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Category: Market Summary

  • FTSE 100 Opens Slightly Lower Near Record Levels; Earnings From LSEG and Rolls-Royce in Spotlight

    FTSE 100 Opens Slightly Lower Near Record Levels; Earnings From LSEG and Rolls-Royce in Spotlight

    UK equities slipped modestly at Thursday’s open but remained close to record territory as investors digested a fresh wave of corporate earnings, including updates from Rolls-Royce and London Stock Exchange Group. Sterling weakened against the US dollar while continuing to trade above the $1.35 level.

    At 0813 GMT, the benchmark FTSE 100 index was down 0.08%. The pound fell 0.2% to $1.3533 versus the dollar. Across Europe, Germany’s DAX declined 0.2%, while France’s CAC 40 advanced 0.3%.

    Globally, markets also reacted to results from NVIDIA Corporation (NASDAQ:NVDA), which beat revenue forecasts and issued an upbeat outlook but failed to spark investor enthusiasm. Attention additionally turned to geopolitical developments as the United States and Iran entered talks, while artificial intelligence remained a key theme, with investors weighing returns on heavy AI-related capital spending and potential disruption risks, according to Jefferies.

    UK Market Round-Up

    Rolls-Royce (LSE:RR.) reported a 40% rise in annual profit following strong aero-engine performance, alongside upgraded medium-term targets and enhanced shareholder return plans.

    Underlying operating profit reached £3.46 billion in 2025, producing a margin of 17.3% and exceeding the £3.27 billion consensus estimate. Free cash flow totalled £3.3 billion, supported by strong operating execution and expanding long-term service agreement balances, leaving the group with net cash of £1.9 billion at year-end. For 2026, Rolls-Royce expects underlying operating profit of £4.0 billion to £4.2 billion and free cash flow of £3.6 billion to £3.8 billion.

    London Stock Exchange Group (LSE:LSEG) posted a 56.5% increase in pretax profit for 2025 and announced an additional £3 billion share buyback programme. Pretax profit rose to £1.97 billion from £1.26 billion a year earlier, while total income excluding recoveries grew 5.8% to £8.99 billion, or 7.1% on an organic constant-currency basis. Reported earnings per share climbed 85.1% to 238.4 pence, with adjusted EPS up 15.7% to 420.6 pence.

    WPP (LSE:WPP) unveiled a multi-year restructuring strategy named Elevate28, aimed at simplifying operations and restoring organic growth. The advertising group plans to transition from a holding company structure into a unified operating model organised around four divisions: WPP Media, WPP Creative, WPP Production and WPP Enterprise Solutions, operating across North America, Latin America, EMEA and APAC.

    Hikma Pharmaceuticals plc (LSE:HIK) issued 2026 guidance below market expectations, forecasting sales growth of 2% to 4% compared with consensus estimates of 5.5%. Core EBIT is projected between $720 million and $770 million, below the $778 million consensus estimate, while injectables margins are expected to remain below market forecasts.

    Ocado Group (LSE:OCDO) reported stronger-than-expected second-half 2025 performance and said it anticipates achieving positive free cash flow in the second half of 2026, with full-year 2027 also expected to turn cash-flow positive. Group revenue beat expectations by 4.5%, while EBITDA exceeded consensus by 4.2%.

    CVS Group (LSE:CVSG) delivered first-half 2026 revenue growth of 5.8%, broadly matching forecasts as sales reached £356.9 million. Like-for-like growth improved to around 2.7%, reflecting a recovery from negative growth recorded a year earlier. UK operations generated £320.6 million in revenue, with Australia contributing £36.3 million.

    Derwent London (LSE:DLN) reported a net asset value of 3,225 pence per share for FY25, up 2.4%, alongside earnings per share of 98.4 pence and a dividend of 81.5 pence per share. Leasing activity totalled £11.3 million during the year at rents nearly 10% above estimated rental value.

