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LONDON MARKET CLOSE: FTSE 100 and sterling rise after BoE rate cut
- London Stock Market:
- Stock prices closed in the green on Thursday, boosted by the Bank of England's (BoE) rate cut and the European Central Bank's (ECB) hold on rates.
- FTSE 100 up 0.7% at 9,837.77, FTSE 250 up 0.7% at 22,325.59, and AIM All-Share up 0.7% at 756.36.
- Whitbread led the FTSE 100, up 6.0%, after activist investor Corvex Management LP acquired a 6% stake and urged a strategic review.
- Tekmar rose 19% on AIM after securing a €8 million contract for a major UK offshore wind farm.
- Topps Tiles fell 6.3% after going ex-dividend, though it remains 14% higher year-to-date.
- Bank of England (BoE):
- MPC voted 5-4 to cut interest rates by 25 basis points to 3.75%, with Governor Andrew Bailey supporting the cut.
- Decision aimed at easing financial pressure on households and businesses, but minutes showed hawkish concerns about persistent inflation.
- Inflation expected to approach 2% target in spring, but some MPC members remain cautious about medium-term inflation risks.
- European Central Bank (ECB):
- Held interest rates unchanged at 2.00%, 2.15%, and 2.40% for deposit, main refinancing, and marginal lending facilities, respectively.
- Decision aligns with expectations and a brighter economic forecast; rates likely to remain stable in 2026 unless economic outlook shifts significantly.
- Global Markets:
- U.S. stocks higher: Dow Jones up 0.9%, S&P 500 up 1.4%, Nasdaq up 1.9%.
- Brent oil up to $60.23/barrel, gold up to $4,370.61/ounce.
- Pound higher at $1.3387, euro lower at $1.1730, dollar lower against yen at ¥155.46.
- Corporate News:
- BP's CEO Murray Auchincloss stepping down, replaced by Meg O'Neill from Woodside Energy on April 1, 2026.
- Carnival and WH Smith to publish full-year results on Friday.
- Economic Calendar (Friday):
- UK consumer confidence, retail sales, and public sector net borrowing data expected.
LONDON MARKET MIDDAY: BoE cuts rates but sees "closer" calls ahead
- FTSE 100 Performance: Lagged European peers, gaining only 2.25 points to 9,776.57 after a Bank of England (BoE) rate cut.
- Sterling Movement: Rose to USD1.3380 from USD1.3359 post-BoE decision, remaining below USD1.34.
- BoE Rate Cut: Reduced bank rate to 3.75% from 4.00%, with five members supporting and four opposing due to inflation concerns.
- UK Inflation: Slowed to 3.2% year-on-year in November, below consensus of 3.5%.
- European Markets: CAC 40 (+0.2%) and DAX 40 (+0.3%) outperformed FTSE 100.
- Global Central Banks: Focus shifts to ECB (expected to hold) and BoJ (expected to hike) decisions.
- US Treasury Yields: 10-year yield narrowed to 4.13%, 30-year to 4.81%.
- US Inflation Expectations: Annual CPI expected to accelerate to 3.1% in November.
- Commodities: Brent crude fell to USD59.55, gold flat at USD4,326.11.
- Whitbread Shares: Rose 5.8% after Corvex Management acquired a 6% stake, urging strategic review.
- Rentokil Shares: Gained 3.1% on Bank of America upgrade to 'buy'.
- Currys Shares: Surged 9.7% on accelerated sales growth, declared interim dividend of 0.75p per share.
- Surgical Innovations Shares: Slumped 28% due to softer sales, attributed to flu epidemic and supply issues.
LONDON BROKER RATINGS: UBS cuts 3i Group price target
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- 18th Dec 2025 09:49
- The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:
-
FTSE 100
- Barclays raises St James's Place target to 1,565 (1,550) pence - 'overweight'
- UBS cuts 3i Group price target to 4,000 (4,400) pence - 'buy'
-
FTSE 250
- Citigroup raises Serco Group price target to 324 (273) pence - 'buy'
- Jefferies raises Wag Payment Solutions price target to 132 (109) pence - 'buy'
- RBC raises Watches of Switzerland target to 520 (460) pence - 'sector perform'
- Berenberg raises Currys price target to 210 (200) pence - 'buy'
-
SMALL CAP
- Jefferies raises Boku price target to 334 (324) pence - 'buy'
- Related Shares:
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LONDON MARKET OPEN: Europe edges higher before rate decisions
- European Stocks Open Higher: Markets in Europe rose on Thursday ahead of interest rate decisions from the eurozone and UK, despite a slump in US tech shares overnight.
