FTSE 100 gains as Lloyds reports stronger profits and Magnum raises its sales outlook. European stocks advance while Brent crude and gold decline.
Market Overview
The FTSE 100 opened at 10,694.02 before advancing 0.54 per cent to 10,752.02, as investors assessed the UK Budget and the Federal Reserve’s decision to hold interest rates. European markets also gained, with the Euronext 100 rising 0.25 per cent to 1,882.91 and Germany’s DAX advancing 0.38 per cent to 25,802.14 ahead of the European Central Bank’s policy announcement. Wall Street closed higher, with the Nasdaq reaching 26,549.85 and the S&P 500 finishing at 7,743.98, as investors awaited US inflation data.
Commodity markets were mixed, with copper and gold declining, while Brent crude edged lower as renewed hopes for Middle East peace negotiations offset concerns about regional supply disruptions. Natural gas also weakened. Sterling strengthened against the US dollar, Swiss franc and Japanese yen but lost ground against the euro and Australian dollar. Bitcoin declined against sterling. Investors continued to assess the implications of the UK Budget, central bank policy decisions and geopolitical developments for inflation and economic growth.
Market Numbers
FTSE 100: Up (+0.54%), 10,694.02
Euronext 100: Up (+0.25%), 1,882.91
DAX: Up (+0.38%), 25,802.14
NASDAQ: Up, 26,549.85
S&P 500: Up, 7,743.98
In the Headlines
Profit Growth – Lloyds Banking Group (LSE:LLOY)
Lloyds Banking Group reported a 42 per cent increase in nine-month statutory pretax profit to £6.63 billion, supported by higher interest income, lending growth and lower remediation charges. The bank maintained its full-year 2026 guidance, providing investors with reassurance about its earnings outlook.
Sales Growth – Magnum Ice Cream Company (LSE:MICC)
The Magnum Ice Cream Company reported 9.6 per cent organic sales growth in the third quarter, supported by stronger volumes, product innovation and market share gains. The ice cream producer raised its full-year organic sales growth outlook to approximately 5.5 per cent, reflecting improved trading momentum.
Currencies (vs GBP)
USD: Down (-0.08%), $1.3316
CHF: Down (-0.09%), Fr.1.1025
EUR: Up (+0.05%), €1.1952
JPY: Down (-0.06%), ¥210.242
AUD: Up (+0.16%), $1.8914
Bitcoin (BTC/GBP): Down (-1.58%), £60,028.90
Commodities
Copper: Down
Gold: Down
Brent Crude: Down
Natural Gas: Down
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