FTSE 100 matches longest run of consecutive gains in eight years
The biggest risers on the FTSE 100 were Entain, up 40p to 628.2p, Kingfisher, up 8.1p to 279p, Howden Joinery, up 17p to 739p, BT, up 3.95p to 171.95p, and Hikma Pharmaceuticals, up 38p to 1937p.
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Reuters
an hour ago
- Reuters
UK's Halma hits record high after profit beat, upbeat revenue forecast
June 12 (Reuters) - British health and safety device maker Halma (HLMA.L), opens new tab on Thursday forecast higher revenue growth for fiscal year 2026 and beat annual profit expectations, sending its shares to a record high. At a time when global companies are taking action to mitigate the costs of tariffs imposed by U.S. President Donald Trump, the British firm said it expects minimal impact on its operations due to a strong local manufacturing footprint. Halma operates in over 20 countries, and it counts the United States as its biggest revenue contributor. "With around 90% of U.S. sales produced domestically and over 45 subsidiaries sourcing locally, the company has a natural hedge against cross-border trade disruptions," finance chief Carole Cran told Reuters in an interview. Shares of the company were up as much 5.64% at 3334 pence. The stock was the top gainer on the benchmark FTSE 100 index (.FTSE), opens new tab. Halma expects organic revenue growth for the current year in "upper single-digits", compared with estimates of a 6% rise, as per a company-compiled consensus. The firm, which operates over 45 businesses across safety, healthcare and environmental & analysis, said its responses to tariffs included passing surcharges or adjusting sourcing, Cran said. The various companies under Halma are affected differently, Cran said, adding that some relied on local manufacturing, while others source from China. "Achieving such a performance in varied and fast changing conditions is exceptional in terms of really giving us confidence as we move forward," CEO Marc Ronchetti said. The company expects adjusted operating profit margin to be "modestly above" the mid-point of its 19%-23% target range. The Buckinghamshire-headquartered firm's adjusted pretax profit rose 16% to 459.4 million pounds ($621.8 million) for the year to March 31, ahead of a company-compiled consensus of 447 million pounds. It lifted its annual dividend by 7% to 23.12 pence per share. ($1 = 0.7388 pounds)
Reuters
2 hours ago
- Reuters
Energy stocks keep FTSE 100 steady as trade deal optimism wanes
June 12 (Reuters) - London's FTSE 100 was slightly lower on Thursday as recent optimism around the U.S.-China trade deal waned, but gains in heavyweight energy stocks and some companies limited declines. The benchmark FTSE 100 (.FTSE), opens new tab was flat as of 0901 GMT, after coming within touching distance of an intraday record high. Mid-caps (.FTMC), opens new tab were down 0.6%. U.S. President Donald Trump said on Wednesday that he was willing to extend a July 8 deadline for completing trade talks with countries, but it was not likely necessary as the U.S. would specify the terms of deals in a week or so. The announcement comes after trade talks with China resulted in a deal to bring their truce back on track but failed to impress investors. Risk assets sold off globally, with stocks lower in Asia (.CSI300), opens new tab, (.HSI), opens new tab and Europe (.STOXX), opens new tab. The main U.S. stock index futures were also down over 0.4% each. Geopolitical tensions also added to the cautious mood after Trump pulled some personnel from the Middle east amid mounting tensions with Iran. However, the FTSE 100 managed to outperform peers as heavyweight energy stocks (.FTNMX601010), opens new tab gained 1.4%. Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab were the biggest boosts to the index. Some corporate news also helped, with personal care stocks (.FTNMX452010), opens new tab up 0.9%, powered by a 2.3% gain in Tesco (TSCO.L), opens new tab after the food retailer's UK sales growth accelerated in the first quarter. Health and safety device maker Halma (HLMA.L), opens new tab gained 4.1% after its annual adjusted pretax profit beat expectations. Worries around UK-U.S. trade tensions were also lower as the country is the only one to have signed a trade deal with the U.S. after Trump's scathing tariffs shook up global financial markets. Meanwhile, data showed that the British economy shrank more-than-expected, the biggest monthly drop since October 2023. Among other stocks, Intermediate Capital Group (ICGIN.L), opens new tab and JD Sports (JD.L), opens new tab lost 4% and 2.8%, respectively, as they traded without entitlement to their latest dividend payout.
Reuters
a day ago
- Reuters
London stocks gain ahead of spending review, US data
June 11 (Reuters) - London's FTSE 100 edged up towards an all-time high on Wednesday, as investors awaited a domestic public spending review and crucial U.S. inflation data scheduled in the day. The benchmark FTSE 100 (.FTSE), opens new tab was up 0.1%, coming close to an intraday record high. The mid-cap FTSE 250 (.FTMC), opens new tab was up 0.4% as of 0913 GMT. All eyes on the day were on Finance Minister Rachel Reeves' speech, where she will divide up more than 2 trillion pounds ($2.7 trillion) of public spending aimed at stimulating the British economy. Homebuilders and household goods stocks (.FTNMX402020), opens new tab gained 2.8% to hit a more than seven month-high, with Vistry (VTYV.L), opens new tab up 9%, Crest Nicholson (CRST.L), opens new tab gaining 5.5% and Bellway (BWY.L), opens new tab advancing 3% ahead of the speech. Most sectors were higher in the market, though heavyweight energy shares (.FTNMX601010), opens new tab weighed down 0.6%. Investors also awaited a key U.S. inflation reading for any signs that President Donald Trump's erratic tariff policies had started to show their impact on the economy. Representatives from the U.S. and China late on Tuesday agreed on a framework to put their trade truce back on track and remove some export restrictions from both sides. The agreement, however, is pending approval from the countries' leaders. Any signs of the deal coming into effect will be taken in stride by markets that have been grappling with the uncertainty created by an ever-changing U.S. trade policy and its impact on global economic growth. Ibstock sank 12.8% to the bottom of the FTSE 250, after warning of a hit to its adjusted EBITDA outlook for 2025. Ricardo shares jumped 25% to their highest level since early January after Canada-based WSP Global ( opens new tab said it would acquire British environmental and engineering consulting firm for about 363.1 million pounds ($489.6 million) including debt. Quilter (QLT.L), opens new tab gained 5.6%, among the toppers on the FTSE 100, after UBS upgraded the wealth manager's stock to "buy" from "neutral".
