ADVFN UK Market News

Category: Top Story

  • FTSE 100 rises as Trump eases tariff rhetoric, sterling steady

    FTSE 100 rises as Trump eases tariff rhetoric, sterling steady

    UK equities moved higher on Thursday, tracking gains across European markets after U.S. President Donald Trump softened his stance on tariffs linked to Greenland. The shift weighed on defence stocks, while carmakers were among the strongest performers.

    By 12:27 GMT, the FTSE 100 was up 0.3%. Sterling was little changed, with GBP/USD holding at 1.347. On the continent, Germany’s DAX and France’s CAC 40 were both higher by more than 1%.

    UK and Europe market overview

    European defence shares slipped after Trump said he would not move ahead with fresh tariffs on European countries, pointing to progress toward “the framework of a future deal” related to Greenland.

    Shares in Germany’s Rheinmetall AG (TG:RHM), Italy’s Leonardo SpA (BIT:LDO), France’s Thales (EU:HO) and Sweden’s SAAB AB (BIT:1SAAB) were among the decliners.

    Trump said the decision followed talks with NATO secretary-general Mark Rutte, which he described as “very productive.” He added that discussions would continue and could lead to an outcome that, “if consummated,” would be “a great one” for the United States and NATO allies.

    In contrast, European auto stocks advanced, with Mercedes-Benz Group AG (TG:MBG), BMW (TG:BMW), Stellantis NV (BIT:STLAM) and Ferrari NV (BIT:RACE) all trading higher.

    Stock movers

    In the UK, Computacenter PLC (LSE:CCC) shares jumped after the group brought forward its full-year trading update and flagged stronger-than-expected results. The IT services provider said gross invoiced income rose 31% year on year in 2025, or 32% at constant currency, around 14% ahead of market expectations. Adjusted profit before tax is now expected to be no less than £270 million.

    Shares in Senior plc (LSE:SNR) surged after the company said full-year 2025 adjusted profit before tax would be “comfortably above previous expectations,” supported by particularly strong performance in its Aerospace division.

    By contrast, B&M European Value Retail SA (LSE:BME) fell after reporting weaker third-quarter trading and trimming its full-year profit guidance. UK like-for-like sales declined 0.6% in the third quarter, although trading improved as the period progressed, with December delivering 3% growth.

    Harbour Energy PLC (LSE:HBR) shares moved lower after the company guided to reduced output in 2026, despite a strong finish to 2025. Harbour expects production next year of between 435,000 and 455,000 barrels of oil equivalent per day, excluding planned asset disposals and its $3.2 billion acquisition of LLOG.

    Meanwhile, AJ Bell PLC (LSE:AJB) reported assets under administration of £109.6 billion at the end of 2025, roughly £2 billion above consensus forecasts. The group added 26,000 new direct-to-consumer customers in the first quarter, more than double the 11,000 expected by analysts.

    Finally, Beazley PLC (LSE:BEZ) fell after the insurer unanimously rejected a takeover approach from Zurich Insurance Group AG (BIT:1ZURN). Beazley said the proposal of 1,280 pence per share, valuing the company at about £8.2 billion, materially undervalued the business.

  • European Markets Rally After Trump Retreats From Tariff Threat: DAX, CAC, FTSE100

    European Markets Rally After Trump Retreats From Tariff Threat: DAX, CAC, FTSE100

    European equities climbed sharply on Thursday after U.S. President Donald Trump said he would not move forward with tariffs on European countries linked to Greenland, adding that a framework agreement had been reached regarding the Danish territory.

    By 08:05 GMT, Germany’s DAX was up 1.2%, France’s CAC 40 had gained 1.3%, and the UK’s FTSE 100 was 0.7% higher.

    Trump backs away from tariff plans

    Speaking on Wednesday at the World Economic Forum in Davos, Trump ruled out the use of military force—after weeks of leaving the option open—and said in a social media post that he would no longer impose tariffs that had been due to take effect on February 1.

    The U.S. president said he and NATO Secretary General Mark Rutte had “formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region” following talks at the Swiss resort.

