UK Stocks Turning In Mixed Performance; FTSE 100 Modestly Higher

RTTNews | 583 hari yang lalu

(RTTNews) - U.K. stocks are modestly higher Monday morning, led by gains in defense shares amid expectations of increased government spending for the sector.

Weakness in the energy space limit market's upside.

The benchmark FTSE 100 was up 25.00 points or 0.3% at 8,684.37 a little while ago.

Centrica is gaining nearly 5% and BAE Systems is up 3%. GSK is gaining nearly 2% after initiating a £2bn share buyback program.

Vodafone Group, Land Securities, SSE, Imperial Brands, United Utilites and British American Tobacco are up 1.5 to 2%.

National Grid is up 1.5% after the company announced that it has agreed to sell its National Grid Renewables U.S. onshore renewables business to Brookfield Asset Management.

Melrose Industries, Auto Trader Group, Smith & Nephew, Haleon, Persimmon, Vistry Group, Barratt Redrow, Taylor Wimpey, Beazley and AstraZeneca are up 1 to 1.4%.

B&M European Value Retail is plunging nearly 9% after the company lowered its earnings guidance for fiscal year 2025. The company now expects group adjusted EBITDA, pre-IFRS 16, to be in the range of 605 million pounds to 625 million pounds compared to the prior estimation of 620 million pounds to 650 million pound.

The company has also announced that Alex Russo will retire as Group Chief Executive and a Director of the Company with effect from 30 April 2025, and added that its is in the advanced stages of a recruitment process to appoint a new Chief Executive Officer with the support of a leading executive search firm.

Antofagasta is down 2.7% and Flutter Entertainment is down 2.3%. Anglo American Plc, Entain, InterContinental, Pershing Square Holdings, Standard Chartered, Fresnillo, Intermediate Capital, Scottish Mortgage, Natwest Group and Rio Tinto are declining 1 to 2%.

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European Markets Seen Rising On Wednesday

A strong positive sentiment is expected to prevail in European stock markets on Wednesday amidst a sharp decline in Fed rate hike expectations. The decline in crude oil prices, the easing in bond yields and the dollar's retreat are also expected to bolster sentiment. Anxiety ahead of the release of PCE-based inflation readings from the U.S. on Wednesday morning is however expected to limit gains.

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Australian Dollar Falls Against Majors

The Australian dollar weakened against other major currencies in the Asian session on Wednesday.

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Australia Inflation Rises In August

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China Private Sector Growth Improves

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Australian Market Sharply Extends Early Gains In Mid-market

The Australian market is sharply extending its early gains in mid-market moves on Wednesday after opening in the red, adding to the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving up to near the 8,800 level, despite the negative cues from Wall Street overnight, with gains in gold miners and energy stocks partially offset by weakness in iron ore miner and financial stocks.

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Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Wednesday, despite the broadly negative cues from Wall Street overnight, as tumbling crude oil prices on easing supply concerns as Saudi Arabia restored half of the capacity of its East-West pipeline, allaying fears of global inflation and aggressive interest rate hikes. Asian markets closed mixed on Tuesday.

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Indian Shares Likely To Open On Mixed Note

Lower GIFT Nifty and fairly steady Asian markets point to a somewhat mixed start for Indian shares Wednesday morning. Elevated crude oil prices and elusive U.S.-Iran deal to reopen the Strait of Hormuz are likely to weigh on sentiment.

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Soft Start Seen For Thai Stock Market

The Thai stock market has finished lower in back-to-back sessions, slipping more than a dozen points or 0.7 percent along the way. The Stock Exchange of Thailand now sits just above the 1,590-point plateau and it's expected to see continued consolidation on Wednesday.

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