European equities were on the up, though the FTSE 100 surrendered some of its morning progress after the Bank of England left rates unmoved, despite the US Federal Reserve's bumper 50 basis point cut on Wednesday. The BoE said it will adopt a 'gradual approach' to easing monetary policy. 'Monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflat...

Clothing and homewares retailer Next (NXT) has raised its year-to-January-2025 profit guidance for the second time in two months. In fact, the high street stalwart is now on the verge of joining the £1 billion pre-tax profit club, quite an achievement considering the difficult backdrop for retailers in the UK. Shares in the Simon Wolfson-steered retailer rose 2.4% to £106 in early dealings as...

After a string of disappointing clinical trial results which have weighed on AstraZeneca's (AZN) shares in the last month, the pharmaceutical firm said it has received US regulatory approval for Fasenra, its treatment for a rare disease which causes inflammation of the blood vessels. Investors welcomed the news, sending the shares up 126p or just over 1% to £119.82, taking year to date gains t...

Shares in Ocado (OCDO) were up more than 7% to 375p in morning trading as the company raised 2024 revenue guidance for its Ocado Retail joint venture with Marks & Spencer (MKS) to low double-digit growth following a strong performance in the first three quarters of the year. The announcement came as the company reported a trading update for the 13 weeks to 1 September. The company also said it...

London's FTSE 100 prospered in early trading on Thursday after the US central bank cut rates by a hefty 50 basis points. The FTSE 100 index added 56.60 points, 0.7%, at 8,310.28. The FTSE 250 added 168.08 points, 0.8%, at 21,003.39, and the AIM All-Share rose 2.30 points, 0.3%, at 744.86. The Cboe UK 100 rose 0.7% to 832.14, the Cboe UK 250 added 0.8% to 18,528.62, and the Cboe Small Companies...

Stocks ended lower in London on Wednesday, as uncertainty around the outcome of the US Federal Reserve's interest rate decision put investors on the back foot. 'This is one of the most uncertain Fed outcomes in recent memory; Chair Powell's post-decision press conference could generate plenty of fireworks,' said analysts at Brown Brothers Harriman. The FTSE 100 index fell 56.18 points, or 0.7%,...

Stocks in London were in the red at midday on Wednesday, awaiting clarity from the US Federal Reserve over the pace of interest rate cuts. According to CME FedWatch, a 50 basis point cut is the most likely move by the US central bank, though some believe a 25 basis point reduction is in the offing. Elsewhere, the pound perked up, taking advantage of some dollar weakness after a UK inflation rea...

Shares in LBG Media (LBG:AIM) were up nearly 3% at 139.5p in morning trading as the LADBible publisher reporting a strong set of first-half results. Total group revenue rose 55% to £42.3 million for the six months ending 30 June 2024 compared to £27.2 million last year. The multi-channel digital publisher said revenue momentum was strong with organic growth of 29% and a record audience of 494...

Consumer goods group PZ Cussons (PZC) insisted the 'favourable trends' seen in last year's second half have continued into its new financial year as the FTSE 250 firm assured investors it is on track with plans to refocus its portfolio following a strategic review. Unfortunately, shares in the Manchester-based maker of Morning Fresh, Carex and Imperial Leather cheapened 7% to 96p as last year's...

The popular City of London (CTY) investment trust delivered another year of outperformance and dividend growth, marking 58 consecutive years of increases, the longest record in the AIC's (Association of Investment Companies) list of Dividend Heroes. The shares traded down 1.65p or 0.37% to 439.9p, but are within touching distance of the all-time high of 450p reached just before the pandemic in...

Consumer and household goods group Reckitt Benckiser (RKT) is pushing ahead with the sale of its homecare brands according to press reports. The news was applauded by shareholders, with the shares gaining as much as 150p or 3% to a three-month high of £47.60 in early trading. SIX BILLION POUND DEAL The FTSE 100 firm, whose shares have been in the doldrums since March, has begun early talks wit...

London's FTSE 100 opened in the red on Wednesday as investors assessed UK inflation data and looked ahead to a finely-balanced US interest rate call. According to CME FedWatch, there is a 63% chance the US central bank cuts by 50 basis points. There is a 37% likelihood it reduces the federal funds rate by 37%. However, sell-side consensus is backing a 25bp cut. 'Speculation about a more aggress...