UK equities mixed as investors assess tariff-related updates, company news
The blue-chip FTSE 100 (.FTSE), opens new tab was flat by 0910 GMT, while the domestically oriented midcap index (.FTMC), opens new tab rose 0.2% after ending the previous week in the red.
U.S. President Donald Trump said on Sunday that Washington was close to several trade agreements and would notify other countries of higher tariff rates set to go into place on August 1, a delay from the July 9 deadline.
Oil and gas (.FTNMX601010), opens new tab stocks weighed on the index, dropping 2.6%, with energy giant Shell (SHEL.L), opens new tab losing almost 3% after trimming its second-quarter outlook for integrated gas division and liquefied natural gas production ahead of full results.
Other oil companies also came under pressure with oil prices slipping after OPEC+ hiked output above expectations in August. BP (BP.L), opens new tab was down 1.9%. Diversified Energy , Harbour Energy (HBR.L), opens new tab and Ithaca Energy (ITH.L), opens new tab all fell over 1% on the midcap.
Among individual stocks, miner Ferrexpo (FXPO.L), opens new tab slid 1.7% as iron ore production fell after the discontinuation of Ukraine's value-added tax refunds reduced operations.
Electricals retailer Currys (CURY.L), opens new tab fell 6.2% and led midcap losses, after an RBC downgrade.
Online trading platform Plus500 (PLUSP.L), opens new tab was among the top gainers on the FTSE 250 after positive second-quarter results.
Weir Group (WEIR.L), opens new tab was the top gainer on the blue-chip after Citigroup raised its rating and price target.
On the data front, Halifax data showed that British house prices stagnated in June from the previous month following the increase in tax on property transactions from April.
In other news, British finance minister Rachel Reeves is set to announce a 28.6 million pound ($39 million) investment into a carbon capture project, which is expected to create jobs in central and northern England.
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BBC News
10 minutes ago
- BBC News
Palace 'dismayed' by Uefa's decision
Crystal Palace say they "are extremely dismayed by Uefa's decision to exclude the club from the Europa League."The Eagles were ordered on Friday to compete in the Conference League by Uefa for breaching multi-club ownership Forest, who finished seventh in the Premier League last season, could replace FA Cup winners Palace in the Europa a statement, the club said: "It's clear for everyone to see that we are not part of a multi-club operation and never have been. Further with the completion of the sale of Eagles's football's shareholding to Woody Johnson there will be zero possibility of conflict of interest once the competition begins. "We will continue to press our case and work with Uefa to achieve the fair and just outcome so that we may take our rightful place in the Europa League, as well as taking legal advice to consider our options, including an appeal to the Court of Arbitration for Sport."
The Sun
31 minutes ago
- The Sun
How Maresca can fit £190m new strikers Delap, Joao Pedro, Gittens and Estevao into his Chelsea team next season
CHELSEA'S transfer strategy since the take over by Todd Boehly and BlueCo in 2022 has been scattergun to say the least. The new ownership group has installed a clear recruitment plan - buy young players with high potential whatever it costs. 17 The burn and churn policy means Chelsea have a lot of players on their books, which gives manager Enzo Maresca a huge headache. TheItalian coach has made it clear he favours a smaller and tighter squad so that players would be able to build understanding and momentum. Yet the logic of having so many top scouts and sporting directors dictates that more and more players will continue to be brought into the club. They have already strengthened their forward options since the end of the season with Liam Delap from Ipswich for £30m, Joao Pedro from Brighton for £60m, Jamie Gittens from Borussia Dortmund for £48m and Estevao f rom Palmeiras for £52m all coming into the club. So how on earth will Maresca navigate a way through this mess, and find an attack that blends the old with the new? Boehly and the board have spent another £190m on four attackers this summer, and there may yet be more players coming in at Stamford Bridge. Our tactics expert Lee Scott takes a look at each of these players with a view to understanding how they might fit at Chelsea next season. Liam Delap England U21 international striker Liam Delap was one of the most coveted strikers in the window. BEST ONLINE CASINOS - TOP SITES IN THE UK There was significant interest in signing the former Man City academy player from rivals Man United. But it was Chelsea that moved quickest to secure the signature of the player for £30m. Last season Delap finished with 13 goals and 3 assists in all competitions for a team that were relegated. Compare that to Nicolas Jackson, the forward that Delap will likely replace at Chelsea, who scored 13 goals and had 6 assists for a team who created far more chances and crucially far more high quality chances. 17 17 Here, we see an example of what Delap brings to Chelsea, in the Club World Cup game with ES Tunis. He receives the chipped forward pass from Enzo Fernandez having found space between the fullback and the near side central defender. As he takes the ball down he takes contact from the fullback and holds the player off as he spins and drives into the area before finishing in style. One of the biggest criticisms of Jackson is that the Senegalese striker would regularly miss chances that appeared to be clear cut. He is strong in transition and shows good movement but his final action was still relatively erratic and not consistent enough. Delap, on the other hand, is a forward who pounces on half chances and is much more likely to take advantage of crosses and balls that are played into the area. Delap's strength is his ability to be a focal point on the last line and to create shooting opportunities. This is the aspect of his game that will be most beneficial for Chelsea in terms of upgrading what they had at the position last season. 