Latest news with #EuropeanStocks
Yahoo
a day ago
- Business
- Yahoo
FTSE 100 LIVE: Markets higher as attention turns to slew of earnings reports
The FTSE 100 (^FTSE) and European stocks headed higher on Tuesday morning, recouping losses from the previous session as traders' attention turns to the crop of quarterly company updates slated for this week. Barclays (BARC.L) bank reported second quarter results before the opening bell in London, with its stock price hovering as it announced £1bn in share buybacks. The bank's earnings call is at 2.30pm. In Europe a crop of fashion and luxury retailers are set to report, including Kering ( Christian Dior ( and L'Oreal ( In the US, reports from Visa (V), Procter & Gamble (PG), United Health (UEEC), Boeing (BA), Spotify (SPOT) and Starbuck's (SBUX) are on the agenda. Eyes will also be on movement in the UK's position on sending aid to Gaza, as prime minister Keir Starmer recalls his cabinet today following a meeting with president Donald Trump in Scotland. London's premier index gained 0.1% in early trade. At the top of the index were Melrose Industries (MRO.L) and Games Workshop (GAW.L). Over in Germany, the DAX (^GDAXI) added 0.6%. Paris shares rose, with the CAC 40 (^FCHI) also adding 0.6%. The pan-European STOXX 600 (^STOXX) up 0.3%. Tea and meat feed UK food price increases Yahoo Finance UK's Pedro Goncalves writes: UK families are paying more every time they go grocery shopping, as food price inflation surged for the sixth consecutive month in July, driven by a rise in the costs of meat and tea, according to the British Retail Consortium (BRC). The figures show that food prices are now 4% higher than a year ago, up from 3.7% in June and surpassing the three-month average of 3.5%. Fresh food inflation remained steady at 3.2%, while ambient food prices saw a more significant jump, climbing to 5.1% compared to last June, up from 4.3% the previous month. Overall, shop price inflation also increased, rising to 0.7% in July, up from 0.4% in June, and above the three-month average of 0.3%. Helen Dickinson, chief executive of the BRC, warned that the increase in food price inflation will be felt by households across the country. 'Families will have seen their food bills increase as food price inflation rose for the sixth consecutive month," she said. "Staples such as meat and tea were hit the hardest as wholesale prices for both categories have been hit by tighter global supplies. This has helped push up overall shop prices." Read more on Yahoo Finance UK Average rent surges to £2,712 in London and £1,365 across UK The cost of rent in London has climbed for a 15th consecutive quarter to hit a record high of £2,712 per month, while tenants across the rest of the UK are paying on average £1,365. The data from property site Rightmove (RMV.L) showed that new tenants are now paying an average of £417 more in monthly rent compared to 2020. This is a 44% increase in rents, well above the 36% rise in average earnings over the same period. Rightmove's property expert Colleen Babcock said: 'Despite another new record in average asking rents for tenants, the big picture is that yearly rent increases continue to slow, which is good news for tenants." "Supply and demand is slowly rebalancing towards more normal levels, though we still have a way to go before we reach pre-2020 levels of available homes for tenants. The good news is that the latest industry snapshot suggests more investors are taking out buy-to-let loans compared with last year, which should help to bring even more homes to the rental market.' Read more on Yahoo Finance UK How Barclays shares are faring in early trade Barclays announces £1bn buyback Yahoo Finance UK's Vicky McKeever writes: Barclays (BARC.L) beat profit expectations in the second quarter and announced a further £1bn in share buybacks. Pre-tax profit rose 28% in the second quarter to £2.84bn, results released on Tuesday showed. That exceeded expectations of £2.24bn, according to consensus estimates provided by the bank. For the first half, profit before tax totalled £5.2bn, which was up 23% from the same period last year. Total income was up 14% in the second quarter at £7.19bn, which was also ahead of expectations of £7.01bn. Group net interest income — the gap between what the bank pays out to savers and receives from borrowers in interest — excluding Barclays Investment Bank and head office, came in at £3.1bn, up 13% year-on-year. Barclays also recorded a return on tangible equity — a key measure of profitability — of 12.3% in the second quarter, up from 9.9% for the same period in 2024. Read more on Yahoo Finance UK US stock futures higher ahead of Fed and earnings Our US team writes: US stock futures made gains as Wall Street prepared for fresh earnings and economic data amid a blockbuster week poised to shake markets. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) gained 0.2%. While contracts on the Nasdaq 100 (NQ=F) ticked up 0.3%. On Monday, the S&P 500 and Nasdaq eked out record highs amid an otherwise subdued trading session as Wall Street digested a new trade deal between the US and EU. Good morning! Hello from London. Lucy Harley-McKeown here — ready to bring you the business and markets news of the day. We kicked off the week with an EU-US trade deal. There will no doubt be more details on that to come. In central bank news, the US's Federal Reserve kicks of a two-day meeting about rates today. Traders are also readying themselves for a week of earnings. This morning in London: Barclays' (BARC.L) second quarter report In the US we're looking out for: Visa (V), Procter & Gamble (PG), United Health (UEEC), Boeing (BA), Spotify (SPOT), Starbuck's (SBUX), among others. Let's get to it. Tea and meat feed UK food price increases Yahoo Finance UK's Pedro Goncalves writes: UK families are paying more every time they go grocery shopping, as food price inflation surged for the sixth consecutive month in July, driven by a rise in the costs of meat and tea, according to the British Retail Consortium (BRC). The figures show that food prices are now 4% higher than a year ago, up from 3.7% in June and surpassing the three-month average of 3.5%. Fresh food inflation remained steady at 3.2%, while ambient food prices saw a more significant jump, climbing to 5.1% compared to last June, up from 4.3% the previous month. Overall, shop price inflation also increased, rising to 0.7% in July, up from 0.4% in June, and above the three-month average of 0.3%. Helen Dickinson, chief executive of the BRC, warned that the increase in food price inflation will be felt by households across the country. 