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LONDON MARKET CLOSE: Stocks rebound as market welcomes tariff U-turn
- The FTSE 100 saw its biggest rise since the pandemic on Thursday, with a 3.0% increase, following a pause in reciprocal US tariffs.
- However, analysts from Morgan Stanley and Peel Hunt warned of ongoing economic uncertainty and the fragile state of the US economy.
- The FTSE 250 and AIM All-Share also ended the day with significant gains, up 3.5% and 2.9% respectively.
- European equities also performed well, with the CAC 40 and DAX 40 up 3.8% and 4.5% respectively.
- In New York, markets gave up some of their recent gains, with the DJIA, S&P 500, and Nasdaq Composite all down over 3% at the London equities close.
- US Treasury Secretary Scott Bessent attributed the initial about-turn on tariffs to Trump's plan, while analysts suggested the weakening bond market influenced Trump's decision.
- On a positive note, US inflation data showed a slowdown in annual consumer price index inflation to 2.4% in March.
- The pound, euro, and yen all made gains against the dollar, while the Bank of England dropped plans to sell long-dated bonds to ease pressure on UK borrowing costs.
- FTSE 100 gains were broad-based, with Barclays, Melrose, WPP, and Antofagasta up over 4%.
- However, food retailers Tesco and J Sainsbury missed out on the rally, with Tesco shares falling 4.7% after announcing cautious guidance for the year ahead.
- Brent oil and gold prices were down at the London equities close on Thursday.
- Friday's economic calendar includes UK industrial production, economic growth, trade data, and US wholesale price inflation figures.
LONDON MARKET MIDDAY: Stocks green but China warns on tariff impacts
- Stock prices in London rose at midday on Thursday, with the FTSE 100, FTSE 250, and AIM All-Share all posting gains, as markets reacted positively to US President Donald Trump's 90-day pause on new tariffs.
- China urged the US for negotiations, stressing the potential negative impact of tariffs on the global economy.
- The Cboe UK indices also saw gains, with the Cboe UK 100 and Cboe UK 250 both up over 4%.
- Tesco shares fell 5.6% despite strong annual results, as investors expressed disquiet over the company's outlook.
- Great Portland Estates rose 9.2% on the FTSE 250, while TT Electronics lost 7.6% on widened losses and paused dividends.
- European equities also saw gains, with the CAC 40 and DAX 40 up over 5%.
- Ireland's deputy premier predicted negotiations between the EU and the US on tariffs.
- The pound, euro, and dollar all saw gains against each other at midday, while stocks in New York were called lower.
- Brent oil and gold prices rose, with crude oil rebounding despite ongoing volatility.
- The economic calendar for Thursday includes US consumer inflation and jobless releases.
LONDON BROKER RATINGS: Jefferies raises Hikma Pharmaceutical to 'buy'
- FTSE 100
- Bernstein cuts easyJet price target to 480 (600) pence - 'market-perform'
- Bernstein cuts International Consolidated Airlines price target to 260 (350) pence - 'market-perform'
- JPMorgan cuts International Consolidated Airlines price target to 5.50 (6.00) EUR - 'overweight'
- Deutsche Bank Research cuts Weir price target to 2,210 (2,610) pence - 'buy'
- Barclays cuts Hiscox price target to 1,180 (1,260) pence - 'equal weight'
- Barclays raises Beazley price target to 1,070 (1,000) pence - 'overweight'
- Jefferies cuts Schroders price target to 320 (330) pence - 'hold'
- Jefferies cuts Intermediate Capital price target to 2,350 (2,700) pence - 'buy'
- Jefferies raises Hikma Pharmaceutical to 'buy' (hold) - price target 2,400 (2,090) pence
- FTSE 250
- Bernstein cuts Wizz Air price target to 3,000 (3,800) pence - 'outperform'
- Berenberg raises Hilton Food price target to 1,120 (1,090) pence - 'buy'
- Barclays cuts Lancashire price target to 700 (800) pence - 'equal weight'
- Jefferies cuts Man Group price target to 235 (260) pence - 'buy'
- Jefferies cuts Ashmore Group price target to 140 (170) pence - 'hold'
- Jefferies cuts Aberdeen Group price target to 165 (215) pence - 'buy'
- Jefferies cuts Peterhill Partners price target to 250 (280) pence - 'buy'
- Jefferies cuts Bridgepoint price target to 320 (400) pence - 'buy'
- SMALL CAP
- JPMorgan raises Ryanair price target to EUR 27 (26.5) - 'overweight'
- Bernstein cuts Ryanair price target to EUR 23.00 (23.50) - 'outperform'
LONDON MARKET OPEN: Stocks rise as UK stays "cool and calm" on trade
- London stock prices rose on Thursday as investors reacted to US President Donald Trump's trade policies.
- Trump maintained tariffs on China while pausing new tariffs on other countries.
- The UK government remains committed to a calm approach in trade negotiations.
- The FTSE 100, 250, and AIM All-Share all opened higher, with the FTSE 100 up 5.4%.
- Anglo American's stock jumped 10% on the FTSE 100.
- Vistry, a housebuilder on the FTSE 250, saw an 8.3% increase after a share purchase by its Chief Strategy Officer.
- Rank Group's stock rose 6.9% on the release of a positive trading update.
- Verici Dx's stock soared 60% on AIM after securing Medicare coverage for its post-kidney transplant blood test.
- European equities also saw gains, with the CAC 40 and DAX 40 up 6.3% and 8.1%, respectively.
- The pound, euro, and yen strengthened against the dollar.
- Asian markets closed higher on Thursday, with the Nikkei 225 and S&P/ASX 200 leading the gains.
- Wall Street ended on a positive note on Wednesday, with the Dow, S&P 500, and Nasdaq all up over 7%.
- Brent oil and gold prices also rose.
- Upcoming economic data includes consumer price inflation figures from Ireland and the US, as well as US jobless data.
LONDON MARKET EARLY CALL: Stocks up as Trump stays "unpredictable"
- London stocks are expected to open higher on Thursday, with the FTSE 100 predicted to rise by 5.2% after US President Donald Trump's decision to pause new tariffs globally, except for China.
- Trump increased tariffs on China to 125%, citing a "lack of respect" from the country.
- Market analysts, such as Swissquote's Ipek Ozkardeskaya, comment on the unpredictability of the current market and Trump's impact on American exceptionalism.
- Sterling and gold prices rose, while the euro and yen weakened against the dollar.
- Wall Street and Asian markets saw significant gains on Wednesday and Thursday, respectively.
- Oil prices increased, with Brent crude trading at USD64.72 per barrel.
- On Thursday, Tesco and TT Electronics will release their full-year results, and economic data on consumer price inflation and US jobless claims will be released.
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