DIRS.INFO The most relevant business & tech news

☆ Analysis: The deep freeze over UK assets is thawing
▼ + stars: | 2023-02-13 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

"This does suggest a possible inflection point in sentiment towards UK assets," said Nick Kissack, a UK portfolio manager at Schroders, which manages roughly $910 billion of client funds. "We saw extreme levels of risk aversion," in September, he added, while "the risk premium for UK assets has come down since." That, in short, is an outlook of higher global interest rates, weak growth and high inflation. Reuters GraphicsHowever, analysts expect the FTSE 100's rise to falter with a stronger global growth outlook combined with waning energy inflation. "The UK is the standout global economy where growth prospects have not improved," said Baylee Wakefield, multi-asset portfolio manager at Aviva Investors, who expects gilts to continue outperforming Treasuries.

☆ Earnings, M&A chatter lift FTSE 100 to record high, Entain tumbles
▼ + stars: | 2023-02-09 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) rose 0.7% to touch a record high of 7,943.68, while the midcap FTSE 250 index (.FTMC) inched up 0.1%. AstraZeneca (AZN.L) jumped 4.3%, set for its best day in nearly a year, after the drugmaker forecast earnings growth in 2023. Unilever (ULVR.L) rose 0.4% after the consumer goods giant reported quarterly underlying sales growth above expectations. Watches of Switzerland Group (WoS) (WOSG.L) slumped 13.1% after it gave its quarterly trading update. (This story has been corrected to say Watches of Switzerland Group gave quarterly trading update, not full-year in the third bullet and last paragraph.)

☆ FTSE 100 slips from record high as upbeat data stokes Fed rate jitters
▼ + stars: | 2023-02-06 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 0.6% after hitting a record high of 7,906.58 in the previous session. Attractive valuation levels compared to overseas peers and the large divergence in performance between different parts of the market "create good opportunities for attractive returns from UK stocks in the next 3-5 years", he added. The domestically-focussed FTSE 250 (.FTMC) fell 0.8%, after climbing an eight-month peak last week. Online trading platform Plus500 Ltd (PLUSP.L) jumped 4.2% after it got licence to expand in the UAE. Reporting by Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

[1/2] A man is reflected in an electronic board showing Britain's FTSE 100 outside a brokerage in Tokyo, Japan, June 27, 2016. REUTERS/Toru HanaiLONDON, Feb 3 (Reuters) - Britain's blue-chip FTSE 100 (.FTSE) index hit a record high on Friday, in what could mark a potential turning point for UK assets, which have been dogged by a floundering economy. The FTSE 100 rose to 7,906.58 at 1545 GMT, surpassing a previous record high of 7,903.50 hit on May 22 2018. "Is it realistic that the FTSE being at an all-time high when we consider the state of the UK economy? The FTSE 100 closed Friday up 1.04% higher and has rallied 4.9% so far this year.

☆ British cybersecurity firm NCC Group to cut workforce by 7%
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

Shares of the Manchester-headquartered FTSE Mid Cap (.FTMC) firm were down about 10% to an over two-and-a-half-year low of 147 pence in morning trade. NCC said the job cuts would lead to a one-off implementation cost of 4 million pounds ($5 million) in the second half of the fiscal year ending May 31. The company said delays in revenue recognition, particularly in North America and the UK, have weighed on annual outlook, and now expects single-digit revenue growth for the year. NCC also forecast an 8% growth in annual adjusted operating profit at about 52 million pounds, after it reported an about 28% jump in first-half earnings. ($1 = 0.8082 pounds)Reporting by Raechel Thankam Job and Prerna Bedi in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ European shares slide, euro steady as data tees up ECB rate hikes
▼ + stars: | 2023-01-24 | by ( Alun John | ) www.reuters.com time to read: +4 min

S&P Global's flash Composite Purchasing Managers' Index (PMI) climbed to 50.2 this month from 49.3 in December, the first time it has been above the 50 mark since June. Britain's flash Composite Purchasing Managers' Index (PMI), however, dropped to 47.8 in January from 49.0 in December, the lowest since January 2021. U.S. PMI data is due later in the day. The European common currency was steady at $1.0865, just off its nine-month high of $1.0927 hit a day before. Sterling turned negative after the British data and lost 0.5% to $1.231, retreating from Monday's seven-month high.

