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LONDON MARKET CLOSE: Miners prosper as FTSE 100 makes steady progress
- FTSE 100 Recovery: Recouped some of Friday's losses, closing up 0.2% at 9,442.87, as Donald Trump softened his tone in the US-China trade spat.
- FTSE 250 and AIM: FTSE 250 rose 1.2% to 22,064.32, and AIM All-Share gained 0.8% to 792.47.
- European Equities: CAC 40 (Paris) up 0.2%, DAX 40 (Frankfurt) up 0.6%.
- US Stocks: Regained some losses at London close; Dow Jones down 1.3%, S&P 500 down 1.5%, Nasdaq up 2.0%.
- Trump's Conciliatory Tone: Stated the US wants to help, not hurt China, easing trade tensions temporarily.
- US-China Tensions: Underlying tensions persist, with China leveraging rare earths and the US focusing on AI chips.
- US Government Shutdown: Ongoing, delaying economic data releases like inflation and nonfarm payrolls.
- Currency Movements: Pound down to USD1.3331, Euro down to USD1.1569, Dollar up to JPY152.30.
- Treasury Yields: US 10-year at 4.04%, 30-year at 4.62%, both slightly narrowed.
- Gold and Miners: Gold hit new highs at USD4,093.56/ounce; Fresnillo and Endeavour Mining up 9.1% and 11% respectively.
- Copper Miners: Glencore up 3.3%, Antofagasta up 5.0% as copper prices jumped 6.5%.
- M&G Upgrade: Rose 3.0% after Berenberg upgraded to 'buy' from 'neutral'.
- AstraZeneca: Closed down 0.7% despite confirming a drug pricing agreement with the US.
- Big Yellow Group: Jumped 15% after Blackstone Europe confirmed potential takeover interest.
- Oxford Instruments: Shares fell 7.6% due to tariff-related order intake issues.
- Brent Oil: Traded at USD63.40/barrel, up from USD63.19.
- FTSE 100 Top Gainers: Endeavour Mining, Fresnillo, Antofagasta, Anglo American, Glencore.
- FTSE 100 Top Fallers: BAE Systems, Intertek, British American Tobacco, Babcock International, Burberry.
- Upcoming Data: UK unemployment, average earnings, and RBA minutes on Tuesday.
- Corporate Calendar: Full-year results from Bellway and trading statement from Rio Tinto on Tuesday.
LONDON MARKET MIDDAY: European shares rise after Trump changes tack
- European Stock Markets:
- Stock prices in Europe rebounded on Monday after initial highs, following a conciliatory tone from US President Donald Trump towards China, contrasting his earlier tariff threat.
- FTSE 100 up 0.1% at 9,436.05, FTSE 250 up 1.1% at 22,039.93, and AIM All-Share up 0.7% at 792.09.
- CAC 40 in Paris up 0.4%, DAX 40 in Frankfurt up 0.6%.
- US Market Outlook:
- US stocks expected to open higher on Monday after Friday’s sell-off triggered by Trump’s tariff threat.
- Dow Jones, S&P 500, and Nasdaq Composite called up 1.0%, 1.4%, and 1.9% respectively.
- Trump’s Comments:
- Trump softened his stance over the weekend, stating the US wants to help China, not hurt it, easing fears of immediate trade escalation.
- Analysts remain cautious due to Beijing’s warnings of retaliation if tariffs proceed.
- US Government Shutdown Impact:
- Shutdown continues, delaying key economic data releases including nonfarm payrolls, jobless claims, and consumer price inflation.
- Bureau of Labor Statistics rescheduled inflation data to October 24.
- Currency and Bond Markets:
- Sterling flat at USD1.3337, Euro down to USD1.1585, Dollar up against Yen at JPY152.15.
- US 10-year Treasury yield at 4.06%, 30-year Treasury yield at 4.65%.
- Commodities:
- Brent crude oil rose to USD63.68 per barrel, Gold hit a new record high at USD4,085.25 per ounce amid safe-haven demand.
- Corporate Highlights:
- Mining stocks (Fresnillo, Endeavour Mining, Hochschild) surged, while defense stocks (Babcock, BAE, Qinetiq) declined.
- Oxford Instruments shares plummeted 12% due to tariff-related order disruptions.
- Costain gained 9.1% after securing a GBP1 billion contract for Sellafield nuclear plant decommissioning.
- Global Political Developments:
- French President Macron accused rivals of fueling instability amid threats to censure newly reappointed Prime Minister Sebastien Lecornu.