    Howden Joinery Group (LSE:HWDN) exceeded profit expectations for FY25 and announced a £100 million share buyback. Pre-tax profit reached £344.9 million, beating consensus estimates of roughly £331 million.

    Greencoat UK Wind (LSE:UKW) reported net asset value per share of 133.5 pence at the end of 2025, equating to a total return of -4.9% for the year. Shares trade at a nearly 30% discount to NAV, prompting a continuation vote at the upcoming AGM.

    Man Group (LSE:EMG) recorded record organic growth, with assets under management rising 35% year-on-year to $227.6 billion, supported by $28.7 billion in net inflows and strong investment performance. The firm achieved its sixth consecutive year of market share gains.

    Drax Group (LSE:DRX) reported record renewable electricity generation for 2025, producing 6% of UK power and 11% of UK renewable output. Adjusted EBITDA declined to £947 million due to lower power prices, while operating profit dropped following £378 million in non-cash impairments. The company extended its share buyback programme with a new £450 million plan.

    Tate & Lyle (LSE:TATE) said third-quarter trading was in line with expectations, with revenue for the three months to December 31 rising 15% on a reported basis following the integration of CP Kelco.

  • Ocado Releases 2025 Preliminary Results and Sets Investor Presentation Date

    Ocado Releases 2025 Preliminary Results and Sets Investor Presentation Date

    Ocado Group (LSE:OCDO) has published its preliminary results for the financial year ended 30 November 2025, with the full annual report now accessible through the London Stock Exchange and the company’s corporate website.

    The online grocery and technology group confirmed that the unedited results have also been filed with the Financial Conduct Authority’s National Storage Mechanism, providing formal regulatory access for investors and market participants.

    In conjunction with the results release, Ocado announced it will host an investor and analyst presentation on 26 February 2026, including a live webcast and question-and-answer session. The event is intended to offer additional insight into the company’s annual performance, operational progress and forward outlook, reflecting its ongoing focus on maintaining transparency and engagement with shareholders.

    The company’s outlook continues to be shaped by challenging financial performance, including declining revenues and ongoing losses. Technical indicators suggest a weaker share price trend, further weighing on sentiment, while limited valuation visibility adds uncertainty around pricing levels. Although management highlighted positive elements such as revenue improvements in certain areas and strong liquidity during earnings discussions, these factors have yet to fully offset broader financial and technical pressures.

    More about Ocado Group

    Ocado Group is a UK-based online grocery technology and logistics company specialising in automated fulfilment systems and e-commerce solutions for food retailers. Its operations combine its own online grocery retail activities with the international licensing of the proprietary Ocado Smart Platform, which enables partners to operate automated warehouses and digital grocery services in global markets.

  • Tech Shares Seen Powering Further Gains on Wall Street: Dow Jones, S&P, Nasdaq, Futures

    Tech Shares Seen Powering Further Gains on Wall Street: Dow Jones, S&P, Nasdaq, Futures

    U.S. stock index futures pointed to a higher open on Wednesday, suggesting equities may build on the strong rebound recorded in the previous trading session.

    Momentum is expected to remain concentrated in technology stocks, as investors position ahead of earnings from artificial intelligence chip leader Nvidia (NASDAQ:NVDA).

    Nvidia, scheduled to publish its fourth-quarter results after the market close, was up 0.8% in premarket trading.

    Software companies Salesforce (NYSE:CRM) and Snowflake (NYSE:SNOW) are also due to release quarterly results later in the day, keeping market attention firmly on the tech sector.

    Oracle (NYSE:ORCL) may add further support after Oppenheimer upgraded the stock to Outperform from Perform, helping lift shares by 2.4% in premarket activity.

    Trading volumes could remain relatively light, however, as the absence of major U.S. economic releases may prompt some investors to stay cautious.

    Following Monday’s selloff, equities rebounded strongly on Tuesday, with all three major benchmarks posting notable gains led by technology stocks.