    Earlier in the week, European markets had sold off sharply after Trump threatened escalating tariffs on several European countries unless the United States was allowed to purchase Greenland, an autonomous territory of Denmark.

    Despite the market relief, uncertainty remains around the future strength of the traditional alliance between the European Union and the U.S. That tension was underlined on Wednesday when European Central Bank President Christine Lagarde walked out of a dinner during a speech by U.S. Commerce Secretary Howard Lutnick.

    Lagarde said earlier in the day that the European economy needs a “deep review” to confront “the dawn of a new international order.”

    U.S. inflation data in focus

    There is little in the way of major European economic data scheduled for Thursday, but investors are closely watching a series of key U.S. releases.

    Weekly initial jobless claims will offer insight into labour market conditions, while the latest reading of third-quarter gross domestic product is expected to confirm underlying economic resilience. However, the most closely followed figure may be November core PCE inflation—the Federal Reserve’s preferred measure of price pressures—as markets look for clues on the likely trajectory of U.S. interest rates this year.

    Corporate updates across Europe

    In company news, Associated British Foods (LSE:ABF) said underlying sales at its Primark clothing chain declined over the Christmas trading period, in line with estimates released alongside its profit warning earlier this month.

    Spain’s Bankinter (BIT:1BKT) reported a 14.4% increase in net profit to a record €1.09 billion in 2025, supported by strong growth in off-balance-sheet funds and fee income, which offset weaker net interest income as rates fell.

    Swiss healthcare group Galenica (BIT:1GALE) said 2025 sales rose 5.5% to an all-time high, with all divisions contributing, and reaffirmed EBIT growth guidance of 10–12% for the year.

    Meanwhile, Huber + Suhner (LSE:0QNH) said full-year order intake increased nearly 14% year on year, although net sales declined 3.3% as the Swiss franc strengthened.

    Oil prices steady as inventory build weighs

    Oil prices were little changed on Thursday as easing tariff concerns around Greenland were offset by rising U.S. crude inventories.

    Brent crude slipped 0.3% to $65.02 a barrel, while U.S. West Texas Intermediate fell 0.2% to $60.49.

    The American Petroleum Institute reported that U.S. crude inventories rose by just over 3 million barrels in the week ended January 16, following a jump of more than 5 million barrels the previous week. Gasoline inventories increased by 6.21 million barrels, signalling softer demand, while distillate stocks—which include diesel and heating oil—fell by 33,000 barrels.

    Official U.S. inventory data from the Energy Information Administration are due later in the session, released a day later than usual because of a U.S. federal holiday on Monday.

  • Young & Co’s Brewery Delivers Strong Festive Trading and Sets Sights on Main Market Move

    Young & Co’s Brewery Delivers Strong Festive Trading and Sets Sights on Main Market Move

    Young & Co’s Brewery (LSE:YNGA) said on Thursday that it delivered standout trading over the Christmas period and confirmed plans to transfer its listing from AIM to the Main Market of the London Stock Exchange.

    The premium pub group reported like-for-like sales growth of 11.2% for the three weeks to 5 January, extending momentum from a strong comparative period last year. Trading was particularly robust across key festive dates, with like-for-like sales up 12.3% on Christmas Eve, Christmas Day and Boxing Day combined.

    Performance at the former City Pub estate was especially notable, with sales over Christmas and Boxing Day rising by 26%, underlining the successful integration of the acquired pubs into Young’s operating model.

    For the 14-week period to 5 January, total managed revenue increased by 5.6%, while like-for-like managed revenue rose 5.7%. On a year-to-date basis, like-for-like managed revenue growth now stands at 5.4%.

    Alongside the trading update, Young’s announced its intention to move its shares from AIM to the Main Market, with the transition expected to take place in the second quarter of 2026. The company said the move is designed to raise its corporate profile and broaden its appeal to both UK and international institutional investors.

    Simon Dodd, chief executive of Young’s, said the group delivered a record-breaking festive period. “During the six weeks of the festive period, we recorded our highest ever sales in one day, setting multiple daily and weekly records across our estate,” he said.

