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LONDON MARKET CLOSE: FTSE 100 makes headway ahead of likely BoE cut
- FTSE 100 Performance: Closed up 102.28 points (1.1%) at 9,751.31, led by gains in financials (Prudential +3.2%, Hiscox +3.0%, Barclays +2.2%, NatWest +3.0%).
- FTSE 250 and AIM: FTSE 250 up 172.61 points (0.8%) at 22,049.16; AIM All-Share down 2.13 points (0.3%) at 749.23.
- European Markets: CAC 40 (Paris) up 0.7%; DAX 40 (Frankfurt) up 0.2%.
- Upcoming Economic Events: Central bank decisions in the UK, Europe, and Japan; US and UK inflation and retail sales data; US nonfarm payrolls for October and November.
- Market Sentiment: Positive tone despite busy week, with Fed rate cut reducing immediate impact of jobs and inflation data.
- Currency Movements: Pound up at USD1.3390; Euro up at USD1.1764; Dollar down against yen at JPY155.24.
- BoE Rate Decision: Expected 0.25% cut to 3.75% on Thursday, with 90% probability; decision remains close due to split MPC views on inflation and growth.
- US Markets: Dow Jones and Nasdaq down 0.1%; S&P 500 up 0.1%; US 10-year Treasury yield at 4.17%.
- FTSE 100 Movers: Top gainers: Airtel Africa (+12.20p), Antofagasta (+108.00p), Prudential (+34.00p); Top fallers: Fresnillo (-48.00p), Rightmove (-6.60p), Hikma Pharmaceuticals (-13.00p).
- Corporate News: Haleon (+2.9%) named 'top pick' by Morgan Stanley; Marks & Spencer (+2.0%) favored by Jefferies; BAE Systems (-0.4%) amid Ukraine developments; TT Electronics (-20%) after DBAY Advisors opposes takeover.
- Commodities: Brent oil down at USD60.39/barrel; Gold up at USD4,296.68/ounce.
- Tuesday's Calendar: UK jobs and earnings data; US nonfarm payrolls and retail sales; Results from Hollywood Bowl and trading statement from IG Group.
LONDON MARKET MIDDAY: FTSE rises as miners lift stocks
- London Stock Market:
- FTSE 100 up 0.9% at 9,734.56, FTSE 250 up 0.7% at 22,034.39, AIM All-Share up 0.24 points at 751.60.
- Cboe UK 100 up 0.8%, Cboe UK 250 up 0.7%, Cboe Small Companies down 0.7%.
- Mining sector strong despite weak Chinese data, supported by higher precious metals prices.
- UK's relative lack of AI exposure seen as a boon amid valuation concerns in the sector.
- Currency Markets:
- Pound up to USD1.3386, Euro up to USD1.1747, Dollar down against Yen to JPY155.00.
- UK Consumer Sentiment:
- S&P Global UK consumer sentiment index fell to a two-year low of 44.7 points in December.
- Future expectations for finances 12 months ahead dropped to a 24-month low of 44.2 points.
- Economist Maryam Baluch highlights subdued confidence and job insecurity, with worsening spending intentions.
- Cryptocurrency Regulation:
- UK government to regulate cryptocurrencies like Bitcoin similarly to traditional financial products by 2027.
- Crypto firms to meet FCA regulatory standards, aiming to improve consumer protection and clarity.
- Higher compliance costs may squeeze smaller operators but benefit larger firms.
- Corporate News:
- Hikma Pharmaceuticals down 1.3% after CEO Riad Mishlawi steps down; Said Darwazah assumes CEO responsibilities.
- Burberry top performer on FTSE 100, up 3.0%.
- Defence stocks under pressure; BAE Systems and Babcock International down 1.0% and 0.6% respectively.
- Frasers Group up 7.9% after announcing GBP70.0 million share buyback.
- Chariot up 10% after securing financing for South African wind projects.
- Mkango up 8.7% on improved valuation of US rare-earth magnet recycling plant and potential US listing.
- Global Markets:
- European equities: CAC 40 up 1.1%, DAX 40 up 0.5%.
- Eurozone industrial production up 0.8% month-on-month in October, beating expectations.
- US stocks called higher; Dow, S&P 500, and Nasdaq up 0.5%.
- Brent oil down to USD60.85, Gold up to USD4,340.10.
- Geopolitical Developments:
- Progress reported in Ukraine-Russia ceasefire talks in Berlin; discussions to resume.
- German-Ukrainian economic talks scheduled, with European leaders gathering in Berlin.