    The Nasdaq advanced 236.41 points, or 1.0%, to close at 22,863.68. The Dow Jones Industrial Average gained 370.44 points, or 0.8%, ending at 49,174.50, while the S&P 500 rose 52.32 points, or 0.8%, to 6,890.07.

    Part of the rally appeared driven by bargain hunting, as traders stepped in to buy stocks after the sharp decline earlier in the week.

    On Monday, the Dow had fallen to its lowest closing level in a month amid renewed uncertainty surrounding President Donald Trump’s tariff policies.

    Semiconductor shares led Tuesday’s recovery, with the Philadelphia Semiconductor Index climbing 1.5% to a record closing high.

    Advanced Micro Devices (NASDAQ:AMD) stood out with an 8.8% surge after announcing a 6-gigawatt agreement to power Meta’s (NASDAQ:META) next generation of artificial intelligence infrastructure using multiple generations of AMD Instinct GPUs.

    Networking stocks also showed strength, reflected by a 1.5% rise in the NYSE Arca Networking Index.

    Oil services, gold miners, airlines and software stocks also posted solid gains, joining most major sectors in moving higher.

    On the economic front, data from the Conference Board showed U.S. consumer confidence improved in February.

    The organization reported its consumer confidence index rose to 91.2 from a revised 89.0 in January. Economists had expected a reading of 88.0 compared with the originally reported 84.5.

    “Confidence ticked up in February after falling in January, as consumers’ pessimistic expectations for the future eased somewhat,” said Dana M Peterson, Chief Economist at The Conference Board.

    “Four of five components of the Index firmed,” she added. “Nonetheless, the measure remained well below the four-year peak achieved in November 2024 (112.8).”

  • European Markets Higher as AI Concerns Fade; HSBC and Nordex Lead Gains: DAX, CAC, FTSE100

    European Markets Higher as AI Concerns Fade; HSBC and Nordex Lead Gains: DAX, CAC, FTSE100

    European equities traded mostly higher on Wednesday after artificial intelligence concerns eased following new partnership announcements from AI startup Anthropic.

    The company introduced updated features for Claude Cowork, enabling businesses to integrate the productivity platform across a wide range of enterprise software applications.

    The U.K.’s FTSE 100 Index advanced 1.0%, while Germany’s DAX Index gained 0.5% and France’s CAC 40 Index rose 0.4%.

    Shares of U.K.-based pharmaceutical group GSK (LSE:GSK) were largely unchanged after the company agreed to acquire biotech firm 35Pharma Inc., which is developing an early-stage treatment for high blood pressure.

    Banking giant HSBC Holdings (LSE:HSBA) moved sharply higher after reporting 2025 earnings that exceeded market expectations.

    Wind turbine maker Nordex (TG:NDX1) also rallied strongly following better-than-anticipated fourth-quarter results.

    Adecco Group (USOTC:AHEXY) shares climbed after the Swiss staffing company said it was experiencing “positive momentum” in hiring activity at the start of the year.

    In contrast, Diageo (LSE:DGE) dropped sharply after the spirits producer cut its annual sales outlook for the second time during the current fiscal year.

    German healthcare company Fresenius (TG:FME) also declined after issuing a 2026 outlook that disappointed investors.

  • Markets eye Nvidia and Salesforce earnings as AI debate intensifies; gold and oil edge higher: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Markets eye Nvidia and Salesforce earnings as AI debate intensifies; gold and oil edge higher: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. stock futures pointed modestly upward on Wednesday as investors prepared for key earnings releases from Nvidia (NASDAQ:NVDA) and Salesforce (NYSE:CRM). The announcements come amid ongoing uncertainty about how rapidly artificial intelligence could reshape business models across multiple sectors. Meanwhile, gold and oil prices advanced ahead of scheduled talks between U.S. and Iranian officials later this week.

    Futures steady ahead of major results

    U.S. equity futures traded cautiously higher as markets positioned for a busy earnings calendar led by AI chipmaker Nvidia.