'Families will have seen their food bills increase as food price inflation rose for the sixth consecutive month," she said. "Staples such as meat and tea were hit the hardest as wholesale prices for both categories have been hit by tighter global supplies. This has helped push up overall shop prices." Read more on Yahoo Finance UK Yahoo Finance UK's Pedro Goncalves writes: UK families are paying more every time they go grocery shopping, as food price inflation surged for the sixth consecutive month in July, driven by a rise in the costs of meat and tea, according to the British Retail Consortium (BRC). The figures show that food prices are now 4% higher than a year ago, up from 3.7% in June and surpassing the three-month average of 3.5%. Fresh food inflation remained steady at 3.2%, while ambient food prices saw a more significant jump, climbing to 5.1% compared to last June, up from 4.3% the previous month. Overall, shop price inflation also increased, rising to 0.7% in July, up from 0.4% in June, and above the three-month average of 0.3%. Helen Dickinson, chief executive of the BRC, warned that the increase in food price inflation will be felt by households across the country. 'Families will have seen their food bills increase as food price inflation rose for the sixth consecutive month," she said. "Staples such as meat and tea were hit the hardest as wholesale prices for both categories have been hit by tighter global supplies. This has helped push up overall shop prices." Read more on Yahoo Finance UK Average rent surges to £2,712 in London and £1,365 across UK The cost of rent in London has climbed for a 15th consecutive quarter to hit a record high of £2,712 per month, while tenants across the rest of the UK are paying on average £1,365. The data from property site Rightmove (RMV.L) showed that new tenants are now paying an average of £417 more in monthly rent compared to 2020. This is a 44% increase in rents, well above the 36% rise in average earnings over the same period. Rightmove's property expert Colleen Babcock said: 'Despite another new record in average asking rents for tenants, the big picture is that yearly rent increases continue to slow, which is good news for tenants." "Supply and demand is slowly rebalancing towards more normal levels, though we still have a way to go before we reach pre-2020 levels of available homes for tenants. The good news is that the latest industry snapshot suggests more investors are taking out buy-to-let loans compared with last year, which should help to bring even more homes to the rental market.' Read more on Yahoo Finance UK The cost of rent in London has climbed for a 15th consecutive quarter to hit a record high of £2,712 per month, while tenants across the rest of the UK are paying on average £1,365. The data from property site Rightmove (RMV.L) showed that new tenants are now paying an average of £417 more in monthly rent compared to 2020. This is a 44% increase in rents, well above the 36% rise in average earnings over the same period. Rightmove's property expert Colleen Babcock said: 'Despite another new record in average asking rents for tenants, the big picture is that yearly rent increases continue to slow, which is good news for tenants." "Supply and demand is slowly rebalancing towards more normal levels, though we still have a way to go before we reach pre-2020 levels of available homes for tenants. The good news is that the latest industry snapshot suggests more investors are taking out buy-to-let loans compared with last year, which should help to bring even more homes to the rental market.' Read more on Yahoo Finance UK How Barclays shares are faring in early trade Barclays announces £1bn buyback Yahoo Finance UK's Vicky McKeever writes: Barclays (BARC.L) beat profit expectations in the second quarter and announced a further £1bn in share buybacks. Pre-tax profit rose 28% in the second quarter to £2.84bn, results released on Tuesday showed. That exceeded expectations of £2.24bn, according to consensus estimates provided by the bank. For the first half, profit before tax totalled £5.2bn, which was up 23% from the same period last year. Total income was up 14% in the second quarter at £7.19bn, which was also ahead of expectations of £7.01bn. Group net interest income — the gap between what the bank pays out to savers and receives from borrowers in interest — excluding Barclays Investment Bank and head office, came in at £3.1bn, up 13% year-on-year. Barclays also recorded a return on tangible equity — a key measure of profitability — of 12.3% in the second quarter, up from 9.9% for the same period in 2024. Read more on Yahoo Finance UK Yahoo Finance UK's Vicky McKeever writes: Barclays (BARC.L) beat profit expectations in the second quarter and announced a further £1bn in share buybacks. Pre-tax profit rose 28% in the second quarter to £2.84bn, results released on Tuesday showed. That exceeded expectations of £2.24bn, according to consensus estimates provided by the bank. For the first half, profit before tax totalled £5.2bn, which was up 23% from the same period last year. Total income was up 14% in the second quarter at £7.19bn, which was also ahead of expectations of £7.01bn. Group net interest income — the gap between what the bank pays out to savers and receives from borrowers in interest — excluding Barclays Investment Bank and head office, came in at £3.1bn, up 13% year-on-year. Barclays also recorded a return on tangible equity — a key measure of profitability — of 12.3% in the second quarter, up from 9.9% for the same period in 2024. Read more on Yahoo Finance UK US stock futures higher ahead of Fed and earnings Our US team writes: US stock futures made gains as Wall Street prepared for fresh earnings and economic data amid a blockbuster week poised to shake markets. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) gained 0.2%. While contracts on the Nasdaq 100 (NQ=F) ticked up 0.3%. On Monday, the S&P 500 and Nasdaq eked out record highs amid an otherwise subdued trading session as Wall Street digested a new trade deal between the US and EU. Our US team writes: US stock futures made gains as Wall Street prepared for fresh earnings and economic data amid a blockbuster week poised to shake markets. