FTSE 100 Snaps Best Winning Streak Since 2017 on Glum Earnings
The export-heavy FTSE 100 fell 0.1% at 8:13 a.m. in London. Lloyds Banking Group Plc dropped 1.9% as it missed earnings expectations and set aside more to prepare for a worsening economy.
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Yahoo
15 hours ago
- Yahoo
FTSE 100 LIVE: Stocks steady after Bank of England rate cut vote
The FTSE 100 (^FTSE) was higher and European stocks were mixed in early trade on Friday, ticking higher in an end to a busy week defined by central bank meetings and earnings. On Thursday, the Bank of England (BoE) cut interest rates for the fifth time in a year, as the UK economy struggles amid high inflation and a stagnant jobs market. The base rate is 4%. The monetary policy committee (MPC) voted by a majority of 5-4 to reduce the bank rate. Andrew Bailey, the bank's governor, said it was a "finely balanced decision" – the committee had to vote twice for the first time in its history following an initial deadlock in the committee. This move brings borrowing costs back to levels not seen since March 2023, the lowest in two years. The FTSE 100 (^FTSE) rose 0.3% as markets opened. Glencore (GLEN.L) was the top riser, up 2.3% following a near week-long selloff. The company's stock price is still down 4.5% since Monday. The DAX (^GDAXI) in Germany fell 0.2%. The CAC 40 (^FCHI) in Paris rose 0.3%. The pan-European STOXX 600 (^STOXX) ticked up 0.2%. The market is looking ahead to the EU's flash inflation reading later this morning. The Trade Desk tumbles Pedro Goncalves writes: Shares in The Trade Desk (TTD) plummeted by nearly 30% in pre-market trading on Friday, following the company's announcement of strong second-quarter results and a positive growth outlook. Despite beating analyst estimates, investors remained sceptical about the company's future growth trajectory. The advertising and marketing company reported Q2 2025 revenue of $694m (£516m), marking a 19% year-over-year increase. The company also exceeded earnings expectations, reporting $0.41 per share, compared to analysts' forecasts of $0.34. However, this positive performance wasn't enough to prevent a 28% plunge in its stock price during pre-market hours, which fell to $63.51 at the time of writing. CEO Jeff Green expressed confidence in the company's performance, particularly in areas like connected television advertising and the Kokai platform powered by artificial intelligence. 'We again posted strong growth in the second quarter,' Green said. 'Our revenue grew about 19% compared with Q2 last year, and we continue to outpace the digital advertising market.' Looking ahead, The Trade Desk (TTD) expects at least $717m in revenue for the third quarter of 2025, with adjusted EBITDA projected around $277m. Despite the upbeat outlook, the company's share price took a hit as investors expressed concerns over its Q3 projections, which, though strong, failed to ease doubts about the company's long-term growth prospects. FTSE 100 risers and fallers Sterling holds firm against dollar Sterling held firm against the dollar in early trade on Friday, moving slightly higher to end the week on a gain following a busy week on both sides of the Atlantic. The pound is sensitive to any move by the Bank of England, even if it's seen as favourable by markets. The latest 25 basis point rate cut on Thursday brought the base rate to 4% — but the way the monetary policy committee voted caught traders' eyes. 'The Bank of England has struck a hawkish surprise. Market participants had braced for no more than a couple of dissenters in favour of no change, and it's safe to say that the razor-thin 5-4 vote has turned a few heads," said Matthew Ryan, head of market strategy at global financial services firm Ebury. 'As many as four of the committee opted for no change (Greene, Lombardelli, Mann and Pill), Taylor voted for a 50bp cut, while the remaining four favoured a 25bp move. This triggered an unprecedented second round of voting, during which Taylor shifted his vote to a 25bp cut." Governor Andrew Bailey also stressed his usual line that any further cuts will be "slow and gradual". 'Sterling has posted modest gains, as investors slash bets in favour of additional cuts, with a November rate reduction now less than 50% priced in by swap markets," added Ryan. 