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AI Daily 5 entries
LONDON MARKET CLOSE: Sell-off deepens as US threatens extra China levy
- Global equities suffered significant losses on Monday, with major indices in the UK, Europe, and the US experiencing sharp declines.
- The FTSE 100 and FTSE 250 fell by 4.4% and 3.3%, respectively, while the AIM All-Share lost 2.5%.
- US President Donald Trump's threat of additional tariffs on China and his termination of trade talks weighed heavily on markets.
- London fallers included Melrose, Haleon, Sage, and AstraZeneca, while Taylor Wimpey and Howden Joinery rose on hopes of lower interest rates.
- European markets also saw substantial declines, with the CAC 40 and DAX 40 down 4.8% and 4.1%, respectively.
- US markets experienced volatility, with the DJIA, S&P 500, and Nasdaq Composite all ending the day lower despite a brief rally on tariff pause rumors.
- Criticism of Trump's tariff policy rollout grew, with business leaders and investors expressing concern over its potential impact on the US economy.
- UK Prime Minister Keir Starmer called for "cool heads" and emphasized the need for global trade deals to reduce barriers.
- European Commission President Ursula von der Leyen offered a bilateral tariff exemption to the US to avert a trade war.
- Shell fell 5.7% after announcing lower natural gas production and LNG volumes for Q1 2025 due to maintenance and weather issues.
- Tuesday's economic calendar includes French trade data, with full-year results from Staffline and Hilton Food Group.
LONDON MARKET MIDDAY: Hang Seng hits historic low on trade war fears
- Stock prices in London were down across the board at midday on Monday, with the FTSE 100, FTSE 250, and AIM All-Share all posting losses of around 3-4%.
- This follows global concerns over US President Donald Trump's tariffs and their potential impact on international trade.
- The biggest large-cap 'winner' was Entain, down only 0.2%, while Melrose Industries remained the worst performer, down 7.7%.
- The FTSE 100 dropped by about 5% to a one-year low in early trading, as fears deepen over the global impact of Trump's tariffs.
- UK Prime Minister Keir Starmer has promised new measures to support manufacturers, including relaxing rules around fines for manufacturers who do not sell enough electric cars and exempting supercar firms.
- European equities also saw losses, with the CAC 40 in Paris and the DAX 40 in Frankfurt both down 4.4%.
- Retail sales growth in the eurozone outperformed annual market expectations but fell short on a monthly basis.
- Goldman Sachs has warned that the US faces a recession if most of Trump's tariffs take effect, lowering its 2025 GDP growth forecast to 0.5% and raising its 12-month recession probability to 45%.
- Brent oil and gold prices were quoted lower at midday in London.
LONDON BROKER RATINGS: Barclays upgrades Mondi; RBC ups Currys target
- FTSE 100
- Goldman Sachs cuts GSK price target to 1,640 (1,680) pence - 'neutral'
- Barclays cuts Sage price target to 1,065 (1,080) pence - 'underweight'
- Barclays cuts Pearson price target to 1,245 (1,330) pence - 'equal weight'
- Barclays raises Mondi to 'equal weight' (underweight) - price target 1,100 (1,110) pence
- Jefferies raises Barratt Redrow price target to 572 (536) pence - 'buy'
- Jefferies raises Taylor Wimpey price target to 177 (175) pence - 'buy'
- FTSE 250
- RBC cuts Pets At Home price target to 210 (220) pence - 'underperform'
- RBC cuts WH Smith price target to 1,300 (1,450) pence - 'outperform'
- RBC raises Currys price target to 130 (125) pence - 'outperform'
- Peel Hunt cuts Watches of Switzerland price target to 400 (500) pence - 'hold'
- JPMorgan cuts Aberdeen price target to 164 (171) pence - 'neutral'
- Jefferies raises Crest Nicholson price target to 217 (216) pence - 'buy'
- Jefferies raises Bellway price target to 3,732 (3,597) pence - 'buy'
LONDON MARKET OPEN: China vows to remain "safe" for foreign investors
- London's stock prices opened low on Monday as EU ministers prepare to discuss strategies regarding US tariffs.
- The FTSE 100, FTSE 250, and AIM All-Share all experienced losses, with the biggest loser being Melrose, down 9.3%.
- Shell fell 7.5% due to lower natural gas production and liquefied natural gas volumes.
- LondonMetric reported asset sales but still lost 2.3%, while Berkeley Group was the top performer among large caps, down 1.7%.
- On the FTSE 250, Ruffer Investment led with a 0.6% rise, while Senior lost 11% and Ferrexpo fell 8.9%.
- Catenai surged 21% on AIM, expecting a repayment from its investment in Klarian Ltd.
- European equities also saw losses, with the CAC 40 and DAX 40 down 6.1% and 7.3%, respectively.
- EU trade ministers are meeting to discuss strategies to negotiate with the US and potentially retaliate with reciprocal tariffs.
- China's vice commerce minister, Ling Ji, vowed to protect US firms and attract foreign investment, despite Beijing's tariffs on US imports.
- Asian markets experienced significant losses, with the Nikkei 225, Shanghai Composite, and Hang Seng index all down over 7%.
- Wall Street ended lower on Friday, with the Dow Jones, S&P 500, and Nasdaq Composite all losing over 5%.
- Brent oil and gold prices were quoted lower on Monday.
LONDON MARKET EARLY CALL: Stocks down as US levies come into force
- London stocks are expected to open lower on Monday due to ongoing concerns related to US tariffs.
- SPI's Stephen Innes warns of a "full-spectrum macro escalation" beyond a trade war, impacting global confidence and currency stability.
- US President Donald Trump's levies on British imports have come into force, with a 10% tariff on US goods and a 25% tariff on foreign car imports.
- Prime Minister Keir Starmer pledges to protect the UK's national interest and support businesses through industrial policy.
- Futures predict a 1.9% decline for the FTSE 100 index at the opening, following a 5.0% drop on Friday.
- Sterling and the euro are both lower against the US dollar on Monday morning.
- Wall Street closed lower on Friday, with the Dow, S&P 500, and Nasdaq all down over 5%.
- Asian markets also experienced significant declines on Monday, with the Nikkei, Shanghai Composite, Hang Seng, and S&P/ASX indices all down sharply.
- Gold and Brent oil prices have decreased since Friday.
- Ferrexpo is scheduled to release a trading update on Monday, and Germany's trade balance data is also due.
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