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) gained 0.2%. While contracts on the Nasdaq 100 (NQ=F) ticked up 0.3%. On Monday, the S&P 500 and Nasdaq eked out record highs amid an otherwise subdued trading session as Wall Street digested a new trade deal between the US and EU. Good morning! Hello from London. Lucy Harley-McKeown here — ready to bring you the business and markets news of the day. We kicked off the week with an EU-US trade deal. There will no doubt be more details on that to come. In central bank news, the US's Federal Reserve kicks of a two-day meeting about rates today. Traders are also readying themselves for a week of earnings. This morning in London: Barclays' (BARC.L) second quarter report In the US we're looking out for: Visa (V), Procter & Gamble (PG), United Health (UEEC), Boeing (BA), Spotify (SPOT), Starbuck's (SBUX), among others. Let's get to it. Hello from London. Lucy Harley-McKeown here — ready to bring you the business and markets news of the day. We kicked off the week with an EU-US trade deal. There will no doubt be more details on that to come. In central bank news, the US's Federal Reserve kicks of a two-day meeting about rates today. Traders are also readying themselves for a week of earnings. This morning in London: Barclays' (BARC.L) second quarter report In the US we're looking out for: Visa (V), Procter & Gamble (PG), United Health (UEEC), Boeing (BA), Spotify (SPOT), Starbuck's (SBUX), among others. Let's get to it. Sign in to access your portfolio
Reuters
2 days ago
- Business
- Reuters
Four themes powering Europe's equity bull market
LONDON/GDANSK, July 28 (Reuters) - European stocks are near record highs again, seemingly shaking off tense trade talks and currency headwinds, while volatility has evaporated, giving rise to four key themes that investors are playing as they wait for the next major catalyst. The STOXX 600 posted its best first-quarter relative to the S&P 500 in a decade - but is now clocking an 8.4% gain in 2025, just a touch ahead of the S&P 500's 8.2% rise. The European Union over the weekend reached a framework deal with the U.S. for tariffs of 15%. But optimism has been building for some time that the two sides would avert a damaging trade war and the data points to an economy that is holding up for now. Investors are warming to four key themes at play under the surface of the European stock market. A performance gap has emerged between euro zone domestic-focused stocks and exporters, all thanks to a stronger euro, which has risen 13.4% versus the dollar in 2025 , hurting exporter earnings. Trade-sensitive sectors like autos and consumer durables have fallen behind, while domestically-oriented stocks like banks and utilities have soared. A STOXX autos basket (.SXAP), opens new tab added over 3% last week after news of a U.S.-Japan trade deal, but is still about 1% lower in 2025, a stark contrast to a 35% increase in bank stocks (.SX7P), opens new tab and 15% surge in utilities. (.SX6P), opens new tab Analysts have been revising down overall 2025 earnings forecasts in Europe, but zooming in, there is a clear split between the pace of earnings revisions for euro zone exporters versus domestic plays, with the forward EPS of exporters dropping at an accelerated pace. JPMorgan equity strategists advise clients to keep favouring domestics over exporters in their non-U.S. portfolios, while Barclays equity strategists say the current positioning gap is so extreme that the risk of a reversal is rising. Helen Jewell, CIO of BlackRock Fundamental Equities EMEA, flagged select opportunities in the export-focused luxury and semiconductor sectors. "If we get some resolution of where the tariffs are and if we get some sort of levelling out of the dollar, I think these names will start to perform well, and that could potentially be the second leg for the European story,' Jewell said. Germany's massive spending plans, aimed at boosting the country's economy after decades of fiscal conservatism, brought optimism to broader European markets, as EU companies are set to benefit from increased spending on defense and infrastructure. The U.S. tariff announcement in April caused a massive stock sell-off, but the German DAX (.GDAXI), opens new tab has since recovered to touch a fresh year high in July. Midcap stocks (.MDAXI), opens new tab have followed a similar path. Both indexes are up over 20% this year and set for their strongest annual performance since 2019. "The relevance of Germany as a market for EU countries is great," Uwe Hohmann, equity strategist at Metzler Capital Markets said, pointing to the country's strong trade relationship with other EU states. Germany's spending plans will have a modest effect on European growth, according to the European Commission's spring economic forecasts, but the market impact is expected to be profound. "...the optimism around the German fiscal balance will still be the main driver of European markets in the next years," said Nabil Milali, portfolio manager at Edmond de Rothschild Asset Management, warning however that money will not concretely flow into the economy until 2026 at least. A potential deterioration in trade relationships with the U.S. or China could dampen sentiment on European equity markets, at least in the short term. "It would then only and mostly solely depend on what's going on in the German political arena, which is, I think, probably not good enough on a standalone basis to support an overall positive trend," said Hohmann. European small-caps are on track to outperform large-caps in Europe for the first time since 2020. A basket of European small caps (.MIEU000S0NEU), opens new tab is up 13.4% in 2025, outperforming its large cap counterpart (.MIEU000L0NEU), opens new tab which is up 9.1%, for the first time since 2020. Since April, Graham Secker, head of equity strategy, Pictet Wealth Management said a stronger euro and better economic outlook have driven the small-cap turnaround. "European small-caps were the proverbial value-trap: you're cheap but you stay cheap until something changes," said Secker, adding that in illiquid areas of the market, it doesn't take much to move the dial. "There has been a lot of interest with the fiscal stimulus announcement out of Germany for revisiting German mid- and small-caps, as probably the cleanest way to play the fiscal push that's coming through Europe," Secker said. Talking size, some smaller markets have also been outperforming the wider European landscape this year. Indexes in Czech Republic (.PX), opens new tab, Greece (.ATG), opens new tab and Poland (.WIG), opens new tab have added 25%, 35% and 37%, respectively, compared with an 8% rise in the STOXX 600 (.STOXX), opens new tab. "I think the positioning of investors is going more and more towards these smaller markets" which are benefiting from sectorial factors and higher exposure to the domestic economy, said Edmond de Rothschild's Milali.