LONDON BROKER RATINGS: Jefferies cuts Tesco, AB Foods and Next
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- 15th Dec 2025 09:46
- The following London-listed shares received analyst recommendations Monday morning and on Friday:
- FTSE 100
- Jefferies cuts Tesco to 'hold' - price target 450 pence
- Jefferies cuts AB Foods to 'underperform' - price target 1,800 pence
- Jefferies cuts Next to 'hold' - price target 1,400 pence
- Morgan Stanley cuts Reckitt Benckiser to 'equal-weight' - price target 6,100 pence
- RBC cuts Marks & Spencer price target to 350 (400) pence - 'sector perform'
- RBC cuts Smith & Nephew to 'sector perform' - price target 1,350 (1,700) pence
- FTSE 250
- RBC cuts Mony price target to 250 (260) pence - 'outperform'
- RBC raises FirstGroup price target to 250 (245) pence - 'outperform'
- Deutsche Bank Research raises Bridgepoint to 'buy' (hold)
- Small Cap
- UBS cuts Card Factory price target to 120 (170) pence - 'buy'
- Berenberg cuts Card Factory price target to 110 (150) pence - 'buy'
- Morgan Stanley raises Ryanair price target to 30.50 (30.40) EUR - 'overweight'
- Deutsche Bank Research raises AIB price target to 8.50 (6.20) EUR - 'hold'
- Berenberg raises Kistos price target to 280 (245) pence - 'buy'
- RBC cuts On The Beach price target to 305 (325) pence - 'outperform'
- UBS raises South32 price target to 170 (165) pence - 'neutral'
- RBC raises Capita price target to 480 (400) pence - 'outperform'
- Goldman Sachs starts Magnum Ice Cream with 'neutral' - price target 13.70 EUR
- Related Shares:
LONDON MARKET OPEN: Stocks up ahead of busy week for central banks
- European Stock Markets Open Higher: European markets started Monday with gains, led by the FTSE 100 (+0.6%), FTSE 250 (+0.5%), and AIM All-Share (+0.090 points), amid a busy week for central bank decisions.
- Central Bank Decisions Ahead: Key decisions expected from the Bank of England (likely rate cut to 3.75%), European Central Bank (rates unchanged at 2%), Bank of Japan (potential rate hike to 0.75%), and others.
- US Economic Focus: Attention on delayed US labor market reports (October, November) and monthly inflation data, following the Federal Reserve’s recent rate cut.
- FTSE 100 Performance: Supported by resource sector exposure, with Burberry (+3.3%) leading gains and Associated British Foods (-1.5%) and Tesco (-1.2%) declining after Jefferies downgrades.
- Mining Stocks Rise: Endeavour Mining (+2.6%), Fresnillo (+1.8%), and Antofagasta (+1.9%) gained on higher gold prices (USD4,345/ounce).
- HSBC Shares Up: Opened 0.8% higher after progress in privatizing its Hong Kong subsidiary, Hang Seng, valued at HKD290 billion.
- Hikma Pharmaceuticals Falls: Down 1.4% after CEO Riad Mishlawi stepped down, with Executive Chair Said Darwazah assuming CEO responsibilities.
- Housebuilders Decline: Persimmon (-1.0%), Taylor Wimpey (-0.9%), Barratt Redrow (-1.1%), and Berkeley Group (-0.5%) fell despite Nationwide’s positive housing market outlook for 2026.
- Frasers Group Surges: Up 8.1% on the FTSE 250 after announcing a GBP70.0 million share buyback program.
- TT Electronics Plunges: Down 18% after DBAY Advisors rejected Cicor Technologies’ takeover offer and vowed to vote against it.
- Global Market Performance: Mixed performance in Asia (Nikkei -1.3%, Shanghai Composite -0.6%, Hang Seng -1.4%) and Europe (CAC 40 +0.4%, DAX 40 +0.3%), with Wall Street ending lower on Friday.
- Commodities and Currencies: Brent oil at USD61.16/barrel, sterling at USD1.3371, euro at USD1.1734, and yen at JPY155.15 per dollar.
- Upcoming Economic Data: Eurozone industrial production, Ireland’s trade balance, Canadian inflation, and US manufacturing index expected later Monday.
LONDON MARKET EARLY CALL: FTSE 100 seen up ahead of central bank week
- London Stocks: FTSE 100 futures indicate a 0.4% higher opening at 9,683.33 on Monday, following a 0.6% decline on Friday.
- Currencies: Sterling rose to USD1.3368, euro unchanged at USD1.1739, and dollar slightly up against the yen at JPY155.75.
- Central Bank Actions: Expected 25bp cut from the Bank of England, 25bp hike from the Bank of Japan, and no changes from the ECB, Riksbank, and Norges Bank this week.
- Equity Markets: Mixed performance; waning appetite for AI-tech stocks, while non-tech and value-oriented sectors benefit from Fed rate cuts.
- US Markets: Dow Jones briefly hit a record high before retreating; Nasdaq fell 1.9% due to weak earnings from Oracle and Broadcom.
- UK Housing: December saw a 1.8% drop in average new seller asking prices, ending 2025 0.6% lower than 2024. Forecasted 2% rise in 2026.
- Mortgage Rates: Average two-year fixed rate at 4.33%, down from 5.08% a year ago.
- US Politics: Trump considers Kevin Hassett and Kevin Warsh for Fed Chair, emphasizing presidential consultation on interest rates.
- Asian Markets: Nikkei 225 down 1.3%, Shanghai Composite down 0.4%, Hang Seng down 1.2%, and S&P/ASX 200 down 0.7%.
- Chinese Data: Industrial output growth slowed to 4.8%, retail sales growth weakened to 1.3%, and unemployment rate steady at 5.1%.
- Ukraine-Russia Talks: US delegation optimistic after Berlin talks on a potential ceasefire, covering a 20-point peace plan.
- Commodities: Gold up to USD4,344.00/ounce, Brent oil slightly higher at USD61.40/barrel.
- Economic Calendar: Key data releases include Germany wholesale prices, eurozone industrial production, Canada CPI, and US manufacturing index.
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