☆ Miners, energy firms drag FTSE 100 lower; Dr Martens hits record low
▼ + stars: | 2023-01-19 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 sheds 0.6%, FTSE 250 off 1.0%Deliveroo achieves breakeven in second halfBoohoo's Christmas revenue drops 11%Dr Martens sinks to FTSE 250 bottom on annual profit warningJan 19 (Reuters) - UK's commodity-heavy FTSE 100 fell on Thursday, with energy firms and material stocks dragging the benchmark index lower, while shares of bootmaker Dr Martens slumped to a record low after its annual profit warning. The FTSE 100 (.FTSE) slid 0.6%, while the domestically-oriented FTSE 250 (.FTMC) shed 1.0%. Energy heavyweights Shell (SHEL.L) and BP (BP.L) fell below 1.7%, while industrial miners (.FTNMX551020) shed 1.8% as crude and copper prices declined after disappointing U.S. economic data and on worries about a hawkish Federal Reserve. Dr Martens (DOCS.L) sank 23.6%, after it warned of a lower annual profit and revenue due to operational issues at its new U.S. distribution centre. Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 slides into red as Ocado weighs
▼ + stars: | 2023-01-17 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

REUTERS/Stefan Wermuth/FilesSummarySummary Companies FTSE 100 down 0.1%, FTSE 250 off 0.05%Wage growth rises unexpectedlyRevolution Bars Group slumpsFTSE 100 hovers over 4-1/2-year highJan 17 (Reuters) - UK's blue-chip FTSE 100 edged lower on Tuesday, snapping a four-day winning streak, as Ocado sank on grim Christmas sales at its online supermarket venture, while data showing rising pay growth fuelled fears about the Bank of England (BoE) keeping monetary policy tight. The blue-chip FTSE 100 (.FTSE) fell 0.1%, while the domestically-oriented FTSE 250 (.FTMC) shed 0.05%. Shares of retailer Ocado Group (OCDO.L) tumbled 5.5% after its online supermarket joint venture with Marks & Spencer (MKS.L), Ocado Retail, said customers purchased fewer items per order in the run-up to Christmas. This saw the personal care, drug and grocery index (.FTNMX452010) lose 0.9%, making it the worst performing sector. Reporting by Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

The FTSE 100 (.FTSE) ended up 0.2% at 7,860.07, not far off its all-time high of 7,903.50 points hit in May 2018, while the mid-cap FTSE 250 (.FTMC) added 0.7%. "Investors appear to have fallen back in love with UK assets," said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown. Money markets are pricing in a 64.3% chance of a 50-basis point hike by the BoE in February to curtail inflation. Oil majors BP (BP.L) and Shell (SHEL.L) slipped close to 0.4% each as crude prices fell. ITM Power (ITM.L) slumped 12% after the energy storage and clean fuel company forecast a wider full-year loss.

☆ Banks, insurers lead UK's FTSE higher; British inflation data looms
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100, FTSE 250 add 0.2% eachJan 16 (Reuters) - UK's export-oriented FTSE 100 edged higher on Monday, with banks and life insurance companies among the top gainers, while investors looked ahead to a week lined up with key domestic economic data including inflation. The blue-chip FTSE 100 (.FTSE) and the mid-cap FTSE 250 (.FTMC) rose 0.2%, as of 0824 GMT, both looking to extend gains to a fourth straight session. Banks (.FTNMX301010) and the FTSE 350 life insurance sector (.FTNMX301010) added 0.4% and 0.6%, respectively. Volumes are expected to be thin due to the Martin Luther King Day federal holiday in the United States. Reporting by Johann M Cherian in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Commodity-linked stocks push FTSE 100 higher; retailers slide
▼ + stars: | 2023-01-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) gained 0.6% to hover near a more than four-year high scaled on Wednesday, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.9%. Retailers Tesco (TSCO.L) and Marks & Spencer (MKS.L) slipped between 0.3% and 1.6% despite strong sales, as both companies warned of inflationary pressures. Financial stocks were among the top gainers on the FTSE 100, with banks like HSBC (HSBA.L) and Barclays (BARC.L) rising 0.9% and 1.4%, respectively. The FTSE 100 has had a bright start to the year so far, rising in almost every session. Centrica (CNA.L) climbed to the top of FTSE 100, jumping 6.1% after the British Gas owner raised its full-year earnings forecast.