Yahoo
22-07-2025
- Business
- Yahoo
FTSE 100 LIVE: London stocks tread water as UK borrowing jumps above £20bn
The FTSE 100 (^FTSE) hovered and European stocks fell for a second day as traders digest the latest public sector borrowing figures showed government borrowing was higher than expected, with net borrowing reaching £20.7bn in June. This was the second highest borrowing figure since monthly records began in 1993, after that of June 2020 during the COVID-19 pandemic. The figures cast a further shadow on chancellor Rachel Reeves' efforts to put the public purse in order, as government policy continues to come under scrutiny, particularly on welfare benefits and defence spending. London's premier index was flat, with mining stocks such as Rio Tinto (RIO.L) and Glencore (GLEN.L) heading to the top of the index for a second day running. The DAX (^GDAXI) in Germany dipped 0.4%. The CAC 40 (^FCHI) in Paris was also 0.4% lower. The pan-European STOXX 600 (^STOXX) was pulled 0.2% into the red. Top movers in the FTSE 100 AstraZeneca places $50bn bet on US Russ Mould, investment director at AJ Bell, said: Oil prices dip Pedro Goncalves writes: Oil prices declined in early European trading on Tuesday as investors assessed limited near-term disruption to global supply from European sanctions on Russia, while mounting fears of a transatlantic trade dispute also weighed on sentiment. Brent crude futures (BZ=F) slipped 0.6% to trade at $68.81 per barrel, at the time of writing, while West Texas Intermediate futures retreated 0.5% to $66.88 a barrel. Market attention has turned to a possible trade rift between the US and the European Union, amid reports that Washington is seeking to impose tariffs of at least 15% on EU imports. Brussels is said to be preparing retaliatory measures in response. Uncertainty over US trade policy is also casting a shadow over consumer confidence and broader economic prospects for the second half of the year. The International Energy Agency, in its July report, forecast global oil demand to rise by just 700,000 barrels per day in 2025, its slowest pace of growth since 2009. Priyanka Sachdeva, senior market analyst at Phillip Nova, said: "Broad demand concerns continue to simmer amid escalating global trade tensions, especially as markets eye the latest tariff threats between major economies and Trump's potential announcements ahead of [the] 1 August deadline." Analysts at ANZ wrote that the 'trade deal impasse could hurt economic activity and thus crude oil demand', particularly if the US moves forward with steep tariffs on EU goods. Read more on Yahoo Finance UK US stock futures tread water ahead of big tech earnings From our US team: US stock futures traded flat as investors prepared for earnings season to pick up steam, with Big Tech earnings ahead. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) traded flat. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tricked down 0.1%. On Monday, the S&P 500 and Nasdaq cleared fresh records even as the EU prepared for a no-deal scenario with the US ahead of President Trump's Aug. 1 deadline to strike trade agreements. Meanwhile, Wall Street is eagerly waiting for second-quarter earnings results from tech heavyweights Alphabet (GOOGL, GOOG) and Tesla (TSLA) on Wednesday. Capital gains tax windfall remains to be seen Shaun Moore, tax and financial planning expert at Quilter commented on the public sector finances release this morning, noting: 'We're committed to the rules': Darren Jones Darren Jones, chief secretary to the Treasury, said of the public sector finances: UK borrowed more than expected in June Vicky McKeever was up bright and early for public sector finances this morning. She writes: The UK government borrowed more than expected in June as debt interest payments jumped, piling further pressure on chancellor Rachel Reeves. Figures from the Office for National Statistics (ONS) showed that public sector net borrowing reached £20.7bn in June – £3.5bn higher than the £17.1bn forecast by the Office for Budget Responsibility (OBR), and £6.6bn above the same month in 2024. Richard Heys, acting chief economist for the ONS, said: "The rising cost of providing public services and a large rise this month in interest payable on index-linked gilts pushed up the overall spending more than the increases in income from taxes and national insurance (NI) contributions, causing borrowing to rise in June." Central government receipts rose by £5.7bn year-on-year to £86.8bn in June, boosted by a £1bn increase in income tax, £700m more in value added tax (VAT) and £500m in corporation tax receipts. An increase in employer NI contributions contributed to a £3.1bn rise in compulsory social contributions, bringing that total to £17.4bn. Read more on Yahoo Finance UK Good morning! Hello from London. Public sector scruitny is on the agenda today: we've started the day here with public sector finances and rising debt costs for the UK. Later this morning Bank of England governor Andrew Bailey speaks at a select committee in Westminster. This afternoon, chancellor Rachel Reeves will also be centre stage at a committee session. Markets are also gearing up for a big week of tech earnings beginning tomorrow. Let's get to it. Top movers in the FTSE 100 AstraZeneca places $50bn bet on US Russ Mould, investment director at AJ Bell, said: Russ Mould, investment director at AJ Bell, said: Oil prices dip Pedro Goncalves writes: Oil prices declined in early European trading on Tuesday as investors assessed limited near-term disruption to global supply from European sanctions on Russia, while mounting fears of a transatlantic trade dispute also weighed on sentiment. Brent crude futures (BZ=F) slipped 0.6% to trade at $68.81 per barrel, at the time of writing, while West Texas Intermediate futures retreated 0.5% to $66.88 