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☆ FTSE 100 extends gains, UK inflation back at 40-year high
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 down 0.2%Oct 19 (Reuters) - UK's blue-chip index edged higher on Wednesday after a strong Wall Street session driven by earnings optimism, although data showed UK inflation hit a 40-year high again, highlighting persistent price pressures that have hurt consumer spending. The FTSE 100 index of top UK companies (.FTSE) rose 0.1% by 0714 GMT, entering its fifth day of gains, aided by a historic reversal of the new government's failed fiscal plan that had battered the bond markets. Meanwhile, futures signalled a strong start for U.S. stocks after Netflix Inc (NFLX.O) projected more growth ahead. The wider banking index (.FTNMX301010) was down 0.4%, while the investment banking & brokerages index (.FTNMX302020) dropped 0.7%. The domestically exposed FTSE 250 index (.FTMC) slipped 0.2% after a four-day winning run.

☆ London stocks hit over one-week highs on UK policy reversal optimism
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 up 0.8%, FTSE 250 adds 0.7%Oct 18 (Reuters) - UK's blue-chip and mid-cap indexes hit their highest levels in more than a week on Tuesday, lifted by a historic reversal of the government's unfunded tax cut plans and earnings optimism that boosted Wall Street indexes overnight. The blue-chip FTSE 100 (.FTSE) gained 0.8% by 0713 GMT and the mid-cap FTSE 250 (.FTMC) rose 0.7%. The FTSE 100 hit its highest since Oct. 10, while the FTSE 250 rose to a level not seen since Oct. 7. U.S. stock indexes closed sharply higher on Monday after Bank of America posted solid results, spurring earnings optimism. Its shares had hit an eight-year low recently as homebuilders came under pressure from concerns about surging mortgage rates denting affordability.

The blue-chip FTSE 100 (.FTSE) closed 0.24% up and the domestically focussed FTSE 250 (.FTMC) ended 0.15% higher. "At the end of the day, the UK government blinked, while the BoE has seen its credibility restored," said Darby. He added that there is room for a sizeable change in sentiment towards domestically exposed FTSE 250 which had been battered recently. Shell (SHEL.L) is among a number of companies joining a second bidding round to acquire Danish biogas producer Nature Energy, for around $2 billion sources familiar with the matter said, as energy firms race to boost low-carbon businesses. Bellway Plc (BWY.L) slipped 2.2% as the homebuilder warned of moderating demand, pressured by rising mortgage rates.

☆ FTSE 100 climbs ahead of Hunt's fiscal plans
▼ + stars: | 2022-10-17 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 index (.FTSE) gained 0.5%, while the domestically focussed FTSE 250 index (.FTMC) climbed 0.6%. The pound jumped 0.8% and government bonds rallied ahead of Hunt's announcement at 1000 GMT, which is expected to detail plans to raise taxes and spend lesser than previously planned. read more read moreRegister now for FREE unlimited access to Reuters.com Register"The markets have reacted positively to Hunt's expedited timeline, which alleviates some of the fiscal uncertainty," said Victoria Scholar, head of investment at Interactive Investor. Truss on Friday reversed some of the tax cut measures, and replaced Kwasi Kwarteng with Hunt. Meanwhile, the Bank of England (BoE) on Friday concluded its emergency bond purchases aimed at supporting the gilts market.

The blue-chip FTSE 100 index (.FTSE) ended 0.9% higher, while the domestically focussed FTSE 250 index (.FTMC) closed 2.8% up. Both the indexes logged their third-straight day of gains, with the latter up more than 5%. Under the new policy, most of Truss's 45 billion pounds of unfunded tax cuts will go and a two-year energy support scheme for households and businesses - expected to cost well over 100 billion pounds - will now be curtailed in April. Register now for FREE unlimited access to Reuters.com RegisterHunt, who replaced Kwasi Kwarteng, said halting the planned tax cuts would raise 32 billion pounds ($36 billion) every year. Traders are now seeing a 68.2% chance of a 100 basis points hike at the central bank's Nov. 3 meeting.

☆ British pound and gilts soar after Hunt rolls back tax cuts
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +9 min

Jeremy Hunt on Friday replaced Kwasi Kwarteng, who Prime Minister Liz Truss sacked following the so-called "mini-budget" on Sept. 23 that sent UK assets sliding. Hunt on Monday announced a series of tax changes that he said would raise 32 billion pounds ($36.19 billion) a year in extra revenues. STERLING: The pound rose against the dollar and the euro, gaining 1.1% and 0.7%, respectively , . So the UK is not the outlier when it comes to its monetary policy and its fiscal policy. STUART COLE, HEAD MACRO ECONOMIST, EQUITI CAPITAL, LONDON:"I think it would be a brave person to be buying sterling quite yet.

