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☆ UK's FTSE 100 nears 6-month high as Powell signals slower hikes
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.2%, FTSE 250 adds 1.2%Dec 1 (Reuters) - UK's FTSE 100 index climbed towards a six-month high on Thursday, extending a strong performance from last month, as investors seized on hints that the U.S. Federal Reserve will scale back the pace of its interest rate hikes. The blue-chip index (.FTSE) edged up 0.2% by 0814 GMT, holding near its strongest level since June 8, although sluggish oil stocks (.FTNMX601010) limited further gains. The domestically focussed FTSE 250 (.FTMC) jumped 1.2%. Bucking the positive mood, oil stocks (.FTNMX601010) fell 1.5% as crude prices dipped with uncertainty lingering ahead of Sunday's OPEC+ meeting. Shares of education group Pearson (PSON.L) fell 3.5% after Exane BNP Paribas downgraded the stock rating to "neutral" from "outperform".

☆ UK's FTSE 100 rises ahead of key Federal Reserve speech
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.3%, FTSE 250 adds 0.3%Nov 30 (Reuters) - The FTSE 100 rose on Wednesday, helped by consumer discretionary and energy stocks, though investors were cautious ahead of U.S. Federal Reserve Chair's speech later in the day. The blue-chip FTSE 100 (.FTSE) gained 0.3% by 0821 GMT and was on track for its best month in two years. Consumer discretionary shares like Flutter Entertainment (FLTRF.L) gained 2.1% after JP Morgan raised the company's price target. Energy stocks (.FTNMX601010) took an early lead, gaining 0.2% as crude oil prices climbed on falling U.S. crude inventories and a weaker greenback. Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 at three-month highs on hopes of China easing COVID curbs
▼ + stars: | 2022-11-29 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) was up 0.6%, hitting its highest since Aug. 26, while the domestically-focused FTSE 250 midcap index (.FTMC) was flat. World markets were rattled on Monday as protests against strict COVID-19 restrictions flared up in major Chinese cities over the weekend. Base metal miners (.FTNMX551020) climbed 2.8%, touching three-month highs, as prices rebounded on support for the property sector in top metals consumer China. Heavyweight energy stocks (.FTNMX601010) rose 1.4% as oil prices climbed on hopes of China easing its COVID controls. Reporting by Shashwat Chauhan in Bengaluru; Editing by Saumyadeb Chakrabarty and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 slips as China COVID protests rattle markets
▼ + stars: | 2022-11-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies China protests drag global markets lowerEnergy, miners slip on lower commodity pricesReal estate down after dour dataFTSE 100 down 0.7%, FTSE 250 off 0.9%Nov 28 (Reuters) - London's FTSE 100 slipped on Monday, with energy and mining stocks leading broad-based losses, as investors globally fretted over China's economic outlook following rare protests in the country against its strict COVID-19 restrictions. The blue-chip FTSE 100 (.FTSE) shed 0.7%, following two weekly gains that lifted the index to its highest levels in more than two months. Energy stocks were the biggest drags in the FTSE 100, with oil majors BP (BP.L) and Shell (SHEL.L) down around 1.5% each. Commodity prices dipped on worries about demand from top consumer China where protests against strict COVID-19 restrictions flared up. "It's a very hard thing to price, even the markets are not used to seeing demonstrations in China," said Chris Beauchamp, chief market analyst at IG Group.

☆ FTSE 100 flat as housing, retail stocks weigh
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 flat, FTSE 250 off 0.5%Nov 25 (Reuters) - The FTSE 100 was flat on Friday, with gains in defensive healthcare and consumer stocks offsetting weakness in retail stocks as Black Friday sales began against a backdrop of a worsening cost-of-living crisis. The blue-chip FTSE 100 (.FTSE) was flat by 0851 GMT, but set to end with sharp weekly gains on hopes of smaller rate hikes from the U.S. Federal Reserve. Diageo (DGE.L), British American Tobacco (BATS.L) and GSK (GSK.L) supported the FTSE 100, as investors snapped up defensive stocks that tend to perform well in a slowing economy. Retail stocks (.FTNMX404010) dropped 0.4% on Black Friday, which typically marks the beginning of the holiday shopping season. The domestically focused FTSE 250 midcaps (.FTMC) slid 0.5%.