17 17 Delap provides a genuine presence in the opposition penalty area. Here, as the ball is crossed to the far post we see the English striker keep himself alive and separated from defensive players. As the ball comes back across he has an easy finish. Delap is likely to start the season as the main striker for Chelsea with Jackson dropping to the bench. Joao Pedro The signing of the 23-year-old Brazilian Joao Pedro, for £60m from Brighton, is slightly more difficult to read. This is because it is difficult to decide what his best position really is. He is perhaps best described as a modern versatile forward. While looked amazing as a lone striker with his two-goal performance against Fluminense in the Club World Cup, he is best when playing in close connection to others. We believe there is a chance that he is being seen as an option to play as the advanced attacking midfielder just behind Delap. Last season the Brazilian forward ended the campaign with 10 goals and 7 assists as this more creative forward type for Brighton. 17 Here, we see the type of chance creation that Chelsea fans can expect to see from Joao Pedro. He takes possession initially on the near side and drives inside into space. He has the composure to see the run from his side towards the centre from Yankuba Minteh and he slides a pass through the last line to create a goalscoring opportunity. Even when Joao Pedro played as a central striker at Brighton and at Watford he showed a clear tendency to drop deeper in towards the midfield and to look for pockets of space between the lines. This is why we do not believe that he will regularly play as the No 9 as Maresca needs a 9 who will play, as Delap does, on the last line threatening space and pushing the opposition defensive line back. He does move the ball very well to find teammates and to take advantage of space that the opposition leaves behind. His technical level is extremely high and he shifts the ball effectively at speed taking advantage of any spaces that are present in the opposition defensive block. 17 17 17 17 This time we see Joao Pedro taking possession of the ball on the edge of the opposition area as Mitoma pulls the ball back to him. As he receives the ball there are two opposition players immediately pressing. The Brazilian international is intelligent enough to allow the press to develop before flicking the ball across to a teammate to finish. Joao Pedro will without a doubt bring value to Chelsea going into next season although it remains to be seen exactly how he will be used positionally by Maresca going into next season. Jamie Gittens The 20-year-old English U21 international Jamie Gittens has just moved to Chelsea from Borussia Dortmund in Germany. He played 2,803 minutes in all competitions and he ended with 12 goals and 5 assists. He is naturally right-footed and he typically plays as an attacking left-winger. Chelsea struggled for consistent production from their wingers last season with Noni Madueke arguably being the best wide attacker that they had. Now, Madueke appears to be for sale with several clubs showing significant interest as Chelsea perhaps look to make space for their new arrivals. Gittens is a wide attacker who is at his best when he gets the ball in positions where he can dribble and look to outplay opposition defenders in 1v1 situations. 17 17 Here, we see Gittens receiving the ball out wide in a position where he is faced up 1v1 against the opposition defender. He immediately takes the ball and looks to attack. He is well balanced with quick feet providing real threat in terms of outplaying the defender on either the inside or the outside. Gittens is still not the finished article but he is a young attacking player with genuine and real potential. If he develops properly then he could provide the point of difference in terms of having a real 1v1 threat that Chelsea were missing last season. Often they were too predictable when receiving the ball wide and Gittens is anything but predictable. He provides a threat in terms of shooting as he has a clear tendency to drive inside and even when defenders know that this is what he wants to do they still struggle to stop him. Again, here we see him receiving the ball in a position where he can immediately face up the opposition defender in a 1v1 situation. While he is well balanced and can attack down the outside he wants to create maximum threat and to go inside to a position where he can shoot at goal. Despite the fact that Gittens is not yet fully developed we still believe that there is a chance that he starts the new season as the first choice left-sided attacker for Chelsea. Estevao The most exciting of the new arrivals is the hardest to predict at this stage of his development. Chelsea moved quickly to secure the signing of the 18-year-old Brazilian international winger Estevao from Palmeiras. The youngster made his debut as a 16-year-old and very quickly started to attract interest. Now, Chelsea have beaten off competition for his signature. Estevao is a left-footed attacking player who profiles best as a right-sided attacking winger with his ability to come inside and create threat when coming inside in possession. He is a dangerous dribbler but he is at his most dangerous in the final third in positions where he can take the ball and come inside to create shooting opportunities for himself. 17 17 Here, we see Estevao actually scoring against Chelsea in the Club World Cup. He is positioned intelligently in the channel and as he receives the pass inside he immediately pushes the ball forward before then finishing with power at the near post. It remains to be seen whether Estevao is an immediate starter at Chelsea or whether he will back up the likes of Cole Palmer or even spend his first season in Europe on loan in France with Strasbourg. If he does remain at Chelsea though and if he does get first-team minutes then he has the quality to contribute. 17 This time we see the young Brazilian international holding a wide position to stretch the pitch and find space on the outside of the opposition defence. All it takes is one long pass to release Estevao into space as he drives forward and ends up scoring in the opposition area. He is intelligent in his positioning and in the runs that he makes. When playing with more technical and intelligent players at Chelsea he will likely make a real impact if he is given a chance to do so. Conclusion Knowing Chelsea and their ownership the way that we do now there is little doubt that their signings are not finished for next season. We will likely continue to see them be active in the market as they strengthen and add more young talent. With the four attacking players that have been added so far, however, there is little doubt that they have given Maresca more options next season.