    At 03:01 ET, Dow futures were broadly flat, S&P 500 futures rose by 5 points, or 0.1%, and Nasdaq 100 futures gained 29 points, also up 0.1%.

    Wall Street’s main indices closed higher in the previous session after AI firm Anthropic unveiled a series of partnerships, helping to calm fears that its latest models could significantly disrupt software and data companies.

    Investor concern in recent weeks has focused on whether emerging AI products from Anthropic and competitors could weaken demand for traditional software services. At the same time, markets have been closely watching heavy spending on AI infrastructure by major technology companies, with questions emerging over when these investments will translate into meaningful profits and over what some observers describe as the increasingly “circular” structure of AI-sector agreements.

    Illustrating this dynamic, Meta agreed to purchase 6 gigawatts of AI computing capacity from Advanced Micro Devices (NASDAQ:AMD) as part of a $100 billion arrangement that could ultimately give the social media group a roughly 10% stake in the chipmaker. AMD shares rallied after the company said the deal would strengthen its competitive position against Nvidia.

    Adding another layer of uncertainty is U.S. trade policy under President Donald Trump. Following a Supreme Court decision that struck down earlier “reciprocal” tariffs, the administration introduced temporary global duties of 10%. In Tuesday’s State of the Union address, Trump said “everything was working well” with his tariff strategy and described the court ruling as “unfortunate.”

    Nvidia earnings seen as market barometer

    Attention now shifts to Nvidia, whose results — scheduled after the U.S. market close — are widely viewed as a key signal for the global AI investment cycle and broader equity market sentiment.

    Shares of the so-called “Magnificent Seven” technology giants have largely moved sideways this year after surging in the wake of OpenAI’s ChatGPT launch in 2022, which sparked a wave of enthusiasm for AI. While these companies have been major beneficiaries of the AI boom and key drivers of equity gains in recent years, momentum has softened in early 2026.

    “It’s not only Nvidia investors who will be nervous ahead of the company’s results; the entire global equity market may be on edge, given the importance of the AI trade,” said Laurence Booth, Global Head of Markets at CMC Markets.

    Salesforce also in focus

    Salesforce is also due to publish quarterly earnings after the closing bell.

    The cloud software company has been among those most affected by investor unease surrounding increasingly advanced AI systems. Shares of the San Francisco-based group have fallen more than 26% so far this year, highlighting concerns about the outlook for the software-as-a-service industry.

    Analysts at Vital Knowledge described sentiment heading into the release as “gloomy,” noting that disappointing guidance from IT services company Workday earlier in the week added to market caution.

    “[T]he AI-linked medium/long-term existential overhang weighing on all of software will not go away anytime soon,” the analysts warned.

    However, they added that if Salesforce delivers “decent” fourth-quarter results, provides “respectable” guidance for the year ahead, and “demonstrate[s]” stronger progress in AI initiatives, “the stock (and the whole software-as-a-service group) could extend the squeeze higher witnessed on Tuesday.”

    Gold recovers

    Gold prices moved higher after slipping in the previous session amid profit-taking, as investors assessed the implications of new U.S. tariffs and awaited developments from upcoming U.S.-Iran discussions.

    Spot gold rose 0.9% to $5,190.21 per ounce, while U.S. gold futures gained 0.6% to $5,209.51 per ounce. The metal had fallen 1.6% on Tuesday after four consecutive sessions of gains.

    The United States began collecting a temporary 10% global import tariff earlier this week, with officials aiming to raise the rate to 15%, increasing uncertainty around global trade flows and inflation prospects. The move followed a Supreme Court ruling that invalidated earlier tariffs imposed under emergency authority, prompting Washington to reintroduce duties under alternative legal grounds.

    Geopolitical tensions also remained a focal point as U.S. and Iranian representatives prepared for a third round of negotiations in Geneva regarding Tehran’s nuclear programme.

    Oil prices near multi-month highs

    Oil prices traded close to seven-month highs ahead of the Switzerland talks.

