Latest news with #FTMC
Reuters
3 days ago
- Business
- Reuters
London shares edge lower as mining, bank stocks weigh
June 3 (Reuters) - Britain's main indexes fell on Tuesday, pressured by mining and financial stocks, with investors growing cautious over unpredictable U.S. trade policies, dampening market sentiment. As of 0946 GMT, the blue-chip FTSE 100 (.FTSE), opens new tab was down 0.14%, and the midcap FTSE 250 (.FTMC), opens new tab fell 0.1%. The Organisation for Economic Cooperation and Development (OECD) trimmed its global growth outlook and said the trade war was taking a bigger toll on the U.S. economy than before. The Paris-based organization also urged Britain's government to make stronger efforts to reduce borrowing and debt, just days before Finance Minister Rachel Reeves presents her long-term spending plans. Investors were already unsettled by U.S. President Donald Trump's Friday announcement to increase tariffs on imported steel and aluminum from 25% to 50%. Industrial metal miners (.FTNMX551020), opens new tab bore the brunt of the trade jitters, falling 2.5%, as London copper prices lost ground on concerns of possible U.S. tariffs on the metal. Losses in financial stocks also weighed on both the indexes, with an index tracking the UK banks (.FTNMX301010), opens new tab dropping 1.4%. On the flip side, the aerospace and defence sub-index (.FTNMX502010), opens new tab continued to gain for the second consecutive day after Prime Minister Keir Starmer announced on Monday 15 billion pounds ($20.3 billion) in spending to bring Britain up to "war-fighting readiness". Chemring Group (CHG.L), opens new tab jumped 6.5% to the top of the midcap index after the defence contractor posted the highest-ever order book for the six months ended April 30. The stock hit a near four-year high. Elsewhere, euro zone inflation eased below the European Central Bank's target last month, underpinning expectations for another interest rate cut this week.
Reuters
4 days ago
- Business
- Reuters
UK's FTSE 100 dips after Trump's fresh tariff threats
June 2 (Reuters) - The FTSE 100 edged lower on Monday as market pessimism resurfaced due to fresh strains in global trade relations, following U.S. President Donald Trump's pledge to double steel and aluminium import tariffs. As of 0954 GMT, the blue-chip FTSE 100 (.FTSE), opens new tab was down 0.1%, while the domestically focussed FTSE 250 (.FTMC), opens new tab fell 0.03%. Trump announced on late Friday his plans to increase tariffs on imported steel and aluminium to 50% from 25%, prompting the European Union to warn of potential retaliation. U.S.-China negotiations also appeared strained after Trump accused Beijing of violating a bilateral tariff reduction agreement. China dismissed these claims as "groundless" on Monday, vowing to take forceful measures to protect its interests. The industrial sub-index (.FTNMX502050), opens new tab shed 0.5%. Luxury goods makers Burberry Group (BRBY.L), opens new tab and Watches of Switzerland Group (WOSG.L), opens new tab dropped 1% and 2%, respectively. On the flip side, the aerospace and defence (.FTNMX502010), opens new tab sub-index gained 1% after the British government announced a 1.5 billion-pound ($2.0 billion) plan to build at least six new weapons and explosives factories. The sub-index has surged 53.3% so far in 2025. Countries across Europe and the UK are rapidly trying to boost their defence industries after Trump said the continent had to take more responsibility for its own security. The energy sub-index (.FTNMX601010), opens new tab was up 1.2% tracking higher oil prices as producer group OPEC+ stuck to the same output hike in July as it was for June, which came as a relief to those who expected a bigger increase. Asset manager Aberdeen Group (ABDN.L), opens new tab climbed 2% after Goldman Sachs upgraded the stock's rating to 'buy' from 'neutral'. On the economic front, British manufacturing's downturn was less severe than initially feared in May, though output, orders and jobs still declined, according to Monday's S&P Global UK manufacturing PMI data. Meanwhile, house prices in May were 3.5% higher than a year earlier, monthly data from mortgage lender Nationwide showed on Monday.
Reuters
27-05-2025
- Business
- Reuters
FTSE 100 climbs to 3-week high on EU tariff reprieve
May 27 (Reuters) - London stocks climbed on Tuesday in broad-based gains, in their first reaction to U.S. President Donald Trump's decision to postpone steep tariffs on the European Union. By 1009 GMT, the blue-chip FTSE 100 (.FTSE), opens new tab was up 0.9% to its highest level since May 5. The mid-cap FTSE 250 (.FTMC), opens new tab gained 1.2%. The market was closed on Monday for a bank holiday. The market dropped on Friday when Trump said he was recommending a 50% tariff on goods from the European Union, effective June 1. He backed away, opens new tab from the threat on Sunday and restored a July 9 deadline for trade negotiations. On the day, aerospace and defense stocks (.FTNMX502010), opens new tab led the gains after Trump threatened additional sanctions on Russia. Melrose Industries (MRON.L), opens new tab and BAE Systems (BAES.L), opens new tab both rose more than 3%, ranking among the FTSE 100's top performers. Specialty chemicals firm Elementis (ELM.L), opens new tab advanced 11.2% after agreeing to sell its talc business, opens new tab to IMI Fabi in a deal worth $121 million in enterprise value. Jupiter Fund Management (JUP.L), opens new tab jumped 9.5% after Peel Hunt upgraded the money manager's stock to 'add' from 'hold'. Luxury brand Burberry (BRBY.L), opens new tab gained 3% after Barclays upgraded the stock to 'equal-weight' from 'underweight'. Precious metal miners (.FTNMX551030), opens new tab were the only group to decline, falling 3.7% in tandem with gold prices. Investors are now focused on chip-giant Nvidia's results due Wednesday, alongside speeches from Federal Reserve policymakers and Friday's U.S. core PCE data, which could provide insights into the path of U.S. interest rates.