☆ UK stocks track gains in Europe, Dr. Martens sinks on profit warning
▼ + stars: | 2022-11-24 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) rose 0.3% in thin trading as U.S. markets were shut for the Thanksgiving holiday. The domestically focused FTSE 250 midcaps (.FTMC) rose 0.7%, also reflecting the upbeat mood in equity markets. A weak spot was Dr. Martens (DOCS.L), which tumbled 20% and looked set for its biggest percentage drop ever, after warning that its annual core profit margin would be lower than last year. UK stock markets have recovered sharply since a botched mini-budget roiled sentiment in October, with investors hoping that measures by the new government will help instil confidence even as Britain faces what is expected to be a lengthy recession. Shares of Vodafone , Imperial Brands (IMB.L) and National Grid (NG.L) slid as they traded without entitlement for dividend payout.

☆ Commodity stocks support FTSE 100 ahead of PMI data
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Energy, miners lead gainsJohnson Matthey down on lower profitsFTSE 100 up 0.4%, FTSE 250 off 0.3%Nov 23 (Reuters) - Commodity-linked stocks lifted the FTSE 100 on Wednesday, as investors awaited UK's business activity data and the U.S. Federal Reserve's meeting minutes that could offer clues on the pace of monetary policy tightening. The blue-chip FTSE 100 (.FTSE) rose 0.4%, touching a fresh two-month high. Energy stocks climbed (.FTNMX601010) 1.5% as crude oil prices inched higher on data showing a larger-than-expected U.S. crude drawdown. Asian and European markets were steady as investors looked to the release of the Fed's November meeting minutes amid hopes that the central bank will shift to smaller interest rate hikes. The domestically focused FTSE 250 midcaps (.FTMC) lost 0.3%, with Johnson Matthey (JMAT.L) shedding 7.2% after the chemicals maker reported a slightly lower half-yearly profit.

☆ FTSE 100 hits two-month high as oil stocks rebound
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.6%, FTSE 250 off 0.2%Nov 22 (Reuters) - The FTSE 100 jumped to a two-month high on Tuesday, as oil stocks bounced back following a bullish brokerage recommendation and news that OPEC+ members were not discussing an oil output increase. The commodities-heavy FTSE 100 (.FTSE) rose 0.6% to its strongest level since Sept. 13. Oil majors Shell and BP (BP.L) jumped 2.9% and 4.8% as crude prices , gained after Saudi Arabia's energy minister denied a report that said OPEC oil producers were discussing a potential output increase. Meanwhile, Citigroup raised BP's rating to "buy" from "neutral" and said it expects the rotation into energy stocks to continue. The more domestically focused FTSE 250 midcaps (.FTMC) slipped 0.2%, reflecting a cautious mood in the equities market on concerns about aggressive rate hikes and slowing economic growth.

☆ FTSE 100 slides as weaker commodity prices weigh
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.3%, FTSE 250 off 0.3%Nov 21 (Reuters) - The FTSE 100 slipped on Monday, dragged by weakness in commodity-linked stocks, as COVID-19 curbs in top metals consumer China and a stronger dollar weighed on the global mood. The blue-chip FTSE 100 (.FTSE) fell 0.3%, after notching its strongest close in over two months on Friday. UK's energy sector (.FTNMX601010) slipped 0.6% on the back of falling oil prices , as a slew of COVID-related curbs in China sparked demand fears. Meanwhile, industrial metal miners (.FTNMX551020) shed 1.8% as worries about slowing demand from the world's second largest economy hit metal prices including those of copper. Energy and materials stocks combined weigh more than 25% on the FTSE 100.

☆ Instant View: UK finance minister Jeremy Hunt outlines budget
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +5 min

Much of Hunt's budget had been widely expected, meaning markets offered a muted reaction. Sterling fell against the dollar, while UK government bond prices also eased, but remained clear of the day's lows. FOREX: Sterling fell 0.9% against the dollar to $1.1809 from $1.1845 prior to the budget. MARCUS BROOKES, CHIEF INVESTMENT OFFICER AT QUILTER INVESTORS, LONDON:"Today’s Autumn Statement has painted a bleak picture for the UK... Markets originally reacted well to the steady hand of Jeremy Hunt. SIMON HARVEY, HEAD OF FX ANALYSIS, MONEX EUROPE, LONDON:"The austerity’s going to be welcome (to the Bank of England) purely because there’s going to be less support for UK consumers.