☆ FTSE rallies on hopes of fiscal plan reversal
▼ + stars: | 2022-10-14 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 (.FTSE) gained 0.9%, while the domestically focussed FTSE 250 (.FTMC) added 0.9%. Both indexes have recouped a large part of their losses this week but remain on track to record their fourth weekly decline in five. However, futures point to a weak start for U.S. stocks on Friday, with investors nervously awaiting quarterly reports from big Wall Street banks. read moreEmerging markets-focussed investment group Ashmore (ASHM.L) dipped 2.6% after reporting an $8 billion fall in assets under management for the September quarter. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 extends losing run to seventh day as homebuilders drag
▼ + stars: | 2022-10-13 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

SummarySummary Companies FTSE 100 on longest losing streak since July 2019Taylor Wimpey down on ex-dividend tradingHousing stocks hover at near decade-lowsFTSE 100 down 0.5%, FTSE 250 off 0.1%Oct 13 (Reuters) - UK's FTSE 100 extended its losing run to a seventh straight session on Thursday, as homebuilders took a fresh hit after data showed slowing house prices, while investors were cautious ahead of U.S. inflation data later in the day. The blue-chip FTSE 100 index (.FTSE) fell 0.5%, setting it up for its longest losing streak since July 2019. The midcap FTSE 250 (.FTMC) slipped 0.1% to hold near May 2020 lows. "Add to that all the confidence issues about the direction of fiscal and monetary policies (and) it's a pretty poisonous combination." read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ UK stocks extend losses, BoE measures eyed to stem bond rout
▼ + stars: | 2022-10-11 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

Meanwhile, shares of pension providers such as Legal & General (LGEN.L), Prudential (PRU.L) and Aviva (AV.L) fell between 2.3% and 3.3%. UK's banking index (.FTNMX301010) was down 1.6% at a one-week low despite prospects of a large rate hike by the BoE next month. However, the internationally focussed FTSE 100 has outperformed UK's domestically exposed FTSE 250 (.FTMC) this year, as a weakening pound and strength in commodity prices boosted the former. The FTSE 100 has shed 6.8% so in 2022, while the midcap index has lost about 28% - set for its worst annual performance since 2008. Ukraine-focused miner Ferrexpo Plc (FXPO.L) fell 9.1%, as it temporarily suspended production after Russian missile attacks damaged state-owned electrical infrastructure.

☆ London stocks slide as fiscal policy concerns weigh; Next drops
▼ + stars: | 2022-09-29 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) was down 1.8%, while the more domestically-oriented FTSE 250 (.FTMC) shed 2.1%, by 0823 GMT. Shares of Next (NXT.L) slid 8.7% after it cut profit and sales forecasts, saying August trading was below expectations and cost of living pressures were set to rise in the coming months. It's indicative that the tighter monetary policy gets the far more damage it will do to UK consumers, UK spending and the UK economy." The FTSE 100 has lost 6.6% so far this year. Among other stocks, British American Tobacco (BATS.L) fell 3.1% in ex-dividend trading, while Synthomer (SYNTS.L) tanked 32.6% after it lowered its annual profit outlook.

☆ London stocks slide amid economic "tug-of-war"
▼ + stars: | 2022-09-28 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

The blue-chip index (.FTSE) dropped 1.6%, while the more domestically oriented FTSE 250 (.FTMC) shed 2.5%. The International Monetary Fund (IMF) and ratings agency Moody's criticised Britain's new economic strategy, with the latter warning that unfunded UK tax cuts would be "negative" for the country's credit standing. read more"There is an economic tug-o-war taking place between the Bank of England and the government," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Burberry Group (BRBY.L) rose 4.1% after announcing Daniel Lee would be its new chief creative officer, replacing Riccardo Tisci, who is stepping down. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Johann M Cherian in Bengaluru; editing by Uttaresh.V and Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

The blue-chip index (.FTSE) slipped 0.3% after dropping as much as 2.1% earlier in the session, while the more domestically focused FTSE 250 (.FTMC) eased 1.4%. The Bank of England said it would buy as many long-dated government bonds as needed between now and Oct. 14 to stabilise financial markets. read moreThe battered pound briefly dropped as much as 1% against the dollar, before paring some losses. Retailers (.FTNMX404010) slipped 0.5%, with online fashion retailer Boohoo Group (BOOH.L) slumping 6.4% after it cut its full-year outlook. read moreBurberry Group (BRBY.L) rose 4.3% after announcing Daniel Lee would be its new chief creative officer, replacing Riccardo Tisci, who is stepping down.