Reuters
15-05-2025
- Business
- Reuters
UK's FTSE 100 flat as investors weigh mixed earnings, economic data
May 15 (Reuters) - Britain's FTSE 100 was largely unchanged on Thursday as investors weighed mixed corporate earnings and fresh UK GDP data, while markets awaited upcoming remarks from U.S. Federal Reserve Chair Jerome Powell due later in the day. The blue-chip FTSE 100 (.FTSE), opens new tab rose 0.05% by 1010 GMT, while the domestically focused midcap index (.FTMC), opens new tab declined by 0.14%. The energy index (.FTNMX601010), opens new tab fell by 2.9% as oil prices dropped 3% on expectations of a U.S.-Iran nuclear deal that could lead to sanctions easing on the middle eastern country. Among individual stocks, Sage (SGE.L), opens new tab was the biggest drag on the blue-chip index as the software firm reported that while small business customers have cash, they remain reluctant to spend due to U.S. tariff uncertainties. Despite this, Sage maintained its full-year growth forecast, although its shares plunged 6%. In contrast, National Grid (NG.L), opens new tab shares climbed 3.3% after the renewable energy firm exceeded annual profit estimates. Sports retailer JD Sports (JD.L), opens new tab gained 3.2% after reports of American retailer Dick's Sporting Goods (DKS.N), opens new tab nearing a deal to buy rival Footlocker (FL.N), opens new tab. On the economic data front, Britain's economy grew more strongly than expected in first quarter of 2025, providing a boost to the government and finance minister Rachel Reeves, who faces challenges ahead due to her tax hike on businesses and the impact of U.S. President Donald Trump's trade wars. "UK businesses and consumers alike appear remarkably resilient" said Matthew Ryan, head of market strategy at global financial services firm Ebury. "Yet, with neither the tax hikes nor the tariffs coming into force until April, these risks are yet to be truly reflected in the data, and we think that a slowdown in activity appears almost inevitable in the second quarter". Last week, the Bank of England's surprisingly hawkish stance slashed June rate cut expectations, with markets now anticipating quarterly rather than consecutive cuts. Later in the day, investors will be closely monitoring U.S. Fed Chair Jerome Powell's remarks for insights into the monetary policy outlook for the world's largest economy.
Reuters
01-05-2025
- Business
- Reuters
UK's FTSE 100 flat as investors assess mixed earnings, global trade developments
May 1 (Reuters) - Britain's benchmark stock index was flat on Thursday as investors weighed a mixed bag of corporate earnings, a U.S.-Ukraine minerals deal, and hopes of a U.S. trade accord with China. As of 0955 GMT, the blue-chip FTSE 100 index (.FTSE), opens new tab was up 0.03%, while the midcap index (.FTMC), opens new tab advanced 0.6% and was heading for its seventh straight session of gains. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Rolls-Royce (RR.L), opens new tab gained 2.7% and was among the top performers on the blue-chip index after the engineering company said it expected to be able to offset the impact of global tariffs to keep it on track for 2025 profit targets. The aerospace and defence index (.FTNMX502010), opens new tab rose 1.4%, boosted by Rolls-Royce results. On the flip side, energy companies' stocks led declines across the FTSE 100 and midcap indexes as oil prices fell for a second straight day after data on Wednesday showed a contraction in the U.S. economy. The energy index (.FTNMX601010), opens new tab shed 1.6%. Lloyds Banking Group (LLOY.L), opens new tab dropped 2.7% after reporting a near 7% drop in first-quarter profit, hurt by higher costs and impairment charges. Across the Atlantic, Wall Street futures jumped on Thursday as shares of Microsoft and Meta Platforms surged after strong quarterly results pointed to a still-strong outlook for the technology sector. Meanwhile, Ukraine and the U.S. signed a deal on Wednesday that will give the U.S. preferential access to new Ukrainian minerals deals and fund investment in the country's reconstruction. Separately, a social media account affiliated with Chinese state media said on Tuesday that the U.S. has approached China seeking talks over Trump's 145% tariffs. Back home, British factory exports shrank at their sharpest pace in almost five years and cost pressures intensified in April, according to a survey that showed the impact of Trump's trade war and a UK tax hike for employers. Among other earnings-related moves, Informa (INF.L), opens new tab advanced 3% as the events and academic publishing group reaffirmed 2025 outlook.