☆ Britain's budget: What you need to know
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 17 (Reuters) - Finance minister Jeremy Hunt will bury Britain's failed "Trussonomics" experiment on Thursday by cutting spending and raising taxes, moves that he and Prime Minister Rishi Sunak say are needed to restore investor confidence. He has warned of "tough but necessary" measures in the budget on top of the reversal of most of the unfunded tax cuts promised by former Prime Minister Liz Truss and which rapidly brought her down. * Britain's economy is still below its pre-COVID size and is probably already in recession, with 11% inflation creating a cost-of-living crisis. * "We need fiscal and monetary policy to work together" to beat inflation, Hunt will say. * The independent Office for Budget Responsibility (OBR) will report on the state of public finances after Hunt speaks.

LONDON, Nov 15 (Reuters) - The moment of truth is almost here for Britain's new prime minister Rishi Sunak and finance minister Jeremy Hunt. British markets have regained some poise after the carnage triggered by September's fiscal statement, but as the UK slips into recession, the outlook is far from rosy. Here's a look at some of the likely winners and losers from Thursday's budget. "Domestic UK equities are being treated with caution by investors both domestically and internationally," he said. snapshotA CRUDE TARGETEnergy companies have reported bumper profits this year, thanks to soaring crude oil and gas prices.

☆ FTSE 100 rises on Informa boost; pound weakens
▼ + stars: | 2022-11-14 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies Media stocks lead sectoral gainsIndivior up on deal to buy Opiant PharmaUK budget, due later in the week, in focusFTSE 100 up 0.4%, FTSE 250 falls 1.2%Nov 14 (Reuters) - UK's export-oriented FTSE 100 climbed on Monday, lifted by events organiser Informa's over 5% jump and a weaker pound. The FTSE 100 (.FTSE) was up 0.4% by 0941 GMT. The company's announcement of raising its full-year earnings outlook pushed the broader FTSE 350 media index (.FTNMX403010) 1.0% higher. Among other stocks, Indivior (INDV.L) gained 0.9% after it said it would acquire Opiant Pharmaceuticals for approximately $145 million in cash. The domestically-focused FTSE 250 midcap index (.FTMC) dropped 1.2% after marking its biggest weekly gain in almost two years on Friday.

☆ Analysis: Heavily discounted UK Plc may have further to fall
▼ + stars: | 2022-11-09 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

Hani Redha, global multi-asset portfolio manager at U.S. investment firm PineBridge, said that UK valuations do not look cheap when looking at a multi-year timeframe and the "structural issues facing the UK economy". UK stocks (.FTAS) are already trading at a record discount to their global peers (.MIWD00000PUS), Refinitiv data shows, but investors expect new lows next year. UK discountThe domestic-orientated FTSE 250 mid-cap index (.FTMC) has broken three consecutive quarterly declines after new Prime Minister Rishi Sunak dumped most of his predecessor's market-crushing fiscal plan. Half of all borrowing by UK non-financial companies is in dollars, totalling about 350 billion pounds ($399.5 billion), according to S&P Global. "Bearing in mind in what state the UK economy is right now, I would stay clear of UK small-caps," he said.

☆ FTSE inches lower amid global caution; M&S slips on cost warning
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.3%, FTSE 250 off 0.3%Nov 9 (Reuters) - UK's blue-chip shares edged lower on Wednesday amid a cautious global mood as investors awaited the outcome of U.S. midterm elections, while Marks & Spencer fell after the retailer warned of higher costs. The export-oriented FTSE 100 (.FTSE) fell 0.3% by 0829 GMT, while the domestically-oriented FTSE 250 (.FTMC) also shed 0.3%. Global markets were subdued as investors braced for U.S. inflation data due this week and eyed results of midterm polls that could signify a power shift in Washington. Marks & Spencer (MKS.L) dropped 1.2% as it warned of a "gathering storm" of higher costs and pressure on household budgets, and reiterated full-year profits would fall. Reporting by Johann M Cherian in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.