☆ Stocks pull off 2020 lows, Bank of England steps in to calm UK bond market
▼ + stars: | 2022-09-28 | by ( Amanda Cooper | Harry Robertson | ) www.reuters.com time to read: +5 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. The BoE said it would temporarily buy long-dated bonds - linked most closely to workers' pensions and home loans - in light of a surge in 30-year bond yields above 5%, their highest since 2002. "The surge in bond yields threatens the housing market and broader economy. The MSCI All-World index was last down 0.5%, having pulled off a session trough that marked its lowest since November 2020. "The Bank of England is restoring some calm to the markets.

☆ Sterling sinks to new low as 'mini budget' hits investor faith in UK markets
▼ + stars: | 2022-09-26 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

read moreOn Friday, he announced that he would cut a raft of taxes, but he did not detail how the government would fund it. , read moreIn light of the rout, strategists and economists said the Bank of England needs to do something to calm markets and restore credibility. The FTSE 100 (.FTSE) was roughly flat on the day, while the domestically focussed FTSE 250 (.FTMC) fell 1%. '1980S ON STEROIDS'Paul Dales, Capital Economics chief UK economist, said the central bank needed to take action. "The market is now treating the UK as if it's an emerging market.

☆ FTSE 100 gains as weak pound lifts export-heavy consumer staples
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/SummarySummary Companies FTSE 100 up 0.5%, FTSE 250 off 0.7%Sept 26 (Reuters) - London's FTSE 100 index rose on Monday, led by shares of dollar-earning consumer staple companies after sterling tumbled to record low on worries the new government's economic plan will stretch Britain's finances to the limit. The export-oriented FTSE 100 (.FTSE) gained 0.5%, while the more domestically oriented FTSE 250 (.FTMC) declined 0.7%. Consumer staples like Unilever (ULVR.L) and British American Tobacco (BATS.L) added 3.5% and 1.1%, respectively. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Johann M Cherian in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE slides as UK's mini budget fails to soothe recession worries
▼ + stars: | 2022-09-23 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. read moreThe internationally focussed FTSE 100 (.FTSE) extended losses, falling 1.6% to its lowest since July 15, while the domestically focussed FTSE 250 index (.FTMC) dropped 1.1% to hit near two-year lows. It is among UK's worst performing sectors this year as rising rates sparked worries about affordability. read moreOil (.FTNMX601010) and mining (.FTNMX551020) majors were the biggest drags on the FTSE 100 as commodity prices weakened against a strong dollar. read moreSmiths Group (SMIN.L) rose 4.1% after the industrial technology group provided upbeat full-year 2023 forecast.

☆ London stocks fall with eyes on BoE meet after Fed's big rate hike
▼ + stars: | 2022-09-22 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The blue-chip FTSE 100 index (.FTSE) fell 0.4% and the domestically focussed mid-cap index (.FTMC) declined 1.0%, tracking weakness in European and Asian peers. read moreBanks (.FTNMX301010) and insurers (.FTNMX303010) fell 0.6% and 0.4%, respectively, weighing on the benchmark FTSE 100 index. So going forward, as the BoE continues to hike rates, it could be negative for bank stocks." Meanwhile, the sterling pared early losses after briefly hitting a new 37-year low against a firm dollar.

☆ Oil stocks lift London's FTSE 100 amid Russia angst as Fed looms
▼ + stars: | 2022-09-21 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The benchmark FTSE 100 (.FTSE) rose 0.5%, while the domestically focussed mid-cap index (.FTMC) added 0.3% by 0817 GMT. Oil majors BP (BP.L) and Shell (SHEL.L) climbed nearly 2.5% each as crude prices jumped on concerns of tighter oil and gas supply after Russian President Vladimir Putin announced a partial military mobilisation. Register now for FREE unlimited access to Reuters.com RegisterBritain's biggest defence company BAE Systems jumped 5.3%, tracking its European peers, after Putin's remarks. "Investors will be looking at defence stocks and thinking about the potential that governments will look to increase their spend on weapons and on military hardware," said Danni Hewson, financial analyst at AJ Bell. The sterling dipped to its lowest against the U.S. dollar since 1985 after data showed Britain's budget deficit was bigger than expected in August.

☆ Energy, consumer staples lift London's FTSE 100 in big week for central banks
▼ + stars: | 2022-09-20 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterThe London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The commodity-heavy FTSE 100 (.FTSE) advanced 0.2% at 0809 GMT after a holiday to mark Queen Elizabeth's funeral, supported by a more than 1% jump in oil majors BP (BP.L) and Shell (SHEL.L). Consumer staples stocks such as Diageo (DGE.L) and British American Tobacco (BATS.L) rose about 1.5% each on the internationally focussed FTSE 100. "The move today on the FTSE 100 shows just how sensitive the index is to the economy in China," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

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