☆ Miners push FTSE 100 to over 4-year high, Direct Line tumbles
▼ + stars: | 2023-01-11 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies Direct Line drops after scrapping final dividend for 2022JD Sports rises after reporting high revenue growthReach slumps after saying annual profit to miss expectationsU.S. CPI awaitedFTSE 100 up 0.5%, FTSE 250 adds 0.7%Jan 11 (Reuters) - UK's exporter-heavy FTSE 100 hit an over four-year high on Wednesday, buoyed by gains in mining stocks, while insurer Direct Line plunged after cancelling its final dividend for 2022. The blue-chip FTSE 100 (.FTSE) advanced 0.5%, its highest since August 2018, while the more domestically focused FTSE 250 mid-cap index (.FTMC) gained 0.7%. Fed Governor Michelle Bowman said overnight that the central bank will have to raise interest rates further to combat high inflation. The commodity-heavy FTSE 100 has had a bright start to the year so far, rising for five of the previous six trading sessions, after it outperformed major global peers in 2022 as commodity prices jumped. Reporting by Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Consumer stocks drag FTSE 100 lower amid recessionary jitters
▼ + stars: | 2023-01-10 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.3%, FTSE 250 off 0.4%Robert Walters down on profit warningInvestors await Fed Chair speechJan 10 (Reuters) - Britain's FTSE 100 retreated from a three-and-a-half-year high on Tuesday, led by consumer stocks amid recession worries, after hawkish comments from two U.S. Federal Reserve officials raised worries about future rate hikes. The blue-chip FTSE 100 (.FTSE) declined 0.3%, while the domestically focussed FTSE 250 mid-cap index (.FTMC) fell 0.4%. On Monday, Fed officials said inflation data due later this week would sway the central bank's decision about rate hikes. Among individual stocks, recruiter Robert Walters (RWA.L) slumped 8.1% after the company warned that its full-year profit was expected to be slightly below market expectations. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann Thoppil and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Resources lift FTSE 100 to mid-2019 highs
▼ + stars: | 2023-01-09 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 up 0.2%, FTSE 250 adds 0.4%Game developers fall on bleak outlookAstraZeneca down after $1.8 bln CinCor Pharma dealResources shares rise on China reopening optimismJan 9 (Reuters) - UK's exporter-heavy FTSE 100 hit a more than three-year high on Monday, led by commodity-linked stocks, as China's reopening of its borders reinforced hopes for a rebound in the world's second-largest economy. The blue-chip FTSE 100 (.FTSE) gained 0.2%, hitting its highest since July 30, 2019, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.4%. Industrial metal miners (.FTNMX551020) gained 1.4%, while oil majors Shell (SHEL.L) and BP (BP.L) also advanced as oil prices climbed on China demand prospects after Beijing opened on Sunday borders that have been all but shut since the start of the COVID-19 pandemic. Despite surging inflation and risks of a global recession, the FTSE 100 outperformed major global markets last year due to high exposure to commodity prices. Reporting by Shashwat Chauhan in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 rises on Next boost; recession worries loom
▼ + stars: | 2023-01-05 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) climbed 0.4%, extending gains to a third straight session and outperforming most regional peers. British clothing retailer Next (NXT.L) surged 7.4% after raising its pretax profit forecast for the current year, pushing the broader retailers index (.FTNMX404010) to a more than four-month high. Oil majors BP (BP.L) and Shell (SHEL.L) rose more than 1% each as crude oil prices rebounded amid dollar weakness. Britain's services sector ended 2022 in a lacklustre fashion, with new orders falling and hiring frozen during December, a survey showed, highlighting the likelihood that Britain is already in recession. Reporting by Shashwat Chauhan in Bengaluru; editing by Uttaresh.V and Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 subdued with Sunak speech, Fed minutes in focus
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 flat, FTSE 250 adds 0.3%Jan 4 (Reuters) - The blue-chip FTSE 100 was tepid on Wednesday as British Prime Minister Rishi Sunak is likely to set out his priorities for 2023, while investors also awaited minutes from the U.S. Federal Reserve's meeting to gauge the path forward for interest rates. The exporter-heavy FTSE 100 (.FTSE) held its ground at 7562 points, while the more domestically focused FTSE 250 midcaps (.FTMC) rose 0.3%. Miners of precious (.FTNMX551030) and base metals (.FTNMX551020) took an early lead, rising around 1% as prices rebounded against a weaker U.S. dollar. Investors will parse the minutes to figure out whether more policy tightening is likely. British oil majors BP (BP.L) and Shell (SHEL.L) lost more than 2% each as oil prices fell on China demand woes, while the broader energy index (.FTNMX601010) shed 2.9%.