'This presents a double-edged sword, as while the prospect of higher rates for longer should buoy the pound, the limited appetite for policy easing risks inflicting further damage on Britain's already fragile economy.' The pound traded at around the $1.344 mark by 9.15am in London. Gold futures near all-time highs Gold (GC=F) prices jumped on Friday morning in London following reports of a potential US tariff on one-kilo gold bars by the Financial Times. The report on Thursday referenced the Customs Border Protection Agency, which said one-kilo and 100-ounce gold (GC=F) bars would be subject to a new customs code following a ruling letter on 31 July seen by reporters. Gold (GC=F) futures were sent to fresh highs settling above the $3,500 an ounce mark after hitting an all-time high of $3,534.10, while spot gold rose 0.4% to $3,401 per ounce. "Rather like the copper market it's unbalanced the usual internal structure of the physical vs futures markets," said Neil Wilson, UK investor strategist at Saxo Markets. "The NY market is used by bullion banks as a hedging tool, so we're seeing shorts intended as hedges get blown up. For now the London spot price is the most reliable gauge of price." Gold prices have been sensitive in recent months amid geopolitical uncertainty sewn by president Donald Trump's tariffs. Price rises are usually an indicator of volatility in the rest of the market, as traders flock to assets that retain a steady value. The latest move is tricky for Switzerland in particular, which now faces a 39% tariff on one of its premium exports. In 2023, Switzerland's gold exports reached $109bn, making it the world's largest exporter of gold, according to the Observatory of Economic complexity. UK high street footfall dips in July UK high street footfall dipped for a second year running in July, with a heatwave failing to entice people to shops. Total UK footfall decreased by 0.4% year-on-year, up from -1.8% in June, the British Retail Consortium (BRC) said in its monthly update. Experts say spending may have moved to leisure activities such as watching the Women's Euros, rather than spending on the high street, as consumer sentiment remains cautious. High Street footfall decreased by 1.7% month-on-month in July, meanwhile, up from -3.0% in June. 'Customers want a vibrant shopping destination, but with around one in seven shops lying empty, more needs to be done to turn town and city centres into places people want to visit," said Helen Dickinson, chief executive of the BRC. Read more on Yahoo Finance UK Here's the futures chart US stock futures creep up Our US team writes: US stock futures edged higher on Friday as Wall Street assessed President Trump's nomination of Stephen Miran to the Federal Reserve Board of Governors and the close of the first day under his sweeping new tariffs. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) crept up 0.2%. In corporate earnings after the bell, Pinterest (PINS) tumbled on a profit miss, whereas Block (XYZ) jumped after reporting upbeat guidance. Stocks traded mixed during the day on Thursday as investors assessed a reshaped trade landscape after Trump's deadline for countries to strike deals on tariffs expired, setting in motion higher duties on dozens of countries worldwide. The indexes trimmed earlier losses following Trump's nomination of Stephen Miran, current chairman of the Council of Economic Advisors, to serve on the Fed board. Good morning! Hello from London. It's Friday (finally)! On the agenda today: Euro area — inflation, flash estimate Bank of England monetary policy report and briefing. Earnings: Munich Re ( RTL ( Trade Desk tumbles Pedro Goncalves writes: Shares in The Trade Desk (TTD) plummeted by nearly 30% in pre-market trading on Friday, following the company's announcement of strong second-quarter results and a positive growth outlook. Despite beating analyst estimates, investors remained sceptical about the company's future growth trajectory. The advertising and marketing company reported Q2 2025 revenue of $694m (£516m), marking a 19% year-over-year increase. The company also exceeded earnings expectations, reporting $0.41 per share, compared to analysts' forecasts of $0.34. However, this positive performance wasn't enough to prevent a 28% plunge in its stock price during pre-market hours, which fell to $63.51 at the time of writing. CEO Jeff Green expressed confidence in the company's performance, particularly in areas like connected television advertising and the Kokai platform powered by artificial intelligence. 'We again posted strong growth in the second quarter,' Green said. 