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LONDON MARKET CLOSE: WPP woes keep lid on FTSE and pound extends falls
- FTSE 100 Performance: Extended its winning streak to nine days, closing up 3.92 points at 9,760.06, a new record high, despite early declines.
- FTSE 250 and AIM All-Share: Ended lower, with FTSE 250 down 171.99 points (0.8%) at 22,276.28, and AIM All-Share down 3.09 points (0.4%) at 769.80.
- Cboe Indices: Cboe UK 100 little changed at 973.93, Cboe UK 250 down 0.8% at 19,375.28, and Cboe Small Companies up 0.6% at 17,899.78.
- WPP Plunge: Shares fell 17% after warning of year-to-date performance at the "low-end of expectations" and cutting its outlook. Q3 revenue dropped 8.4% to GBP3.26 billion, with like-for-like down 3.5%.
- WPP Leadership: New CEO Cindy Rose acknowledged "unacceptable" performance and pledged to address issues, stating optimism for the future plan.
- European Equities: CAC 40 in Paris down 0.5%, DAX 40 in Frankfurt little changed.
- US Stocks: Mixed performance with Meta Platforms down 9.7%, weighing on S&P 500 and Nasdaq. Dow Jones up 0.5%, S&P 500 down 0.3%, Nasdaq down 0.8%.
- Meta Outlook: Forecast increased investment and higher operating costs after a Q3 impacted by a hefty tax provision.
- Federal Reserve: Chair Jerome Powell pushed back against market expectations of a December rate cut, stating it’s not a "foregone conclusion."
- Global Central Banks: Bank of Japan kept rates unchanged at 0.5%, while the ECB held rates steady for the third consecutive meeting.
- Currency and Bond Markets: Dollar strengthened, pound fell to USD1.3149, euro to USD1.1565, and yen to JPY154.11. US 10-year Treasury yield rose to 4.09%.
- London Stocks: Standard Chartered up 1.9% on accelerated return on equity target. Computacenter gained 5.0% on strong Q3 performance. Ithaca Energy and Harbour Energy rose on potential windfall tax scrap.
- Corporate News: Shawbrook Group began conditional dealing at 396 pence, above offer price. TT Electronics soared 59% on GBP287 million takeover by Cicor Technologies.
- Commodities: Brent oil up to USD64.92 per barrel, gold little changed at USD3,998.00 per ounce.
- FTSE 100 Top Performers: Airtel Africa, Auto Trader, Centrica, Standard Chartered, and GSK.
- FTSE 100 Biggest Fallers: WPP, JD Sports Fashion, Whitbread, Segro, and Burberry.
- Upcoming Economic Data: Canada GDP, eurozone inflation, and Chicago PMI on Friday.
LONDON MARKET MIDDAY: FTSE 100 winning run under threat as WPP plunges
- London Stock Market:
- FTSE 100 down 0.6% at 9,697.25, pulling back from record high.
- FTSE 250 down 0.8% at 22,271.39; AIM All-Share down 0.4% at 770.17.
- WPP shares sank 14% after cutting guidance and reporting weak Q3 performance.
- Standard Chartered shares up 2.0% on strong Q3 results and improved 2025 outlook.
- European Markets:
- CAC 40 in Paris down 0.9%; DAX 40 in Frankfurt down 0.2%.
- US Markets:
- Mixed opening expected: Dow Jones down 0.2%, S&P 500 and Nasdaq up 0.1%.
- 10-year US Treasury yield widened to 4.10%; 30-year yield to 4.65%.
- Federal Reserve:
- Chair Jerome Powell lowered expectations for a December rate cut, citing uncertainty.
- Hawkish tone caused short-term Treasury yields to jump, impacting UK gilt yields.
- European Central Bank:
- Expected to hold interest rates steady at 1315 GMT.
- Currency Movements:
- Sterling fell to USD1.3176; Euro declined to USD1.1598; Dollar rose to JPY154.12.
- Commodities:
- Gold fell to USD3,975.10/ounce; Brent crude declined to USD63.89/barrel.
- Corporate News:
- Computacenter up 3.6% on strong Q3 performance and optimistic outlook.
- TT Electronics shares jumped 60% on GBP287 million takeover offer from Cicor Technologies.