☆ Oil stocks lift London shares on first trading day of 2023
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 1.4%, FTSE 250 adds 1.3%Jan 3 (Reuters) - UK's exporter-heavy FTSE 100 jumped 1.4% on Tuesday, marking a strong start to the New Year, as energy stocks rallied and investors waited for manufacturing data due later in the day. The blue chip FTSE 100 (.FTSE) rose 1.4% by 0820 GMT after far outperforming regional peers with a 0.9% rise in 2022. The more domestically-focused FTSE 250 midcaps (.FTMC) rose 1.1%, while the broader pan-European STOXX 600 (.STOXX) gained 0.7%. As crude prices rose, oil majors Shell (SHEL.L) and BP (BP.L) gained in early trading, pushing the broader energy sector (.FTNMX601010) up 4.2%. Rolls-Royce (RR.L) rose 4.9% to top the FTSE 100, after Jefferies raised the airplane engine maker to "buy" from "hold".

☆ UK's FTSE 100 slips in last trading session of 2022
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

Summary FTSE 100 down 0.4%, FTSE 250 ticks 0.1% lowerDec 30 (Reuters) - UK's blue-chip FTSE 100 edged lower on Friday as defensive sectors such as healthcare and consumer staples fell, although the index was among the rare bright spots in a year marked by economic worries and political instability. The FTSE 100, which houses several exporters, (.FTSE) slid 0.4%, but was bound for a more than 1% gain for the year. In contrast, the more domestically exposed FTSE 250 (.FTMC) was set to end the year sharply lower with a 19% annual decline. UK markets will see a shortened trading session on Friday and will be closed on Monday for the New Year holiday. Defensive sectors including healthcare (.FTNMX201030), utilities (.FTUB6510) and consumer staples (.FTNMX452010), were among the top losers on FTSE 100, falling between 0.3% and 0.4%.

☆ FTSE 100 falls as consumer, commodity stocks drag on China COVID worries
▼ + stars: | 2022-12-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 eyes worst day in two weeksFalling crude drags oil giants lowerFTSE 100 down 0.4%, FTSE 250 off 0.3%Dec 29 (Reuters) - UK's FTSE 100 fell on Thursday, with energy and consumer stocks leading declines, as optimism over China's reopening fizzled out in the face of surging COVID-19 cases in the world's second largest economy. The blue-chip index (.FTSE), down 0.4%, will post its biggest single day drop in two weeks if losses hold. Commodity prices broadly fell as surging COVID cases in China dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer even as it began dismantling strict COVID curbs. Oil majors BP (BP.L) and Shell (SHEL.L) lost 1.2% and 0.8%, respectively, on Thursday as crude prices fell more than 2%. Consumer stocks such Unilever (ULVR.L) and British American Tobacco (BATS.L) weighed on the FTSE 100, slipping nearly 1%.

☆ UK's FTSE 100 climbs on consumer discretionary boost
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 and FTSE 250 add 0.2% eachDec 21 (Reuters) - UK's FTSE 100 extended gains for the third straight session on Wednesday ahead of the festive weekend, lifted by consumer discretionary stocks led by JD Sports. The FTSE 100 (.FTSE) and the mid-cap FTSE 250 (.FTMC) added 0.2% each. Sportswear firm JD Sports soared 5.8% to the top of the FTSE 100 after its U.S. peer Nike (NKE.N) reported better-than-expected results on Tuesday. Energy stocks (.FTNMX601010) added to gains, rising 0.5% while the pound lost 0.2% by 8:30 GMT. Meanwhile, public borrowing, excluding state-controlled banks, rose to a record 22 billion pounds ($26.73 billion) in November from 14.2 billion pounds in the previous month, reflecting higher costs for energy subsidies.

