buy'
- Goldman Sachs cuts Bellway price target to 2,425 (2,745) pence - 'neutral'
- JPMorgan cuts RS Group price target to 635 (747) pence - 'overweight'
- Berenberg cuts RS Group price target to 600 (670) pence - 'hold'
- UBS raises Close Brothers to 'buy' - price target 555 pence
- Deutsche Bank Research raises S4 Capital price target to 30 (28) pence - 'hold'
- RBC raises Ecora Royalties price target to 190 (175) pence - 'outperform'
- Berenberg cuts Ecora Royalties price target to 180 (190) pence - 'buy'
- Berenberg cuts Kenmare Resources price target to 230 (250) pence - 'hold'
- Deutsche Bank Research raises Luceco price target to 225 (220) pence - 'buy'
- Goldman Sachs cuts Kerry Group price target to 90 (95) EUR - 'buy'
- Berenberg cuts everplay price target to 370 (450) pence - 'buy'
- Barclays cuts everplay price target to 330 (425) pence - 'overweight'
- RBC cuts Foresight Solar Fund price target to 75 (80) pence - 'sector perform'
LONDON MARKET OPEN: Shares in Europe fall amid peace talk vagueness
- London stock prices opened lower on Thursday, retreating from previous gains as investors monitored Middle East developments and rising oil prices.
- FTSE 100 down 0.9%, FTSE 250 down 1.0%, and AIM all-share down 0.8%.
- European equities also declined, with CAC 40 down 0.7% and DAX 40 down 1.2%.
- US President Donald Trump claimed Iran is "afraid" to admit negotiations with the US, while Iran denies talks.
- Oil prices rebounded, with Brent trading at USD105.94 per barrel, boosting energy stocks like BP and Shell.
- Pound weakened against USD and EUR; euro and dollar also saw movements.
- Next led FTSE 100 gains (up 5.9%) with strong full-year results but flagged geopolitical risks.
- Aviva, Segro, and St James's Place declined due to ex-dividend trading; miners weakened on falling gold prices.
- Currys dropped 9.9% on CEO Alex Baldock's departure, despite confirming outlook.
- Ceres Power topped FTSE 250 (up 7.7%) after partnering with Centrica for fuel cell solutions.
- GSTechnologies slumped 28% due to suspension and crypto trading halt.
- Asian markets closed lower; US markets ended higher on Wednesday.
- US Treasury yields widened; US weekly jobless claims awaited.
LONDON MARKET EARLY CALL: FTSE 100 seen down as oil whiplashes back up
- London stocks expected to open slightly lower on Thursday due to rising oil prices and Middle East tensions.
- FTSE 100 futures indicate a 0.2% decline, opening at 10,085.94, after closing up 1.4% on Wednesday.
- Iran denies peace talks with the US, despite claims by President Trump, with Iranian officials emphasizing continued resistance.
- Oil prices rise above USD100, with Brent trading at USD104.43 a barrel, amid geopolitical uncertainties.
- Sterling weakens against the USD, while the euro and yen show mixed movements.
- UK government prioritizes domestic suppliers for national security-related contracts in sectors like shipbuilding, steel, AI, and energy.
- UK consumer confidence hits record lows in March due to concerns over inflation and the Middle East conflict.
- US markets closed higher on Wednesday, while Asian equities traded lower on Thursday, led by declines in Japan, China, and Hong Kong.
- Gold prices drop to USD4,437.66 an ounce, down from USD4,554.59 on Wednesday.
- German Chancellor Friedrich Merz warns of prolonged negotiations on the EU's long-term budget.
- Key corporate and economic events on Thursday include full-year results from several companies and releases of consumer confidence and GDP data.
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