    Brent crude futures rose 0.4% to $70.86 per barrel, while U.S. West Texas Intermediate crude gained 0.5% to $65.93 per barrel.

    Both benchmarks remain near their highest levels since early August, as the United States has deployed military assets in the Middle East to pressure Iran toward reaching an agreement over its nuclear programme. U.S. envoys, including special representative Steve Witkoff and presidential adviser Jared Kushner, are expected to meet Iranian officials on Thursday.

  • European Stocks Reach Record High as HSBC Outlook Boosts Banks and AI Concerns Ease: DAX, CAC, FTSE100

    European Stocks Reach Record High as HSBC Outlook Boosts Banks and AI Concerns Ease: DAX, CAC, FTSE100

    European equities climbed to a fresh record on Wednesday, supported by a rebound in banking shares after HSBC (LSE:HSBA) lifted a key lending target, while investor worries about rapid disruption from emerging artificial intelligence models showed signs of easing.

    The pan-European STOXX 600 index rose 0.4% to 631.6 points by 08:24 GMT, after briefly touching an intraday record of 632.40 earlier in the session. Banking stocks advanced by more than 1% as global sentiment improved following announcements from U.S.-based AI startup Anthropic, which partnered with several companies and introduced new AI plug-ins — developments seen as evidence that established businesses are adapting to AI rather than facing immediate displacement.

    Financial institutions are often viewed as particularly exposed to technological disruption. However, indications that companies are integrating AI gradually helped calm concerns about potential margin pressure, improving risk appetite and supporting gains in the banking sector.

    Similar fears around AI-driven disruption have triggered episodes of volatility in global markets several times this year, including sharp declines in European banking stocks during Tuesday’s session.

    Market sentiment was further lifted by HSBC, Europe’s largest lender, which raised an important earnings target after reporting annual profit above expectations despite booking a $4.9 billion one-off charge.

    Among individual movers, onshore wind turbine manufacturer Nordex (TG:NDX1) surged 11.6% after delivering better-than-expected core profit for 2025.

    In contrast, Diageo (LSE:DGE) fell 6.5%, weighing on the broader index after the drinks group lowered its annual sales and profit outlook for the second time in four months and announced a dividend reduction.

  • FTSE 100 rises to record high as earnings drive gains; pound strengthens

    FTSE 100 rises to record high as earnings drive gains; pound strengthens

    UK equities opened higher on Wednesday, supported by a busy corporate earnings schedule led by HSBC, helping markets recover from recent declines linked to geopolitical tensions and concerns surrounding artificial intelligence.

    At 08:36 GMT, the FTSE 100 reached a fresh record, climbing 0.7% to 10,760.70, while sterling strengthened, with GBP/USD rising 0.2% to 1.3520 against the dollar. Elsewhere in Europe, Germany’s DAX added 0.07% and France’s CAC 40 advanced 0.3%.

    UK market roundup

    HSBC Holdings (LSE:HSBA) reported full-year pretax profit of $29.91 billion, surpassing analyst expectations of $28.86 billion, although down from $32.38 billion recorded in 2024. Shares rose 5.8% in early London trading.

    The Asia-focused lender’s year-on-year decline reflected $4.9 billion in notable items, including impairments linked to its Bank of Communications stake and restructuring costs. Excluding these factors, pretax profit increased to $36.62 billion from $34.18 billion. HSBC also issued a 2026 net interest income target above analyst forecasts, lifting its Hong Kong-listed shares by more than 2%.

    Aston Martin (LSE:AML) reported a 21% drop in revenue to £1.26 billion in 2025, while wholesale volumes declined 10% to 5,448 vehicles. Gross profit fell 37% to £369.8 million, with gross margin narrowing to 29.4% from 36.9% in 2024. The luxury carmaker posted an adjusted EBIT loss of £189.2 million, widening from a £82.8 million loss the previous year, as lower volumes, fewer high-margin Special models and tariff pressures weighed on performance. Management outlined plans for a recovery in 2026.