- UK Indices Performance:
- FTSE 100: +2.86 points at 9,777.18
- FTSE 250: +46.84 points (0.2%) at 22,211.60
- AIM All-Share: +0.83 points (0.1%) at 752.31
- European Indices: CAC 40 (Paris) +0.2%, DAX 40 (Frankfurt) +0.1%.
- Currency Movements:
- Pound: Rose to USD1.3368 (from USD1.3359)
- Euro: Faded to USD1.1730 (from USD1.1749)
- Dollar (vs Yen): Rose to JPY155.83 (from JPY155.55)
- UK Inflation Data: Consumer prices rose 3.2% year-on-year in November, below consensus of 3.5%, slowing from 3.6% in October.
- US Treasury Yields: 10-year yield narrowed to 4.14%, 30-year yield eased to 4.82%.
- Asian Markets:
- Nikkei 225 (Tokyo): -1.0%
- Shanghai Composite (China): +0.2%
- Hang Seng (Hong Kong): +0.1%
- S&P/ASX 200 (Sydney): Slightly higher
- US Markets (Wednesday): Dow Jones -0.5%, S&P 500 -1.2%, Nasdaq Composite -1.8%.
- Market Sentiment: Weakened due to US jobs data and intensified AI selloff, with concerns over circularity and leveraged-debt risks.
- Corporate News:
- Amazon reportedly in talks to invest USD10 billion in OpenAI.
- Oracle fell 5.4% after equity deal negotiations for a Michigan data centre project excluded Blue Owl Capital.
- BP: CEO Murray Auchincloss to step down, replaced by Meg O'Neill from April 1, 2026.
- Currys: Shares spiked 9.7% after reporting half-year profit and plans for GBP75 million shareholder returns.
- Surgical Innovations: Slumped 40% due to softer sales in Q4, attributed to a global flu epidemic and NHS industrial action.
- Economic Calendar:
- Bank of England expected to cut bank rate by 25 basis points at midday.
- European Central Bank expected to keep rates unchanged (decision at 1315 GMT, press conference at 1345 GMT).
- US inflation data expected at 1330 GMT, with consensus forecasting a slight rise to 3.1% in November.
- Bank of Japan expected to hike rates by 25 basis points on Friday.
- Commodities: Brent crude rose to USD60.03, gold slightly up to USD4,327.81 per ounce.
- US Politics: President Donald Trump promised an economic boom in 2026 and announced USD1,776 bonus checks for 1.45 million military service members.
LONDON MARKET EARLY CALL: BoE to cut, ECB hold before US data ahead
- London Stocks: Expected to remain stable on Thursday ahead of central bank decisions and US inflation data; FTSE 100 futures indicate a slight 2.8-point decline to 9,771.52.
- Currency Movements: Pound rose to USD1.3367, euro dipped to USD1.1744, and dollar strengthened to JPY155.84 against the yen.
- UK Inflation: Consumer prices rose 3.2% year-on-year in November, below consensus of 3.5%, easing inflationary pressures.
- US Treasury Yields: 10-year yield narrowed to 4.15%, 30-year yield eased to 4.82%.
- Central Bank Decisions: Interest rate decisions expected from the UK, eurozone, Norway, and Sweden on Thursday.
- Global Markets: Dow Jones (-0.5%), S&P 500 (-1.2%), Nasdaq (-1.8%); Nikkei 225 (-0.9%), Shanghai Composite (+0.3%), Hang Seng (-0.3%), S&P/ASX 200 slightly higher.
- Analyst Commentary: Sentiment softened ahead of US CPI data and G10 policy decisions; expectations of rate cuts by the Bank of England and steady rates from Riksbank, Norges Bank, and ECB.
- Commodities: Brent crude rose to USD60.13, gold to USD4,333.41 per ounce.
- US Politics: President Trump promised an economic boom in 2026, announced USD1,776 bonus checks for military members, and criticized Biden for high prices.
- Corporate News: BP CEO Murray Auchincloss to step down, replaced by Meg O'Neill from Woodside Energy; Carol Howle to serve as interim CEO until April 1, 2026.
- UK Corporate Calendar: Currys to release half-year results on Thursday.
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