    The company added that its focus on operating premium, individual pubs continues to generate resilient growth, supported by sustained investment and disciplined capital allocation.

  • AJ Bell Reports Record Assets and Inflows Despite Pension Outflows Linked to Budget Uncertainty

    AJ Bell Reports Record Assets and Inflows Despite Pension Outflows Linked to Budget Uncertainty

    AJ Bell plc (LSE:AJB) delivered a strong start to its financial year, reporting continued growth across its platform despite elevated pension outflows. Customer numbers increased by 29,000 in the first quarter to 673,000, while assets under administration reached a record £108.0bn, representing a 21% year-on-year increase.

    Both advised and direct-to-consumer channels recorded their highest-ever quarterly gross inflows of £4.6bn, with net inflows of £1.5bn. Performance was supported by positive market movements and sustained investment in brand awareness and platform functionality. Assets under management within AJ Bell Investments also advanced sharply, rising 32% over the year to £9.5bn. During the period, the group completed the disposal of its Platinum SIPP and SSAS non-platform business, transferring £3.3bn of assets as it sharpens its focus on core platform activities.

    Management noted that the strong inflow performance was partly offset by higher pension withdrawals of around £500m, which it attributed to uncertainty ahead of the UK Budget and potential tax changes. The company cautioned that such volatility risks undermining broader government objectives to promote long-term retail investing. Nevertheless, AJ Bell said its dual-channel operating model, combined with ongoing marketing investment, positions the group well to capture structural growth opportunities in the UK investment platform market over the longer term.

    From an outlook perspective, AJ Bell’s robust financial performance stands out, reflecting solid growth and profitability. However, technical indicators suggest bearish momentum, which weighs on the overall assessment. Valuation appears reasonable but not sufficiently compelling to fully counterbalance the weaker technical picture.

    More about AJ Bell plc

    AJ Bell plc is one of the UK’s largest investment platforms, operating at scale across both advised and direct-to-consumer markets. Founded in 1995 and headquartered in Manchester, the group offers pensions, ISAs and general investment accounts, with an emphasis on low-cost and straightforward investment solutions, including access to global equities and its own range of AJ Bell funds. Its propositions span full-service and app-based platforms for financial advisers as well as low-cost digital platforms for retail investors, supported by custody and white-labelled investment management services.

  • Wickes Records Volume-Driven Sales Growth and Ends 2025 with Strong Cash Balance

    Wickes Records Volume-Driven Sales Growth and Ends 2025 with Strong Cash Balance

    Wickes Group plc (LSE:WIX) reported a robust second half performance in 2025, with group revenue rising 6.3% year on year to £788m and full-year revenue increasing 5.9% to £1.64bn. Growth was largely volume-led, achieved against a mildly deflationary pricing backdrop.

    Retail revenue increased by 6.2% in the second half as Wickes continued to gain market share, reaching a record level. TradePro remained a key driver, with sales up 8% and the number of active TradePro members growing 11% to 643,000. DIY sales also contributed, delivering mid-single-digit growth. The Design & Installation division reported second-half revenue growth of 6.9%, supported by enhancements to the kitchen and bathroom ranges and sustained momentum in both ordered and delivered sales, extending a run of consecutive quarters of positive like-for-like growth.

    The group continued to invest in its strategic growth initiatives, opening five new stores during the year, completing one full refit and refreshing a further five locations. As a result, around 83% of the estate is now in the new store format. Financially, Wickes ended the year with net cash of £92m after completing a £20m share buyback, while average cash of £153m was supported by a healthy order book. The company expects adjusted profit before tax for 2025 to be in line with market expectations, underlining management’s confidence in the business strategy and its ability to balance growth with balance sheet strength.

    In terms of outlook, Wickes benefits from strong technical momentum and shareholder-friendly actions such as share buybacks. However, overall financial performance remains moderate, reflecting relatively high leverage and uneven revenue trends. Valuation metrics point to potential overvaluation, although the dividend yield provides some offset.