    Haleon (LSE:HLN) shares dropped more than 4% in early trading after the consumer health company reported fourth-quarter organic sales growth of 2.1%, missing consensus forecasts of 3.5%. Volumes declined 0.3% versus expectations for growth of about 1%, while pricing increased 2.4%, broadly in line with estimates.

    St. James’s Place (LSE:STJ) posted an underlying cash result of £462.3 million for 2025, up 3% year on year and 4% above consensus expectations. Underlying cash earnings per share rose 6% to 87.0 pence, while revenue climbed 19% to £3.77 billion. Funds under management reached a record £220.0 billion, up 16%, and the wealth manager announced an accelerated increase in shareholder distributions, sending shares up around 4%.

    Hiscox (LSE:HSX) reported full-year earnings per share 7.5% above company-compiled consensus and unveiled a $300 million share buyback programme, exceeding market expectations by 43% compared with the $210 million consensus estimate. The insurer’s retail division delivered insurance contract written premium growth of 6.3% for the full year, accelerating from 6.1% growth recorded during the first nine months. Fourth-quarter retail premiums rose 10.0%.

    Diageo (LSE:DGE) reported a 2.8% decline in organic revenue and earnings before interest and taxes for the first half of fiscal 2026. Organic revenue and EBIT both fell 2.8%, compared with consensus forecasts for a 2.0% revenue decline and a 3.9% EBIT drop. Earnings per share reached 95.3 cents, ahead of the 93.1-cent consensus estimate, while the company also announced a dividend reduction.

    Jet2 (LSE:JET2) said earnings for the financial year ending March 2026 are expected to match analyst consensus forecasts of £439 million. The airline indicated that summer 2026 EBIT will remain broadly flat year on year before accounting for £40 million to £50 million of investment linked to its new Gatwick base, implying EBIT of roughly £400 million for fiscal 2027.

    Bookings for summer 2027 increased 7.9%, broadly in line with capacity growth of 8.0%. The expansion includes 2.0% underlying growth, with 1.1 million additional seats from new bases and a further 0.4 million seats added across established operations.

  • European stocks trade sideways amid trade uncertainty and AI disruption worries: DAX, CAC, FTSE100

    European stocks trade sideways amid trade uncertainty and AI disruption worries: DAX, CAC, FTSE100

    European equities showed muted movement on Tuesday as renewed trade tensions and ongoing concerns about artificial intelligence-driven disruption kept investor sentiment cautious.

    With markets also monitoring geopolitical risks related to Iran, tariff developments and the broader economic outlook, investors are now looking ahead to U.S. President Donald Trump’s State of the Union address to Congress for further direction.

    Germany’s DAX Index slipped 0.1%, while the U.K.’s FTSE 100 Index edged up 0.1% and France’s CAC 40 Index gained 0.2%.

    Banking stocks came under pressure, with Commerzbank (TG:CBK), Deutsche Bank (TG:DBK) and BNP Paribas (EU:BNP) declining between 1% and 2% amid concerns about the potential long-term impact of AI on employment, consumer trends, economic growth, corporate earnings and equity markets.

    Automakers, meanwhile, posted broad gains. Shares of BMW (TG:BMW), Mercedes Benz (TG:MBG), Volkswagen (TG:VOW3) and Renault (EU:RNO) each rose more than 1%, even after new data showed European car sales declined year-on-year in January for the first time since June.

    Spanish telecommunications group Telefonica (BIT:1TEF) advanced nearly 2% after reporting accelerating core profit growth in the fourth quarter.

    France-based vouchers and employee benefits provider Edenred (EU:EDEN) jumped around 7% after delivering core profit results for 2025 that exceeded expectations.

    Shares of Belgian chemicals company Solvay (EU:SOLB) climbed 3.4% after the group reported fourth-quarter adjusted earnings ahead of analyst forecasts.