LONDON BROKER RATINGS: UBS cuts Ibstock; Deutsche Bank says 'buy' PHP
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- 30th Oct 2025 09:56
- The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:
-
FTSE 100
- Jefferies raises Glencore price target to 450 (425) pence - 'buy'
- Barclays cuts Glencore price target to 420 (430) pence - 'overweight'
- Berenberg raises Anglo American price target to 3,100 (3,000) pence - 'buy'
- Barclays raises Prudential price target to 1,260 (1,220) pence - 'overweight'
- RBC raises HSBC price target to 1,050 (950) pence - 'sector perform'
- JPMorgan raises HSBC price target to 1,010 (950) pence - 'neutral'
- Oddo BHF raises GSK price target to 1,880 pence - 'neutral'
- LBBW raises GSK price target to 1,850 (1,650) pence - 'buy'
- Goldman Sachs raises GSK price target to 1,700 (1,580) pence - 'neutral'
- DZ Bank raises fair value for GSK to 1,700 (1,550) pence - 'hold'
- RBC raises Schroders price target to 440 (435) pence - 'outperform'
- Goldman Sachs raises Standard Chartered price target to 1,670 (1,301) pence - 'neutral'
- Deutsche Bank Research raises Lloyds price target to 100 (90) pence - 'buy'
- Deutsche Bank Research raises Barclays price target to 480 (380) pence - 'buy'
- Jefferies raises Babcock International target to 1,400 (1,330) pence - 'buy'
- Berenberg raises Next price target to 17,800 (14,700) pence - 'buy'
- Goldman Sachs raises Next price target to 15,600 (14,500) pence - 'buy'
- UBS raises Next price target to 15,200 (14,500) pence - 'buy'
- JPMorgan raises Next price target to 13,030 (11,700) pence - 'neutral'
- JPMorgan cuts WPP price target to 360 (420) pence - 'neutral'
-
FTSE 250
- UBS cuts Ibstock to 'neutral' (buy) - price target 140 (210) pence
- Deutsche Bank reinitiates Primary Health Properties with 'buy'
- JPMorgan cuts Aston Martin price target to 58 (62) pence - 'neutral'
- RBC raises Aberdeen Group price target to 200 (195) pence - 'sector perform'
- Jefferies raises Qinetiq price target to 550 (520) pence - 'hold'
- RBC cuts Greencoat UK Wind price target to 145 (150) pence - 'outperform'
- Jefferies raises Computacenter price target to 3,300 (3,200) pence - 'buy'
-
SMALL CAP
- Barclays raises Bank of Ireland target to 15.40 (13.10) EUR - 'equal weight'
- Citigroup cuts Flutter Entertainment price target to 26,800 (27,500) pence - 'buy'
- Berenberg cuts Essentra price target to 160 (170) pence - 'buy'
- RBC cuts Essentra price target to 155 (180) pence - 'outperform'
- Berenberg raises Sylvania Platinum price target to 109 (106) pence - 'buy'
- Related Shares:
LONDON MARKET OPEN: Stocks fall after Fed casts doubt on December cut
- Stock Market Performance:
- FTSE 100 opened down 0.5% at 9,711.13, retreating from a record high due to a "hawkish" Federal Reserve cut.
- FTSE 250 down 0.4% at 22,364.78; AIM All-Share down 0.3% at 770.57.
- Cboe UK 100 down 0.4%; Cboe UK 250 down 0.5%; Cboe Small Companies up 1.0%.
- European equities: CAC 40 flat; DAX 40 up 0.2%.
- Federal Reserve:
- Chair Jerome Powell lowered expectations for a December rate cut, stating it’s not a foregone conclusion.
- US-China Trade:
- President Xi Jinping and Donald Trump reached a consensus on economic and trade issues.
- Agreements include a one-year deal on rare earths supply, reduced tariffs on fentanyl-related chemicals, and increased Chinese purchases of US soybeans and energy.
- Corporate Earnings:
- Alphabet reported strong results; Meta’s figures were subpar due to a USD16 billion tax charge; Microsoft met expectations but faced sell-off.
- Standard Chartered climbed 2.3% after reporting profit growth and accelerating its RoTE target to 2025.
- WPP shares sank 11% due to low-end performance and revenue decline.
- Shell shares down 0.7% despite share buyback program and stable dividend.
- Currency and Commodities:
- Sterling fell to USD1.3203; Euro declined to USD1.1614; Dollar rose to JPY153.73.
- Gold fell to USD3,972.70/ounce; Brent crude declined to USD63.91/barrel.
- Individual Stocks:
- Computacenter up 3.1% on strong full-year profit expectations.
- Getech shares jumped 31% after signing GBP330,000 worth of contracts.
- ValiRx shares sank 45% following a fundraising announcement.
- Economic Calendar:
- ECB rate decision and eurozone data (unemployment, GDP, consumer confidence) expected later Thursday.
LONDON MARKET EARLY CALL: FTSE 100 to fall after Powell leans hawkish
- FTSE 100 Outlook: Stocks in London expected to open lower on Thursday, threatening the FTSE 100's eight-day winning streak, following a "hawkish" Federal Reserve cut.
- FTSE 100 Futures: Indicate a 22.7-point (0.2%) decline to 9,733.44 at Thursday's open, after closing up 0.6% at 9,756.14 on Wednesday.
- Federal Reserve Decision: Cut interest rates by 25 basis points to 3.75%-4.00%, halted balance sheet reduction, but Chair Jerome Powell lowered expectations for a December cut, calling it not a foregone conclusion.
- Market Reaction: Dollar appreciated post-Powell comments; U.S. stocks mixed (Dow -0.2%, S&P 500 flat, Nasdaq +0.6%); Treasury yields rose (10-year to 4.08%, 30-year to 4.63%).
- Currency Movements: Sterling fell to USD1.3199, euro to USD1.1622, dollar rose to JPY153.03.
- Bank of Japan: Kept interest rates unchanged at 0.5%, citing high uncertainties in global trade and economic policies.
- U.S.-China Trade Talks: Brief meeting between Trump and Xi Jinping ended with no immediate public comments on progress.
- Asian Markets: Nikkei 225 flat, Shanghai Composite -0.5%, Hang Seng -0.6%, S&P/ASX 200 -0.5%.
- Standard Chartered: Shares rose 4.3% in Hong Kong; Q3 pretax profit up 9.9% to USD1.99 billion, with 2025 income growth expected towards upper end of 5%-7% range.
- Commodities: Gold fell to USD3,961.51/ounce, Brent crude declined to USD64.08/barrel.
- UK Corporate Calendar: Shell to release third-quarter results on Thursday.
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