    More about Wickes Group

    Wickes Group plc is a digitally led, service-enabled home improvement retailer operating around 230 “right-sized” stores across the UK, supported by its website and mobile applications. The business serves three main customer segments: local trade professionals through the TradePro programme, DIY customers within its Retail division, and larger project-led work such as kitchens, bathrooms and solar installations through its Design & Installation segment, positioning the group to benefit from long-term structural demand in home improvement.

  • Cloudbreak Reports High-Grade Gold at Crofton and Raises £1.85m to Fund Pilbara Exploration

    Cloudbreak Reports High-Grade Gold at Crofton and Raises £1.85m to Fund Pilbara Exploration

    Cloudbreak Discovery PLC (LSE:CDL) announced highly encouraging early assay results from its maiden field visit to the Crofton Gold Project in Western Australia. Rock chip sampling returned grades of up to 162.35 g/t gold, with 15 samples grading above 1 g/t, confirming and extending previously identified high-grade mineralisation. The results outline a broad mineralised footprint spanning roughly 1km by 4km and characterised by extensive quartz veining.

    Following the strong initial results, the company plans immediate follow-up work, including systematic soil sampling, detailed geological mapping and additional rock chip programmes aimed at refining priority drill targets. In parallel, Cloudbreak has completed a £1.85m equity placing with existing institutional investors, strengthening its balance sheet to support an expanded gold exploration push in the Pilbara region. The funding will also be used to consolidate its recently acquired Crofton and Darlot West assets and progress its wider Australian gold portfolio against a backdrop of supportive precious metals prices.

    From an outlook perspective, Cloudbreak continues to be constrained by weak financial metrics, including the absence of revenue, ongoing losses and cash burn, and negative equity reported for 2025. These factors are partially offset by constructive technical signals, with the share price trading above key moving averages, and a steady flow of positive corporate developments linked to asset acquisitions and exploration progress. Valuation remains challenging while the group remains loss making.

    More about Cloudbreak Discovery PLC

    Cloudbreak Discovery PLC is a London-listed mineral exploration company focused on gold, precious metals and base metals, with a primary operational focus on Western Australia. Through its wholly owned subsidiaries, the group is building a portfolio of high-potential mineral assets and generating new projects using a multi-asset, generative exploration model designed to capture opportunities across the commodity cycle and deliver long-term shareholder value.

  • European shares slide as trade concerns weigh on sentiment: DAX, CAC, FTSE100

    European shares slide as trade concerns weigh on sentiment: DAX, CAC, FTSE100

    European equity markets traded mostly lower on Wednesday, as persistent trade-related uncertainty linked to Greenland kept investors cautious.

    On the macro front, U.K. inflation surprised to the upside in December. Data from the Office for National Statistics showed consumer prices rose 3.4% year on year, up from 3.2% in November and above expectations for a 3.3% reading.

    Equity benchmarks reflected the risk-off mood. Germany’s DAX fell around 1.4%, France’s CAC 40 was down 0.6%, while the U.K.’s FTSE 100 slipped 0.1%.

    At the stock level, Webuild Group (BIT:WBD) shares advanced after its U.S. subsidiary, together with joint venture partner Superior Construction, signed contracts worth $643 million for the Westshore Interchange project in Florida.

    Shares in Barry Callebaut (BIT:1BARN) rallied after the cocoa and chocolate group named former Unilever chief executive Schumacher as its new CEO.

    Asset manager Aberdeen Group (LSE:ABDN) also moved higher, despite reporting net outflows of £3.9 billion ($5.24 billion) in 2025, which it attributed to ongoing budget uncertainty.

    Luxury stocks were mixed but Burberry Group (LSE:BRBY) surged after the company said retail like-for-like sales rose 3% in the third quarter, beating market expectations.

    JD Sports Fashion (LSE:JD.) also posted solid gains following the release of mixed but resilient Christmas trading figures.

    On the downside, shares of Experian (LSE:EXPN) dropped sharply after the credit data and analytics group left its full-year outlook unchanged, disappointing some investors looking for an upgrade.