a barrel. Market attention has turned to a possible trade rift between the US and the European Union, amid reports that Washington is seeking to impose tariffs of at least 15% on EU imports. Brussels is said to be preparing retaliatory measures in response. Uncertainty over US trade policy is also casting a shadow over consumer confidence and broader economic prospects for the second half of the year. The International Energy Agency, in its July report, forecast global oil demand to rise by just 700,000 barrels per day in 2025, its slowest pace of growth since 2009. Priyanka Sachdeva, senior market analyst at Phillip Nova, said: "Broad demand concerns continue to simmer amid escalating global trade tensions, especially as markets eye the latest tariff threats between major economies and Trump's potential announcements ahead of [the] 1 August deadline." Analysts at ANZ wrote that the 'trade deal impasse could hurt economic activity and thus crude oil demand', particularly if the US moves forward with steep tariffs on EU goods. Read more on Yahoo Finance UK Pedro Goncalves writes: Oil prices declined in early European trading on Tuesday as investors assessed limited near-term disruption to global supply from European sanctions on Russia, while mounting fears of a transatlantic trade dispute also weighed on sentiment. Brent crude futures (BZ=F) slipped 0.6% to trade at $68.81 per barrel, at the time of writing, while West Texas Intermediate futures retreated 0.5% to $66.88 a barrel. Market attention has turned to a possible trade rift between the US and the European Union, amid reports that Washington is seeking to impose tariffs of at least 15% on EU imports. Brussels is said to be preparing retaliatory measures in response. Uncertainty over US trade policy is also casting a shadow over consumer confidence and broader economic prospects for the second half of the year. The International Energy Agency, in its July report, forecast global oil demand to rise by just 700,000 barrels per day in 2025, its slowest pace of growth since 2009. Priyanka Sachdeva, senior market analyst at Phillip Nova, said: "Broad demand concerns continue to simmer amid escalating global trade tensions, especially as markets eye the latest tariff threats between major economies and Trump's potential announcements ahead of [the] 1 August deadline." Analysts at ANZ wrote that the 'trade deal impasse could hurt economic activity and thus crude oil demand', particularly if the US moves forward with steep tariffs on EU goods. Read more on Yahoo Finance UK US stock futures tread water ahead of big tech earnings From our US team: US stock futures traded flat as investors prepared for earnings season to pick up steam, with Big Tech earnings ahead. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) traded flat. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tricked down 0.1%. On Monday, the S&P 500 and Nasdaq cleared fresh records even as the EU prepared for a no-deal scenario with the US ahead of President Trump's Aug. 1 deadline to strike trade agreements. Meanwhile, Wall Street is eagerly waiting for second-quarter earnings results from tech heavyweights Alphabet (GOOGL, GOOG) and Tesla (TSLA) on Wednesday. From our US team: US stock futures traded flat as investors prepared for earnings season to pick up steam, with Big Tech earnings ahead. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) traded flat. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tricked down 0.1%. On Monday, the S&P 500 and Nasdaq cleared fresh records even as the EU prepared for a no-deal scenario with the US ahead of President Trump's Aug. 1 deadline to strike trade agreements. Meanwhile, Wall Street is eagerly waiting for second-quarter earnings results from tech heavyweights Alphabet (GOOGL, GOOG) and Tesla (TSLA) on Wednesday. Capital gains tax windfall remains to be seen Shaun Moore, tax and financial planning expert at Quilter commented on the public sector finances release this morning, noting: Shaun Moore, tax and financial planning expert at Quilter commented on the public sector finances release this morning, noting: 'We're committed to the rules': Darren Jones Darren Jones, chief secretary to the Treasury, said of the public sector finances: Darren Jones, chief secretary to the Treasury, said of the public sector finances: UK borrowed more than expected in June Vicky McKeever was up bright and early for public sector finances this morning. She writes: The UK government borrowed more than expected in June as debt interest payments jumped, piling further pressure on chancellor Rachel Reeves. Figures from the Office for National Statistics (ONS) showed that public sector net borrowing reached £20.7bn in June – £3.5bn higher than the £17.1bn forecast by the Office for Budget Responsibility (OBR), and £6.6bn above the same month in 2024. Richard Heys, acting chief economist for the ONS, said: "The rising cost of providing public services and a large rise this month in interest payable on index-linked gilts pushed up the overall spending more than the increases in income from taxes and national insurance (NI) contributions, causing borrowing to rise in June." Central government receipts rose by £5.7bn year-on-year to £86.8bn in June, boosted by a £1bn increase in income tax, £700m more in value added tax (VAT) and £500m in corporation tax receipts. An increase in employer NI contributions contributed to a £3.1bn rise in compulsory social contributions, bringing that total to £17.4bn. Read more on Yahoo Finance UK Vicky McKeever was up bright and early for public sector finances this morning. She writes: The UK government borrowed more than expected in June as debt interest payments jumped, piling further pressure on chancellor Rachel Reeves. Figures from the Office for National Statistics (ONS) showed