  • Markets watch AI disruption risks and new Trump tariffs as earnings season gathers pace: Dow Jones, S&P, Nasdaq, Wall Street Futures

    Markets watch AI disruption risks and new Trump tariffs as earnings season gathers pace: Dow Jones, S&P, Nasdaq, Wall Street Futures

    U.S. equity futures traded in a narrow range on Tuesday as investors balanced concerns about artificial intelligence–related disruption with anticipation ahead of a busy slate of corporate earnings. Market sentiment was also influenced by the rollout of President Donald Trump’s new 10% global tariff regime following a Supreme Court ruling that overturned earlier emergency trade measures. Separately, Paramount Skydance (NASDAQ:PSKY) has reportedly increased its bid for Warner Bros Discovery (NASDAQ:WBD), while Home Depot (NYSE:HD) is set to publish its latest quarterly results.

    Futures hold near unchanged levels

    Futures linked to major U.S. benchmarks remained close to flat as traders prepared for upcoming earnings announcements, including results from AI leader Nvidia (NASDAQ:NVDA).

    At 03:03 ET, Dow futures were higher by 47 points, or 0.1%, S&P 500 futures rose 10 points, or 0.1%, and Nasdaq 100 futures advanced 38 points, or 0.2%.

    Wall Street’s primary indices declined in the previous session amid persistent anxiety over how rapidly advancing AI technologies could reshape multiple industries. Some analysts pointed to a recent Citrini Research report outlining a severe hypothetical scenario in which widespread AI adoption could trigger large-scale white-collar job losses, weaken consumer demand, increase credit defaults and ultimately push the economy into recession.

    Citrini stressed that the analysis represented a “scenario, not a prediction,” though markets remained unsettled amid broader concerns about heavy spending by mega-cap technology firms on AI infrastructure.

    “As has been the case for weeks, AI is clearly a net negative for the equity market as hyperscalers get weighed down [free cash flow] fears while disruption worries eviscerate software and several other sectors,” analysts at Vital Knowledge said in a note.

    Trump’s global tariffs begin

    President Trump’s latest round of global tariffs came into force at midnight Tuesday at a 10% rate, following a Supreme Court ruling last week that struck down his previously imposed “reciprocal” duties.

    The tariff level was communicated through the U.S. Customs and Border Protection messaging system and remains below the 15% rate Trump signalled after the court decision, which found his use of emergency economic powers to implement sweeping global surcharges unlawful.

    Trump initially introduced a universal 10% tariff after the ruling before warning that the rate could rise to 15%. Bloomberg News reported that the White House is preparing a formal order to implement that increase.

    The tariffs, introduced under Section 122 of the Trade Act of 1974, will remain in place for 150 days, after which Congress will determine whether they should continue.

    Uncertainty persists around trade agreements negotiated prior to the court ruling. Responding to reports that some countries may reconsider existing arrangements, Trump cautioned partners via social media not to “play games.”

    Paramount reportedly sweetens offer for Warner Bros Discovery

    Paramount Skydance (NASDAQ:PSKY) has submitted a revised and improved proposal for Warner Bros Discovery (NASDAQ:WBD), according to Reuters, as it attempts to persuade the media group to abandon its agreement with Netflix (NASDAQ:NFLX).

    Reuters, citing a source familiar with the discussions, reported that the updated bid improves on Paramount’s earlier $30-per-share proposal, which valued Warner Bros at approximately $108.4 billion. Warner Bros previously argued the offer undervalued the company and granted Paramount a seven-day deadline — ending February 23 — to submit a revised bid.

    Netflix has separately agreed a deal worth $27.75 per share in cash, valuing the relevant Warner studios and streaming assets at roughly $82.7 billion.

    Variety reported that Warner Bros is expected to review Paramount’s latest proposal while continuing to seek shareholder backing for the Netflix agreement.

    Central to the takeover battle is control of Warner Bros’ valuable intellectual property portfolio, including franchises such as “Game of Thrones” and “Harry Potter.”