  • European markets trade mixed as investors brace for Trump’s Davos appearance: DAX, CAC, FTSE100

    European markets trade mixed as investors brace for Trump’s Davos appearance: DAX, CAC, FTSE100

    European equities showed a mixed performance on Wednesday, with investors adopting a cautious stance ahead of U.S. President Donald Trump’s speech at the World Economic Forum later in the day.

    By 08:05 GMT, Germany’s DAX was down 0.3%, France’s CAC 40 was broadly flat, while the UK’s FTSE 100 edged 0.1% higher.

    Trump heads to Davos

    Market sentiment has been under pressure this week after U.S. President Donald Trump threatened to escalate tariffs on several European allies unless the United States is allowed to purchase Greenland, the autonomous Danish territory.

    Speaking at a press conference late Tuesday, Trump reiterated his position that the island needs to become U.S. territory.

    “I think we will work something out where NATO is going to be very happy and where we’re going to be very happy. But we need it for security purposes. We need it for national security,” he said.

    When asked how far he would go to secure Greenland, Trump offered a brief response: “You’ll find out,”

    raising concerns that he may use the Davos platform to intensify his push — a move that could further strain relations with European allies.

    Earlier on Wednesday, Christine Lagarde, head of the European Central Bank, said the European economy needs a “deep review” to confront “the dawn of a new international order”. Lagarde added that U.S. tariffs would likely have only a modest inflationary impact overall, though Germany would be more affected than France, and argued that Europe would be stronger if it dismantled non-tariff trade barriers within the bloc.

    UK inflation accelerates in December

    UK inflation surprised to the upside in December, with consumer prices rising more than expected. The annual CPI rate climbed to 3.4% from 3.2% in November, above forecasts of 3.3%, according to data released earlier in the session.

    Inflation in Britain remains the highest among the G7 economies, despite weak economic growth. However, economists expect price pressures to ease in the coming months as last year’s increases in energy costs and other regulated prices drop out of the annual comparison.

    Corporate movers in focus

    In company news, Burberry (LSE:BRBY) exceeded expectations for sales growth during the crucial holiday quarter and guided for full-year profit in line with forecasts, helped by improved demand from China and a strategic refocus on its British heritage.

    Premier Foods (LSE:PFD) posted a strong third-quarter performance, reporting a 5.2% increase in branded revenue after better-than-expected Christmas trading.

    Atos (EU:ATO) said preliminary fiscal 2025 revenue reached €8 billion, meeting its target, while net cash outflow was lower than anticipated.

    Barry Callebaut (BIT:1BARN) reported a 9.9% decline in first-quarter sales volumes and announced that Hein Schumacher will take over as chief executive later this month.

    InPost (EU:INPST) said full-year 2025 parcel volumes jumped 25%, driven by strong international growth and a sharp rise in UK deliveries, with total volumes reaching a record 1.4 billion parcels.

    Outside Europe, Netflix (NASDAQ:NFLX) drew attention after beating expectations for fourth-quarter revenue and earnings, while also signalling a pause in share buybacks as it builds cash amid intense bidding competition for Warner Bros Discovery.

    Oil prices slide on Greenland tensions

    Oil prices fell sharply on Wednesday amid concerns that escalating trade tensions linked to the Greenland dispute could weigh on global growth.

    Brent crude futures dropped 1.5% to $63.95 a barrel, while U.S. West Texas Intermediate fell 1.3% to $59.56. Both benchmarks had closed nearly 1.5% higher in the previous session after OPEC+ producer Kazakhstan temporarily halted output at two oilfields, raising supply concerns.

    Beyond geopolitics, markets are awaiting a monthly report from the International Energy Agency later in the day, as well as updates on U.S. crude oil and gasoline inventories. Weekly data from the American Petroleum Institute is due later Wednesday, with official figures from the Energy Information Administration scheduled for Thursday, both delayed by one day due to a U.S. federal holiday earlier in the week.