☆ Miners, energy stocks drag FTSE 100 as China upholds COVID policy
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.5%, FTSE 250 off 0.1%Nov 7 (Reuters) - UK's export-oriented FTSE 100 started the week on a lacklustre note, dragged down by energy and mining stocks, as China dampened hopes of a rebound in commodity demand after it reiterated its zero-COVID policy to curb outbreaks. The blue-chip FTSE 100 (.FTSE) fell 0.5% on Monday, while the mid-cap FTSE 250 (.FTMC) was down 0.1% by 0808 GMT. Energy stocks (.FTNMX601010) and miners (.FTNMX551030) were off 1.1% and 0.2%, respectively, tracking commodity prices that were hit as stringent COVID-19 curbs darkened demand outlook from China. METL/Mortgage lender Halifax said British house prices fell in October at the fastest monthly rate since February 2021. Reporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ VIEW Bank of England lifts UK rates to 3% in historic hike
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Toby MelvilleLONDON, Nov 3 (Reuters) - The Bank of England raised UK interest rates to 3% on Thursday in its largest rate hike since 1989 and warned of a "very challenging outlook" for the economy. Money markets showed traders now expect UK rates to peak at 4.6% by next September, compared to expectations of 4.8% just two days ago. UK bank stocks (.FTNMX301010) fell 0.8%BONDS: Yields on the two-year gilt were last up 1 basis points at 3.041%, compared with 3.064% before the BoE announced its decision. Rates markets are pricing another 50bps hike at each of the December and February meetings, although still reflect a lower terminal rate than just a week ago. ANDREW ALDRIDGE, PARTNER AT DEEPBRIDGE CAPITAL, LONDON"Quelling rampant inflation and kickstarting a slowing economy left the Bank facing a difficult balancing act, with today's interest rate hike to 3% hardly surprising in this context.

☆ FTSE 100 steady, midcaps fall ahead of key Fed meeting
▼ + stars: | 2022-11-02 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

UK pharmaceuticals stocks (.FTNMX201030) rose 1.2% after GSK (GSK.L) said it expects sales to rise between 8% and 10%, sending its shares up 1.2%. The blue-chip FTSE 100 (.FTSE) was flat, while the mid-cap FTSE 250 (.FTMC) fell 0.4% by 0934 GMT, dragged down by budget airline Wizz Air (WIZZ.L) after it said uncertainty for consumers rose. Third-quarter earnings among companies on the FTSE 100 have so far painted a mixed picture, as some firms performed better than expected as COVID restrictions eased globally, while some battled supply chain snags and surging inflation. British American Tobacco Plc fell 3%, to the bottom of FTSE 100, after Goldman Sachs downgraded its performance rating for the stock to "neutral". Reporting by Johann M Cherian in Bengaluru; Editing by Dhanya Ann Thoppil and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Commodity stocks boost UK shares to near seven-week high
▼ + stars: | 2022-11-01 | by ( Anisha Sircar | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 up 1.6%, FTSE 250 adds 1.6%Ocado surges on partnership deal with Lotte ShoppingUK house prices fall after 'mini-budget' turmoilNov 1 (Reuters) - UK's FTSE 100 hit its highest level in nearly seven weeks on Tuesday as commodity stocks rallied ahead of a key U.S. Federal Reserve verdict, while BP turned choppy after hitting a 2-1/2 year high following its results. The blue-chip FTSE 100 (.FTSE) jumped 1.6%, while the domestically oriented FTSE 250 (.FTMC) rose 1.6%. UK's energy (.FTNMX601010) and mining shares (.FTNMX551020) climbed 1.0% and 3.9%, respectively, tracking stronger commodity prices. Focus was on U.S. and UK policy decisions on Wednesday and Thursday, respectively, with both central banks expected to raise rates by 75 basis points. read moreOcado Group (OCDO.L) jumped 32.7% after the online supermarket group announced a partnership deal with Lotte Shopping (023530.KS).