LONDON BROKER RATINGS: Berenberg raises M&G; RBC likes Aviva
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- 13th Oct 2025 09:27
- The following London-listed shares received analyst recommendations Monday morning and on Friday:
- FTSE 100
- JPMorgan raises St James's Place price target to 1,600 (1,550) pence - 'overweight'
- JPMorgan raises Prudential price target to 1,275 (1,200) pence - 'overweight'
- RBC reinitiates Aviva with 'outperform' - price target 800 pence
- Berenberg raises Phoenix Group price target to 852 (850) pence - 'buy'
- Berenberg raises M&G to 'buy' (hold) - price target 342 (225) pence
- Berenberg raises Legal & General price target to 289 (265) pence - 'buy'
- FTSE 250
- RBC raises Volution price target to 765 (740) pence - 'outperform'
- Jefferies cuts Baltic Classifieds price target to 333 (340) pence - 'hold'
- Deutsche Bank Research cuts Ibstock price target to 190 (210) pence - 'buy'
- JPMorgan raises Man Group price target to 188 (175) pence - 'neutral'
- JPMorgan raises Aberdeen Group price target to 234 (231) pence - 'overweight'
- SMALL CAP
- Berenberg raises Norcros price target to 410 (350) pence - 'buy'
- Related Shares:
LONDON MARKET OPEN: Stocks up as Trump says US wants to "help" China
- European Equities: Opened higher on Monday due to eased US-China trade tensions following Donald Trump's conciliatory remarks.
- UK Indices:
- FTSE 100: +0.3% at 9,453.65
- FTSE 250: +0.7% at 21,944.03
- AIM All-Share: +0.8% at 792.33
- Cboe UK 100: +0.4% at 944.67
- Cboe UK 250: +0.7% at 19,217.01
- Cboe Small Companies: +0.1% at 17,715.25
- European Indices:
- CAC 40 (Paris): +1.0%
- DAX 40 (Frankfurt): +0.7%
- Trump's Remarks: Stressed the US wants to help China, not hurt it, despite earlier tariff threats. Markets viewed this as pre-negotiation posturing.
- US Markets (Friday):
- Dow Jones: -1.9%
- S&P 500: -2.7%
- Nasdaq Composite: -3.6%
- Asian Markets:
- Shanghai Composite: -0.2%
- Hang Seng (Hong Kong): -1.8%
- S&P/ASX 200 (Sydney): -0.8%
- Tokyo markets closed for Sports Day.
- Currencies:
- Sterling: Flat at USD1.3339
- Euro: Down to USD1.1610
- USD/JPY: Up to JPY152.30
- Commodities:
- Brent Crude: Up to USD63.67
- Gold: Up to USD4,070.01/ounce (new record high)
- Corporate Highlights:
- Fresnillo: +5.8% due to gold price rise
- Endeavour Mining: +4.6% due to gold price rise
- Lloyds Banking Group: +1.3%, set aside GBP800 million for motor finance mis-selling
- IP Group: +7.6%, potential royalty income from Metsera obesity drugs
- Strategic Minerals: +23%, exceptional drilling results at Redmoor project
- Upcoming Focus: Major US bank earnings (Citigroup, Goldman Sachs, JPMorgan Chase, Wells Fargo, Bank of America, Morgan Stanley) later this week.
LONDON MARKET EARLY CALL: FTSE 100 to edge up after Trump remarks
- FTSE 100 Outlook: Expected to open 5.2 points higher (0.1%) at 9,432.67 on Monday, recovering from Friday's 0.9% decline due to Trump's tariff threats.
- Trump's Tariff Threats: On Friday, Trump threatened "massive" tariffs on Chinese goods, citing hostile trade practices and export controls on rare earth minerals. He later announced 100% tariffs from November 1.
- Market Reaction: U.S. markets bore the brunt of Friday's sell-off: Dow (-1.9%), S&P 500 (-2.7%), Nasdaq (-3.6%). Asian markets also fell: Shanghai Composite (-0.6%), Hang Seng (-2.7%), S&P/ASX 200 (-0.8%).
- Trump's Conciliatory Tone: Over the weekend, Trump struck a warmer tone, stating the U.S. wants to help China, not hurt it, and praised President Xi Jinping.
- Currency and Commodity Movements: Sterling rose to USD1.3354, Brent crude to USD63.58, and gold hit a record high of USD4,078 per ounce.
- Economic Calendar: No major events on Monday; later in the week, UK GDP, jobs data, and China inflation figures are expected.
- Analyst Commentary: Pepperstone's Michael Brown highlighted trade developments as key for the week, with the U.S. government shutdown creating a data vacuum. Q3 earnings season begins, with S&P 500 earnings growth expected at 8.0% YoY.
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