    Home Depot earnings in focus

    Home Depot (NYSE:HD) is scheduled to release quarterly earnings before the opening bell on Tuesday.

    The home-improvement retailer previously issued cautious forecasts for fiscal 2026, pointing to modest comparable sales growth and profit expectations amid subdued demand for large-ticket renovation products.

    During a December investor day, chief financial officer Richard McPhail warned that consumer caution tied to cost-of-living pressures is expected to persist, noting there has not yet been “a catalyst or an inflection in housing activity.”

    Elevated home prices and slower hiring trends have contributed to uneven housing demand in the U.S., despite signs that interest rates and mortgage costs may be stabilising.

    Home Depot expects comparable-store sales growth ranging from flat to 2% in fiscal 2026, while adjusted earnings per share are projected to increase between flat and 4%, both below LSEG forecasts cited by Reuters.

    Oil prices hover near multi-month highs

    Oil prices moved slightly higher, trading close to seven-month highs ahead of another round of nuclear negotiations between the United States and Iran later this week.

    Brent crude futures rose 0.2% to $71.28 per barrel, while U.S. West Texas Intermediate crude gained 0.3% to $66.51 per barrel. Both benchmarks remain near levels last seen in early August 2025.

    The United States and Iran are scheduled to hold a third round of nuclear talks in Geneva on Thursday, amid growing concerns about potential military escalation as Washington pushes for an end to Iran’s nuclear programme.

  • FTSE 100 opens lower as AI concerns weigh on sentiment; Standard Chartered in focus

    FTSE 100 opens lower as AI concerns weigh on sentiment; Standard Chartered in focus

    UK equities edged lower at Tuesday’s open, with investor sentiment remaining cautious amid ongoing concerns about artificial intelligence–driven disruption and broader geopolitical uncertainty. Market participants are expected to keep a close watch on developments linked to the AI theme, which analysts say continues to influence global risk appetite.

    Sterling slipped below the $1.34 level as trading began, while attention also turned to monetary policy developments. Four Bank of England rate-setters are scheduled to appear before parliament later in the day, with investors looking for clues on the likelihood of a potential interest rate cut in March as policymakers remain divided on the outlook.

    As of 08:11 GMT, the FTSE 100 index was down 0.2%, while GBP/USD fell 0.1% to 1.3475. European markets also weakened, with Germany’s DAX and France’s CAC 40 both declining by around 0.3%.

    UK market movers

    Standard Chartered PLC (LSE:STAN) reported fourth-quarter results that missed analyst expectations, as higher costs and flat revenue growth weighed on performance. The Asia-focused bank posted underlying pre-tax profit of $1.24 billion for the three months to 31 December, below Bloomberg consensus estimates of $1.38 billion, although still 18% higher than the $1.05 billion recorded a year earlier. Operating income remained broadly unchanged at $4.85 billion, with growth in wealth solutions and global banking offset by weaker episodic trading income within markets.

    Croda International PLC (LSE:CRDA) reported improved adjusted earnings for 2025, supported by strong performance in its Consumer Care and Life Sciences divisions. Group sales rose to £1.70 billion, representing a 6.6% increase at constant currency, driven mainly by a 9.6% rise in volumes. Adjusted operating profit climbed 7.9% to £295.3 million, lifting margins to 17.4%, while adjusted profit before tax increased 8.4% to £276.2 million. Adjusted basic earnings per share rose slightly to 146.2 pence from 142.6 pence a year earlier.

    Unite Group PLC (LSE:UTG) reported a 2% decline in net asset value for 2025 and issued more cautious earnings guidance for the year ahead, reflecting weaker occupancy trends and moderating rental growth despite continued demand from higher-tariff universities. The student accommodation provider recorded net asset value of 955 pence per share, below Jefferies’ forecast of 988 pence. Adjusted earnings per share increased 2% year-on-year to 47.5 pence, marginally below expectations, while the company declared a dividend of 37.7 pence per share, slightly under consensus forecasts.