  • JD Sports shares gain as FY26 profit outlook holds and North America momentum improves

    JD Sports shares gain as FY26 profit outlook holds and North America momentum improves

    JD Sports Fashion (LSE:JD.) said on Wednesday that it expects full-year profit to come in line with market expectations, after reporting resilient trading over the peak period and a pickup in sales momentum in North America, its largest market. The update lifted the retailer’s shares by more than 2%.

    The group said profit before tax and adjusting items for the 2025–26 financial year should align with current market forecasts, with company-compiled consensus standing at £849m.

    “Overall sales during the peak period were in line with our expectations, against a volatile consumer backdrop. Black Friday saw strong customer engagement across all regions, but demand softened in the first half of December, particularly in Europe and the UK,” said Régis Schultz, chief executive of JD Sports Fashion, in a statement.

    Group organic sales increased 1.4% in the nine weeks to 3 January, while like-for-like sales declined 1.8%. JD Sports noted that like-for-like trends in North America improved versus the previous quarter, helping to offset ongoing weakness in Europe and the UK.

    North America accounted for 39% of fourth-quarter-to-date sales and delivered like-for-like growth of 1.5%, alongside organic sales growth of 5.3%. Excluding standalone Finish Line stores, like-for-like sales in the region rose 4.1%.

    “JD’s brand awareness continues to grow in the US and, building on this momentum, we have decided to increase our marketing initiatives in North America in the coming year to accelerate our growth plans in the region,” Schultz added.

    The company pointed to resilient demand for footwear and a strong online performance over the holiday period. In Europe, which represented 32% of sales, like-for-like revenue fell 3.4%, although organic sales edged up 0.9%. The UK, accounting for 25% of sales, saw like-for-like sales decline 5.3% and organic sales drop 4.8%, reflecting weaker consumer conditions and higher levels of promotional activity.

    JD Sports said it expects its full-year gross margin to be around 50 basis points lower year on year, mainly due to controlled price investments, particularly online. As of 1 November 2025, group gross margin was already 60 basis points below the prior year.

    The retailer also reiterated that it remains on track to generate around £400m of free cash flow in FY26, up from £339m the previous year, supported by ongoing cost discipline and inventory management.

  • Currys upgrades profit outlook after strong peak trading and Nordic-led growth

    Currys upgrades profit outlook after strong peak trading and Nordic-led growth

    Currys (LSE:CURY) reported a robust peak trading performance over the 10 weeks to 10 January 2026, with group like-for-like revenue rising 6%. Growth was driven by a solid 3% increase in the UK & Ireland and a standout 12% uplift in the Nordics, where market conditions continued to improve and sales advanced across all countries and product categories.

    The retailer said it gained market share in both regions, supported by double-digit growth in omnichannel sales. Higher-margin, recurring revenue streams also performed well, including services, credit and B2B, while the iD Mobile customer base expanded 19% year on year to 2.5 million subscribers.

    Reflecting this momentum, Currys raised its guidance for adjusted profit before tax to between £180m and £190m, ahead of current market expectations. The group also confirmed it remains on track to finish the year with net cash in excess of £100m. Alongside this, management reiterated its commitment to shareholder returns, highlighting the ongoing £50m share buyback programme and the payment of an interim dividend.

    Strategically, Currys continues to focus on disciplined capital allocation and maintaining a net cash balance sheet, while targeting an adjusted EBIT margin of at least 3% in both the UK & Ireland and Nordic regions over the longer term. While profitability remains an area for further improvement, the company’s strong cash generation and attractive valuation provide support, even as technical indicators present a more mixed near-term picture.

    More about Currys plc

    Currys plc is a leading omnichannel retailer of technology products and services, operating online and through more than 700 stores across six countries. Trading as Currys in the UK & Ireland and Elkjøp in the Nordics, the group is the market leader in all its territories, selling consumer electronics, appliances and related services. Currys also operates the iD Mobile virtual network in the UK, runs one of Europe’s largest technology repair centres and manages an extensive distribution network, positioning it as a scale player in the consumer technology market.