'Our revenue grew about 19% compared with Q2 last year, and we continue to outpace the digital advertising market.' Looking ahead, The Trade Desk (TTD) expects at least $717m in revenue for the third quarter of 2025, with adjusted EBITDA projected around $277m. Despite the upbeat outlook, the company's share price took a hit as investors expressed concerns over its Q3 projections, which, though strong, failed to ease doubts about the company's long-term growth prospects. Pedro Goncalves writes: Shares in The Trade Desk (TTD) plummeted by nearly 30% in pre-market trading on Friday, following the company's announcement of strong second-quarter results and a positive growth outlook. Despite beating analyst estimates, investors remained sceptical about the company's future growth trajectory. The advertising and marketing company reported Q2 2025 revenue of $694m (£516m), marking a 19% year-over-year increase. The company also exceeded earnings expectations, reporting $0.41 per share, compared to analysts' forecasts of $0.34. However, this positive performance wasn't enough to prevent a 28% plunge in its stock price during pre-market hours, which fell to $63.51 at the time of writing. CEO Jeff Green expressed confidence in the company's performance, particularly in areas like connected television advertising and the Kokai platform powered by artificial intelligence. 'We again posted strong growth in the second quarter,' Green said. 'Our revenue grew about 19% compared with Q2 last year, and we continue to outpace the digital advertising market.' Looking ahead, The Trade Desk (TTD) expects at least $717m in revenue for the third quarter of 2025, with adjusted EBITDA projected around $277m. Despite the upbeat outlook, the company's share price took a hit as investors expressed concerns over its Q3 projections, which, though strong, failed to ease doubts about the company's long-term growth prospects. FTSE 100 risers and fallers Sterling holds firm against dollar Sterling held firm against the dollar in early trade on Friday, moving slightly higher to end the week on a gain following a busy week on both sides of the Atlantic. The pound is sensitive to any move by the Bank of England, even if it's seen as favourable by markets. The latest 25 basis point rate cut on Thursday brought the base rate to 4% — but the way the monetary policy committee voted caught traders' eyes. 'The Bank of England has struck a hawkish surprise. Market participants had braced for no more than a couple of dissenters in favour of no change, and it's safe to say that the razor-thin 5-4 vote has turned a few heads," said Matthew Ryan, head of market strategy at global financial services firm Ebury. 'As many as four of the committee opted for no change (Greene, Lombardelli, Mann and Pill), Taylor voted for a 50bp cut, while the remaining four favoured a 25bp move. This triggered an unprecedented second round of voting, during which Taylor shifted his vote to a 25bp cut." Governor Andrew Bailey also stressed his usual line that any further cuts will be "slow and gradual". 'Sterling has posted modest gains, as investors slash bets in favour of additional cuts, with a November rate reduction now less than 50% priced in by swap markets," added Ryan. 'This presents a double-edged sword, as while the prospect of higher rates for longer should buoy the pound, the limited appetite for policy easing risks inflicting further damage on Britain's already fragile economy.' The pound traded at around the $1.344 mark by 9.15am in London. Sterling held firm against the dollar in early trade on Friday, moving slightly higher to end the week on a gain following a busy week on both sides of the Atlantic. The pound is sensitive to any move by the Bank of England, even if it's seen as favourable by markets. The latest 25 basis point rate cut on Thursday brought the base rate to 4% — but the way the monetary policy committee voted caught traders' eyes. 'The Bank of England has struck a hawkish surprise. Market participants had braced for no more than a couple of dissenters in favour of no change, and it's safe to say that the razor-thin 5-4 vote has turned a few heads," said Matthew Ryan, head of market strategy at global financial services firm Ebury. 'As many as four of the committee opted for no change (Greene, Lombardelli, Mann and Pill), Taylor voted for a 50bp cut, while the remaining four favoured a 25bp move. This triggered an unprecedented second round of voting, during which Taylor shifted his vote to a 25bp cut." Governor Andrew Bailey also stressed his usual line that any further cuts will be "slow and gradual". 'Sterling has posted modest gains, as investors slash bets in favour of additional cuts, with a November rate reduction now less than 50% priced in by swap markets," added Ryan. 