Telegraph
31 minutes ago
- Telegraph
The high street looks Victoria Starmer wore to meet the Macrons
This week, British politicians and royals dusted off their glad rags for the state visit of France's Emmanuel Macron and his wife, Brigitte. While the Princess of Wales wore Dior and Sarah Burton for Givenchy, and Mrs Macron favoured her beloved Louis Vuitton, Sir Keir Starmer's wife, Victoria, and the leader of the opposition, Kemi Badenoch, chose instead to champion the great British high street. On the first day of the visit, Lady Starmer wore a £228 pleated navy and white dress by Reiss, an appropriately understated choice for a visit to Parliament Square to mark 20 years since the 7/7 bombings. As has increasingly become the case with her outfits, the dress has now almost completely sold out online. The following day, she opted for a long-sleeved floral maxi dress by Karen Millen for a visit to the British Museum, suitably breezy for the heatwave yet still elegant enough for the occasion. The Conservative leader Kemi Badenoch also chose a high street label for her meeting with the Macrons, opting for a vivid orange dress by LK Bennett. For a special service at St Paul's Cathedral to honour and remember the 7/7 attacks, Badenoch turned to the high street again, wearing a blue skirt suit by The Fold. Lady Starmer is known for championing the British high street, previously showing a fondness for the mid-market brand Me+Em, which she wore almost exclusively during her husband's campaign run and in the days afterwards last summer. Of course, it wasn't without controversy when it emerged that a political donor had paid for her wardrobe, but you can't criticise her good taste, or the sentiment behind it, which is to support the British fashion industry. And while the Princess of Wales's decision to nod to French fashion throughout the visit, with a touch of Englishness via Sarah Burton, is one way of exercising sartorial diplomacy, these women's choice of homegrown high street fashion brands is another. After all, the fashion industry is the largest of the creative industries in the UK, contributing approximately £60 billion per year to the economy and employing 1.3 million people. Yet despite having some of the world's most recognisable heritage brands, like Marks & Spencer, the high street has undoubtedly suffered over the past five years, hit hard by Covid lockdowns and the cost of living crisis. Of course, there are signs of hope. Topshop, once a juggernaut of millennial style, is returning with a pop-up next month, and new brands like Me+Em, Aligne and Nobody's Child are going from strength to strength. Yet more still needs to be done to ensure that our beloved British high street continues to bounce back, especially given competition from the likes of Spain with Zara and Mango, Scandinavia with H&M, Arket and Cos, and France with Sézane, Sandro, Maje and The Kooples. And for those who might think that what Lady Starmer or Kemi Badenoch wears doesn't matter, remember this: the luxury label Edeline Lee was very much a fashion editor's recommendation prior to when Victoria put it on the map last year, and there is consistent evidence that women copy what these high-profile figures choose to wear. 'When people in the public eye support British brands – whether mid range or top end – it sends a message to consumers that you can be at work, out for dinner, or even at a significant state visit and what our high street has to offer covers it all,' says Clare Bailey, founder of The Retail Champion. 'Shopping in our high streets and especially with our independent retailers is so important to keep those businesses alive and our high streets vibrant. We all know the 'Kate effect' – when she wears high street or more affordable branded items they sell out in record time – so for others in the public eye, whilst not quite the style icon that Kate has become, it certainly helps put high street fashion more front of mind with those following the news. With low cost online retailers like Shein and Temu eating away at sales traditionally diverted to our high street stores, now, more than ever, it is worth reminding ourselves that there's excellent choice, quality and style on the doorstep.' 'It's glorious to see Lady Starmer and Kemi Badenoch championing the stalwarts of the British High street,' agrees stylist Alexandra Fullerton. 'The UK has a heritage of excellent outerwear and country brands along with a reputation for nurturing the edgiest high fashion talent, but sometimes you just need a jolly good dress that doesn't cost an arm and a leg. Karen Millen, Reiss and LK Bennett are the places to go for elegant dresses that work for formal occasions but still have a dash of individuality about them, allowing the wearer's personal style to shine through. Lady Starmer and Badenoch's outfits are certain to trigger a flurry of sales from women wanting to look professional and polished. Lady Starmer has already proved herself adept at inspiring a sell-out after she wore scarlet Me+Em to join her husband at Downing Street last year.'