☆ Commodity stocks, Natwest drag FTSE 100 lower
▼ + stars: | 2022-10-28 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.7%, FTSE 250 off 1.2%Natwest falls to bottom of FTSE 100Glencore cuts core earnings guidanceOct 28 (Reuters) - UK's FTSE 100 fell on Friday, as commodity-linked stocks dropped on worries about widening COVID-19 curbs in China, while Natwest slumped after reporting a flat third-quarter profit. The exporter-heavy FTSE 100 (.FTSE) fell 0.7%, with mining (.FTNMX551020) and energy (.FTNMX601010) stocks shedding 2.8% and 0.7%, respectively, as oil and metal prices slid after top consumer China expanded COVID-19 restrictions. "I'm not surprised because the government here is desperate to find sources of revenue," said Stuart Cole, head macro economist at Equiti Capital. "Investors are now concerned about the government taxing the significant sources of revenue that banks and energy companies have been earning." Shares of NatWest (NWG.L) dropped 7.8% to the bottom of FTSE 100 after the company reported a flat quarterly profit, blaming bad loan charges from a worsening economic outlook and the cost of exiting its Irish business.

☆ UK stocks rise as investors count on upbeat earnings
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

The blue-chip FTSE 100 (.FTSE) rose 0.2%, extending gains to hit a three-week high, while the mid-cap FTSE 250 (.FTMC) up 0.4% by 0724 GMT. Shell PLc (SHEL.L) rose 2.7% as the oil heavyweight said it would sharply boost dividend after reporting a third-quarter profit of $9.45 billion, which came in slightly ahead of expectations. read moreShares of Lloyds Banking Group (LLOY.L) gave up 1.7% after the lender posted a decline in third-quarter pre-tax profit due bad loan charges. read moreThe broader European index (.STOXX) shed 0.3%, as investors cautiously await a likely 75-basis-point rate hike by the European Central bank around 1215 GMT. read moreReporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Technology stocks (.SX8P) fell 1.8% to lead sectoral losses in Europe after their U.S. peers were dragged down by weak results from Microsoft Corp (MSFT.O) and Alphabet Inc (GOOGL.O). The European banking index (.SX7P) fell 0.7%. read moreItaly's UniCredit (CRDI.MI) was a rare bright spot as its shares rose 3.9% after the bank raised its 2022 profit goal. "Nonetheless, we are likely to see some hesitation, with the economic implications of rising interest rates yet to be felt. read moreReporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur and Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 dips as mixed earnings offset Sunak-driven optimism
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

The FTSE 100 index (.FTSE) was down 0.1% by 0747 GMT, while the midcap FTSE 250 (.FTMC) rose 0.2%. Shares of WPP (WPP.L) dropped 3.6% to the bottom of FTSE 100 after the group tempered its expectations for operating margin growth, and Reckitt Benckiser (RKT.L) slumped 3.2% despite providing a positive sales outlook. read moreSunak said he would try to fix the mess left by his predecessor, restore trust in British politics and tackle a "profound economic crisis". Shares of Standard Chartered (STAN.L) and Barclays (BARC.L) slipped even as both the lenders reported higher quarterly profit. read moreReporting by Johann M Cherian in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ UK stocks hit by weak retail sales, rising yields
▼ + stars: | 2022-10-21 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 index (.FTSE) fell 1.0%, while the midcap FTSE 250 (.FTMC) slipped 1.6%. Truss quit on Thursday after the shortest and most chaotic tenure of any British prime minister, forced out after her unfunded tax cut proposals crashed the pound and sent British borrowing costs soaring. Former finance minister Rishi Sunak, Penny Mordaunt and former prime minister Boris Johnson are among the likely candidates. UK's retail index (.FTNMX404010) fell 4.1%, heading towards a more than two-year low hit last week. read moreMeanwhile, U.S. and European government bond yields surged further as investors priced in aggressive policy tightening by the Federal Reserve.

☆ Political uncertainty, rising rates weigh on UK stocks
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.2%, FTSE 250 off 0.3%Oct 20 (Reuters) - Worries over a deepening political crisis in the UK and rising interest rates globally kept London's main stock indexes under pressure on Thursday, with shares of homebuilders edging toward a multi-year low hit recently. UK's housing index (.FTNMX402020), which hit a near decade low last week, slipped 1.5% as rising interest rates fuelled concerns about affordability and a sharp slowdown in the sector. The blue-chip FTSE 100 (.FTSE) slipped 0.2% by 0715 GMT, while the midcap FTSE 250 index (.FTMC) dropped 0.3%. read moreA bright spot was luxury goods maker Burberry (BRBY.L), up 1.7%, after French peer Hermes (HRMS.PA) reported a sharp rise in sales growth. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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