'This presents a double-edged sword, as while the prospect of higher rates for longer should buoy the pound, the limited appetite for policy easing risks inflicting further damage on Britain's already fragile economy.' The pound traded at around the $1.344 mark by 9.15am in London. Gold futures near all-time highs Gold (GC=F) prices jumped on Friday morning in London following reports of a potential US tariff on one-kilo gold bars by the Financial Times. The report on Thursday referenced the Customs Border Protection Agency, which said one-kilo and 100-ounce gold (GC=F) bars would be subject to a new customs code following a ruling letter on 31 July seen by reporters. Gold (GC=F) futures were sent to fresh highs settling above the $3,500 an ounce mark after hitting an all-time high of $3,534.10, while spot gold rose 0.4% to $3,401 per ounce. "Rather like the copper market it's unbalanced the usual internal structure of the physical vs futures markets," said Neil Wilson, UK investor strategist at Saxo Markets. "The NY market is used by bullion banks as a hedging tool, so we're seeing shorts intended as hedges get blown up. For now the London spot price is the most reliable gauge of price." Gold prices have been sensitive in recent months amid geopolitical uncertainty sewn by president Donald Trump's tariffs. Price rises are usually an indicator of volatility in the rest of the market, as traders flock to assets that retain a steady value. The latest move is tricky for Switzerland in particular, which now faces a 39% tariff on one of its premium exports. In 2023, Switzerland's gold exports reached $109bn, making it the world's largest exporter of gold, according to the Observatory of Economic complexity. Gold (GC=F) prices jumped on Friday morning in London following reports of a potential US tariff on one-kilo gold bars by the Financial Times. The report on Thursday referenced the Customs Border Protection Agency, which said one-kilo and 100-ounce gold (GC=F) bars would be subject to a new customs code following a ruling letter on 31 July seen by reporters. Gold (GC=F) futures were sent to fresh highs settling above the $3,500 an ounce mark after hitting an all-time high of $3,534.10, while spot gold rose 0.4% to $3,401 per ounce. "Rather like the copper market it's unbalanced the usual internal structure of the physical vs futures markets," said Neil Wilson, UK investor strategist at Saxo Markets. "The NY market is used by bullion banks as a hedging tool, so we're seeing shorts intended as hedges get blown up. For now the London spot price is the most reliable gauge of price." Gold prices have been sensitive in recent months amid geopolitical uncertainty sewn by president Donald Trump's tariffs. Price rises are usually an indicator of volatility in the rest of the market, as traders flock to assets that retain a steady value. The latest move is tricky for Switzerland in particular, which now faces a 39% tariff on one of its premium exports. In 2023, Switzerland's gold exports reached $109bn, making it the world's largest exporter of gold, according to the Observatory of Economic complexity. UK high street footfall dips in July UK high street footfall dipped for a second year running in July, with a heatwave failing to entice people to shops. Total UK footfall decreased by 0.4% year-on-year, up from -1.8% in June, the British Retail Consortium (BRC) said in its monthly update. Experts say spending may have moved to leisure activities such as watching the Women's Euros, rather than spending on the high street, as consumer sentiment remains cautious. High Street footfall decreased by 1.7% month-on-month in July, meanwhile, up from -3.0% in June. 'Customers want a vibrant shopping destination, but with around one in seven shops lying empty, more needs to be done to turn town and city centres into places people want to visit," said Helen Dickinson, chief executive of the BRC. Read more on Yahoo Finance UK UK high street footfall dipped for a second year running in July, with a heatwave failing to entice people to shops. Total UK footfall decreased by 0.4% year-on-year, up from -1.8% in June, the British Retail Consortium (BRC) said in its monthly update. Experts say spending may have moved to leisure activities such as watching the Women's Euros, rather than spending on the high street, as consumer sentiment remains cautious. High Street footfall decreased by 1.7% month-on-month in July, meanwhile, up from -3.0% in June. 'Customers want a vibrant shopping destination, but with around one in seven shops lying empty, more needs to be done to turn town and city centres into places people want to visit," said Helen Dickinson, chief executive of the BRC. Read more on Yahoo Finance UK Here's the futures chart US stock futures creep up Our US team writes: US stock futures edged higher on Friday as Wall Street assessed President Trump's nomination of Stephen Miran to the Federal Reserve Board of Governors and the close of the first day under his sweeping new tariffs. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) crept up 0.2%. In corporate earnings after the bell, Pinterest (PINS) tumbled on a profit miss, whereas Block (XYZ) jumped after reporting upbeat guidance. Stocks traded mixed during the day on Thursday as investors assessed a reshaped trade landscape after Trump's deadline for countries to strike deals on tariffs expired, setting in motion higher duties on dozens of countries worldwide. The indexes trimmed earlier losses following Trump's nomination of Stephen Miran, current chairman of the Council of Economic Advisors, to serve on the Fed board. Our US team writes: US stock futures edged higher on Friday as Wall Street assessed President Trump's nomination of Stephen Miran to the Federal Reserve Board of Governors and the close of the first day under his sweeping new tariffs. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) crept up 0.2%. In corporate earnings after the bell, Pinterest (PINS) tumbled on a profit miss, whereas Block (XYZ) jumped after reporting upbeat guidance. Stocks traded mixed during the day on Thursday as investors assessed a reshaped trade landscape after Trump's deadline for countries to strike deals on tariffs expired, setting in motion higher duties on dozens of countries worldwide. The indexes trimmed earlier losses following Trump's nomination of Stephen Miran, current chairman of the Council of Economic Advisors, to serve on the Fed board. Good morning! Hello from London. It's Friday (finally)! On the agenda today: Euro area — inflation, flash estimate Bank of England monetary policy report and briefing. Earnings: Munich Re ( RTL ( Hello from London. It's Friday (finally)! On the agenda today: Euro area — inflation, flash estimate Bank of England monetary policy report and briefing. Earnings: Munich Re ( RTL ( Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
18 hours ago
- CNBC
European stocks poised for muted open as tariffs, economy hold spotlight
A street sign is seen near the New York Stock Exchange (NYSE) in New York City, New York, U.S., August 7, 2025. Eduardo Munoz | Reuters An aerial view of central London. Henry Nicholls | Afp | Getty Images Hello from London. Regional indexes look set for a muted open this morning, with futures tied to the FTSE 100 and Germany's DAX trading flat, while those tied to the French CAC 40 were last seen trading 0.2% higher. Euro Stoxx 50 futures are little changed. European shares ended Thursday's session higher after Moscow confirmed Russian President Vladimir Putin was scheduled to meet with U.S. counterpart Donald Trump within days. — Chloe Taylor
Yahoo
a day ago
- Yahoo
FTSE 100 slips ahead of BoE rate decision, mixed earnings weigh on sentiment
(Reuters) -British benchmark index FTSE 100 slipped on Thursday, as investors weighed a mixed bag of corporate results and awaited the Bank of England's rate decision due later in the day. The blue-chip FTSE 100 was down 0.2% as of 0927 GMT. The BoE looks poised to cut interest rates for the fifth time in 12 months on Thursday, but lingering inflation concerns could divide policymakers and impact future rate decisions. Investors will closely watch if the central bank maintains its "gradual and careful" tone on policy easing. In the market, aerospace and defence stocks led the sectoral decline, down 2.6%, after German defence company Rheinmetall missed quarterly results expectations, dragging down European peers. Britain's BAE Systems and Babcock were among the top losers in the FTSE 100, down 4.4% and 4.5% respectively. Hikma Pharmaceuticals fell the most in the benchmark index, down 6.7%, after a strong euro prompted the group to lower its margin outlook for its injectables unit. Healthcare stocks fell 1.1%, with AstraZeneca down 1.5%. Adding to the sector's woes, U.S. President Donald Trump said on Tuesday that Washington would initially place a "small tariff" on pharmaceutical imports, eventually increasing it to 250%. Additionally, sterling rose against a weakening dollar, which further pressured the export-oriented companies. On trade, Trump's higher tariffs of 10% to 50% on dozens of trading partners kicked in on Thursday, testing his bid to shrink U.S. trade deficits without triggering inflation, supply chain disruptions or retaliation from trading partners. Meanwhile, the domestically focused midcap FTSE 250 rose 0.3%, with Harbour Energy's 12.6% jump after the oil and gas producer raised its annual forecast. Among other individual stocks, InterContinental Hotels Group (IHG) rose 6.7% following the Holiday Inn owner reported a jump in first-half profit. WPP fell 2.7%, touching its lowest since July 2009, after the British ad group halved its interim dividend. Sign in to access your portfolio