that public sector net borrowing reached £20.7bn in June – £3.5bn higher than the £17.1bn forecast by the Office for Budget Responsibility (OBR), and £6.6bn above the same month in 2024. Richard Heys, acting chief economist for the ONS, said: "The rising cost of providing public services and a large rise this month in interest payable on index-linked gilts pushed up the overall spending more than the increases in income from taxes and national insurance (NI) contributions, causing borrowing to rise in June." Central government receipts rose by £5.7bn year-on-year to £86.8bn in June, boosted by a £1bn increase in income tax, £700m more in value added tax (VAT) and £500m in corporation tax receipts. An increase in employer NI contributions contributed to a £3.1bn rise in compulsory social contributions, bringing that total to £17.4bn. Read more on Yahoo Finance UK Good morning! Hello from London. Public sector scruitny is on the agenda today: we've started the day here with public sector finances and rising debt costs for the UK. Later this morning Bank of England governor Andrew Bailey speaks at a select committee in Westminster. This afternoon, chancellor Rachel Reeves will also be centre stage at a committee session. Markets are also gearing up for a big week of tech earnings beginning tomorrow. Let's get to it. Hello from London. Public sector scruitny is on the agenda today: we've started the day here with public sector finances and rising debt costs for the UK. Later this morning Bank of England governor Andrew Bailey speaks at a select committee in Westminster. This afternoon, chancellor Rachel Reeves will also be centre stage at a committee session. Markets are also gearing up for a big week of tech earnings beginning tomorrow. Let's get to it.
Yahoo
22-07-2025
- Business
- Yahoo
FTSE 100 LIVE: London stocks tread water as UK borrowing jumps above £20bn
The FTSE 100 (^FTSE) hovered and European stocks fell for a second day as traders digest the latest public sector borrowing figures showed government borrowing was higher than expected, with net borrowing reaching £20.7bn in June. This was the second highest borrowing figure since monthly records began in 1993, after that of June 2020 during the COVID-19 pandemic. The figures cast a further shadow on chancellor Rachel Reeves' efforts to put the public purse in order, as government policy continues to come under scrutiny, particularly on welfare benefits and defence spending. London's premier index was flat, with mining stocks such as Rio Tinto (RIO.L) and Glencore (GLEN.L) heading to the top of the index for a second day running. The DAX (^GDAXI) in Germany dipped 0.4%. The CAC 40 (^FCHI) in Paris was also 0.4% lower. The pan-European STOXX 600 (^STOXX) was pulled 0.2% into the red. US stock futures tread water ahead of big tech earnings From our US team: US stock futures traded flat as investors prepared for earnings season to pick up steam, with Big Tech earnings ahead. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) traded flat. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tricked down 0.1%. On Monday, the S&P 500 and Nasdaq cleared fresh records even as the EU prepared for a no-deal scenario with the US ahead of President Trump's Aug. 1 deadline to strike trade agreements. Meanwhile, Wall Street is eagerly waiting for second-quarter earnings results from tech heavyweights Alphabet (GOOGL, GOOG) and Tesla (TSLA) on Wednesday. Capital gains tax windfall remains to be seen Shaun Moore, tax and financial planning expert at Quilter commented on the public sector finances release this morning, noting: 'We're committed to the rules': Darren Jones Darren Jones, chief secretary to the Treasury, said of the public sector finances: UK borrowed more than expected in June Vicky McKeever was up bright and early for public sector finances this morning. She writes: The UK government borrowed more than expected in June as debt interest payments jumped, piling further pressure on chancellor Rachel Reeves. Figures from the Office for National Statistics (ONS) showed that public sector net borrowing reached £20.7bn in June – £3.5bn higher than the £17.1bn forecast by the Office for Budget Responsibility (OBR), and £6.6bn above the same month in 2024. Richard Heys, acting chief economist for the ONS, said: "The rising cost of providing public services and a large rise this month in interest payable on index-linked gilts pushed up the overall spending more than the increases in income from taxes and national insurance (NI) contributions, causing borrowing to rise in June." Central government receipts rose by £5.7bn year-on-year to £86.8bn in June, boosted by a £1bn increase in income tax, £700m more in value added tax (VAT) and £500m in corporation tax receipts. An increase in employer NI contributions contributed to a £3.1bn rise in compulsory social contributions, bringing that total to £17.4bn. Read more on Yahoo Finance UK Good morning! Hello from London. Public sector scruitny is on the agenda today: we've started the day here with public sector finances and rising debt costs for the UK. Later this morning Bank of England governor Andrew Bailey speaks at a select committee in Westminster. This afternoon, chancellor Rachel Reeves will also be centre stage at a committee session. Markets are also gearing up for a big week of tech earnings beginning tomorrow. Let's get to it. US stock futures tread water ahead of big tech earnings From our US team: US stock futures traded flat as investors prepared for earnings season to pick up steam, with Big Tech earnings ahead. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) traded flat. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tricked down 0.1%. On Monday, the S&P 500 and Nasdaq cleared fresh records even as the EU prepared for a no-deal scenario with the US ahead of President Trump's Aug. 1 deadline to strike trade agreements. Meanwhile, Wall Street is eagerly waiting for second-quarter earnings results from tech heavyweights Alphabet (GOOGL, GOOG) and Tesla (TSLA) on Wednesday. From our US team: US stock futures traded flat as investors prepared for earnings season to pick up steam, with Big Tech earnings ahead. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) traded flat. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) tricked down 0.1%. On Monday, the S&P 500 and Nasdaq cleared fresh records even as the EU prepared for a no-deal scenario with the US ahead of President Trump's Aug. 1 deadline to strike trade agreements. Meanwhile, Wall Street is eagerly waiting for second-quarter earnings results from tech heavyweights Alphabet (GOOGL, GOOG) and Tesla (TSLA) on Wednesday. Capital gains tax windfall remains to be seen Shaun Moore, tax and financial planning expert at Quilter commented on the public sector finances release this morning, noting: Shaun Moore, tax and financial planning expert at Quilter commented on the public sector finances release this morning, noting: 'We're committed to the rules': Darren Jones Darren Jones, chief secretary to the Treasury, said of the public sector finances: Darren Jones, chief secretary to the Treasury, said of the public sector finances: UK borrowed more than expected in June Vicky McKeever was up bright and early for public sector finances this morning. She writes: The UK government borrowed more than expected in June as debt interest payments jumped, piling further pressure on chancellor Rachel Reeves. Figures from the Office for National Statistics (ONS) showed that public sector net borrowing reached £20.7bn in June – £3.5bn higher than the £17.1bn forecast by the Office for Budget Responsibility (OBR), and £6.6bn above the same month in 2024. Richard Heys, acting chief economist for the ONS, said: "The rising cost of providing public services and a large rise this month in interest payable on index-linked gilts pushed up the overall spending more than the increases in income from taxes and national insurance (NI) contributions, causing borrowing to rise in June." Central government receipts rose by £5.7bn year-on-year to £86.8bn in June, boosted by a £1bn increase in income tax, £700m more in value added tax (VAT) and £500m in corporation tax receipts. An increase in employer NI contributions contributed to a £3.1bn rise in compulsory social contributions, bringing that total to £17.4bn. Read more on Yahoo Finance UK Vicky McKeever was up bright and early for public sector finances this morning. She writes: The UK government borrowed more than expected in June as debt interest payments jumped, piling further pressure on chancellor Rachel Reeves. Figures from the Office for National Statistics (ONS) showed that public sector net borrowing reached £20.7bn in June – £3.5bn higher than the £17.1bn forecast by the Office for Budget Responsibility (OBR), and £6.6bn above the same month in 2024. Richard Heys, acting chief economist for the ONS, said: "The rising cost of providing public services and a large rise this month in interest payable on index-linked gilts pushed up the overall spending more than the increases in income from taxes and national insurance (NI) contributions, causing borrowing to rise in June." Central government receipts rose by £5.7bn year-on-year to £86.8bn in June, boosted by a £1bn increase in income tax, £700m more in value added tax (VAT) and £500m in corporation tax receipts. An increase in employer NI contributions contributed to a £3.1bn rise in compulsory social contributions, bringing that total to £17.4bn. Read more on Yahoo Finance UK Good morning! Hello from London. Public sector scruitny is on the agenda today: we've started the day here with public sector finances and rising debt costs for the UK. Later this morning Bank of England governor Andrew Bailey speaks at a select committee in Westminster. This afternoon, chancellor Rachel Reeves will also be centre stage at a committee session. Markets are also gearing up for a big week of tech earnings beginning tomorrow. Let's get to it. Hello from London. Public sector scruitny is on the agenda today: we've started the day here with public sector finances and rising debt costs for the UK. Later this morning Bank of England governor Andrew Bailey speaks at a select committee in Westminster. This afternoon, chancellor Rachel Reeves will also be centre stage at a committee session. Markets are also gearing up for a big week of tech earnings beginning tomorrow. Let's get to it. Sign in to access your portfolio
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10-07-2025
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FTSE 100 LIVE: UK and German stock markets hit record highs as traders shrug off Trump's trade war
The FTSE 100 (^FTSE) hit a new all-time high on Thursday morning, while European stocks also advanced. The German Dax (^GDAXI) also touched a record, as traders shrugged off the threat of Donald Trump's escalating trade wars. The US president confirmed overnight that a 50% copper tariff will come into place on 1 August, and announced a 50% tariff on goods from Brazil. He accused Brazil of "attacks" on US tech companies and of conducting a "witch hunt" against former far-right president Jair Bolsonaro, who is facing prosecution over his alleged role in a plot to overturn the 2022 election. The Brazilian Real weakened by 2.29% against the US dollar on the back of the news, its biggest decline since 4 April, but mining stocks rallied in London, signalling that investors are not concerned about the new tariffs. Chris Beauchamp, chief market analyst at IG, said investors are in an 'ebullient summer mood'. He said: "Perhaps most notable is the market's apparent