☆ VIEW Bank of England raises rates to 3.5%, says inflation has peaked
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +7 min

LONDON, Dec 15 (Reuters) - The Bank of England on Thursday raised interest rates by a widely expected 50 basis points (bps) to 3.50%, in its ninth straight increase - and its eighth this year. UK rates began rising in December 2021, making the BoE the first of the world's major central banks to kick off a monetary policy-tightening cycle. MONEY MARKETS: Interest rate swaps showed investors expected rates to peak at 4.46% by next August, compared with an anticipated terminal rate of 4.53% just before the decision. Their own numbers have been pointing to a recession for a little while, and they've still materially hiked interest rates. EDWARD HUTCHINGS, HEAD OF RATES, AVIVA INVESTORS, LONDON:"The Bank of England duly delivered on financial markets expectations of a 0.50% hike.

☆ FTSE 100 tracks glum global sentiment ahead of BoE rate decision
▼ + stars: | 2022-12-15 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.7%, FTSE 250 off 0.6%Currys drops to bottom of FTMCHSBC slumps on shareholder's campaign for spinoffDec 15 (Reuters) - UK's export-driven FTSE 100 fell on Thursday, tracking glum global sentiment, while traders avoided bets on risky assets ahead of the Bank of England's monetary policy decision. The blue-chip FTSE 100 (.FTSE) fell 0.7%, while the FTSE 250 (.FTMC) shed 0.6% by 9:29 GMT. After the Fed's hawkish commentary on Wednesday, traders now await the BoE's monetary policy meeting at 1200 GMT. "The split within the Monetary Policy Committee could give a hawkish edge to the meeting. Besides the 50 basis point hike on Thursday, Koopman expects BoE's terminal rate to be 4.75% by mid-2023.

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. An investor in Wood Group (WG.L), an oilfield services company, urged the company to buy back some of its own shares to avoid being a target. The domestically-focused FTSE 250 (.FTMC) is down by almost a fifth this year while the internationally-focused blue-chip FTSE 100 (.FTSE) is up 0.8% thanks to a drop in the pound. A currency advantage alone does not necessarily kick-start deals though, according to Owain Evans, co-head of UK M&A for Goldman Sachs. "Large corporates continue to look at 'bolt-ons', where they can draw on existing facilities to do those deals, that's why the mid-cap space is attractive to the strategics in this environment," said Celia Murray, head of UK M&A at JPMorgan.

☆ UK's FTSE 100 falls as energy stocks weigh; Man Group lifts midcaps
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.1%, FTSE 250 adds 0.1%Dec 9 (Reuters) - UK's blue-chip FTSE 100 fell on Friday dragged down by energy- linked stocks, while fund manager Man Group led mid-cap shares higher after after announcing a share buy-back programme. The blue-chip FTSE 100 (.FTSE) fell 0.1% by 0853 GMT, while the domestically focused FTSE 250 (.FTMC) mid-cap index added 0.14%. The investment banking and brokerage services index (.FTNMX404010) rose 0.7%, supported by a near 5% jump in Man Group (EMG.L) after it announced a share buyback programme of up to $125 million. The biggest drag on the FTSE 100 were energy firms (.FTNMX601010), which fell 0.9% on subdued crude prices. Anglo American Plc (AAL.L) rose 1.4% after the copper miner said it expects production to rise over the next two years.

☆ UK's FTSE boosted higher by healthcare sector
▼ + stars: | 2022-12-07 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 rose 0.1%, FTSE 250 falls 0.2%GSK escapes U.S. lawsuit on Zantac allegationsMoonpig drops to bottom of FTMCDec 7 (Reuters) - UK's export-oriented FTSE 100 climbed on Wednesday as the healthcare sector was boosted by shares of GSK after the drugmaker escaped U.S. lawsuits over its heartburn drug Zantac. The blue-chip FTSE 100 (.FTSE) edged 0.1% higher by 0930 GMT. The pharmaceutical sector (.FTNMX201030) rose 3.3% in its biggest one-day percentage gain since late February. A nearly 10% jump in shares of GSK Plc (GSK.L) boosted the index after the drugmaker was spared thousands of U.S. lawsuits claiming that Zantac caused cancer. The real estate sector (.FTUB3510) fell 0.2% and is down 34% year-to-date and is heading towards its biggest fall since 2008.

Search resuls for: "FTMC"

25 mentions found