indifference to escalating trade tensions. Trump's 50% tariff on copper imports and threats toward Brazil triggered little reaction. Many now view such announcements as political posturing, summed up by TACO: Trump Always Chickens Out." Trump has so far posted 22 letters to countries around the world this week, including Japan, South Korea and Sri Lanka. London's benchmark index (^FTSE) was 0.9% higher in early trade. Germany's DAX (^GDAXI) rose 0.3% and the CAC (^FCHI) in Paris headed 0.6% into the green. The pan-European STOXX 600 (^STOXX) was up 0.5%. However, Wall Street is set for a negative start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the red. The pound was 0.13% higher against the US dollar (GBPUSD=X) at 1.3605. Follow along for live updates throughout the day: The FTSE 100 (^FTSE) hit a new all-time high on Thursday morning, with the German DAX (^GDAXI), also touching fresh record levels, as traders shrugged off the threat of Donald Trump's escalating trade war. The US president confirmed overnight that the 50% copper tariff will come into place on 1 August, and announced a 50% tariff on goods from Brazil. He accused Brazil of "attacks" on US tech companies and of conducting a "witch hunt" against former far-right president Jair Bolsonaro, who is facing prosecution over his alleged role in a plot to overturn the 2022 election. The Brazilian Real weakened by 2.29% against the US dollar on the back of the news, its biggest decline since 4 April, but mining stocks are rallying in London, signalling that investors are not concerned about the new tariffs. Chris Beauchamp, chief market analyst at IG, said investors are in an 'ebullient summer mood'. He said: Trump has so far posted 22 letters to countries around the world this week, including Japan, South Korea and Sri Lanka. Stocks in Asia were mostly highly overnight but the Nikkei (^N225) down 0.4% on the day in Japan, as a 20-year government bond auction saw a bid-to-cover ratio of 3.15, which was beneath the 12-month average of 3.29. Meanwhile, the Hang Seng (^HSI) rose 0.8% in Hong Kong and the Shanghai Composite ( was 0.5% up by the end of the session. In South Korea, the Kospi (^KS11) added 1.6% on the day, which came after the Bank of Korea kept interest rates at 2.5% as expected. Governor Rhee said that four board members were open to a cut in the next three months. Across the pond on Wall Street, the S&P 500 (^GSPC) rose 0.6%, following some intraday volatility, and the tech-heavy Nasdaq (^IXIC) was 0.9% higher. The Dow Jones (^DJI) also gained 0.5%. Gains were led by the Magnificent 7, which rose 1.23%, and Nvidia (NVDA) (up 1.80%) in particular, which briefly became the first company to surpass a $4tn market cap on an intraday basis. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases include the US weekly initial jobless claims, and Italian industrial production for May. Central bank speakers include the Fed's Musalem and Daly, the ECB's Cipollone, Escriva and Villeroy, and BoE Deputy Governor Breeden. Finally, there's a 30yr Treasury auction taking place. Here's a snapshot of what's on the agenda: 12:01pm: RICS Housing Market Survey 7am: Trading update: Vistry Group, Trifast, Seven Trent 8am: BST: ECB board member Piero Cipollone lecture on the digital euro 1.30pm: US weekly jobless claimsThe FTSE 100 (^FTSE) hit a new all-time high on Thursday morning, with the German DAX (^GDAXI), also touching fresh record levels, as traders shrugged off the threat of Donald Trump's escalating trade war. The US president confirmed overnight that the 50% copper tariff will come into place on 1 August, and announced a 50% tariff on goods from Brazil. He accused Brazil of "attacks" on US tech companies and of conducting a "witch hunt" against former far-right president Jair Bolsonaro, who is facing prosecution over his alleged role in a plot to overturn the 2022 election. The Brazilian Real weakened by 2.29% against the US dollar on the back of the news, its biggest decline since 4 April, but mining stocks are rallying in London, signalling that investors are not concerned about the new tariffs. Chris Beauchamp, chief market analyst at IG, said investors are in an 'ebullient summer mood'. He said: Trump has so far posted 22 letters to countries around the world this week, including Japan, South Korea and Sri Lanka. Stocks in Asia were mostly highly overnight but the Nikkei (^N225) down 0.4% on the day in Japan, as a 20-year government bond auction saw a bid-to-cover ratio of 3.15, which was beneath the 12-month average of 3.29. Meanwhile, the Hang Seng (^HSI) rose 0.8% in Hong Kong and the Shanghai Composite ( was 0.5% up by the end of the session. In South Korea, the Kospi (^KS11) added 1.6% on the day, which came after the Bank of Korea kept interest rates at 2.5% as expected. Governor Rhee said that four board members were open to a cut in the next three months. Across the pond on Wall Street, the S&P 500 (^GSPC) rose 0.6%, following some intraday volatility, and the tech-heavy Nasdaq (^IXIC) was 0.9% higher. The Dow Jones (^DJI) also gained 0.5%. Gains were led by the Magnificent 7, which rose 1.23%, and Nvidia (NVDA) (up 1.80%) in particular, which briefly became the first company to surpass a $4tn market cap on an intraday basis. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases include the US weekly initial jobless claims, and Italian industrial production for May. Central bank speakers include the Fed's Musalem and Daly, the ECB's Cipollone, Escriva and Villeroy, and BoE Deputy Governor Breeden. Finally, there's a 30yr Treasury auction taking place. Here's a snapshot of what's on the agenda: 12:01pm: RICS Housing Market Survey 7am: Trading update: Vistry Group, Trifast, Seven Trent 8am: BST: ECB board member Piero Cipollone lecture on the digital euro 1.30pm: US weekly jobless claims
