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Kooth PLC (LSE:KOO) has secured a one-year extension of its partnership with the State of New Jersey, a deal worth $1.45 million annually. Under the agreement, the company will continue offering mental health resources to around 50,000 students across four school districts through its Soluna platform.

The renewal underscores both the demand for Kooth’s digital services and the strength of its local support, reinforced by 127 advocacy partnerships throughout New Jersey. It also provides the company with an opportunity to deepen its collaboration with the state.

About Kooth

Kooth PLC is a prominent digital mental health provider, best known for its Soluna platform. Operating within the digital health sector, the company partners with school districts to deliver accessible mental health support for students.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

London’s FTSE 100 rose on Wednesday as investors digested the U.S. government shutdown, with healthcare shares driving much of the upside following Pfizer’s drug-pricing agreement with Washington, which reduced policy uncertainty.

By 12:31 GMT, the FTSE 100 had gained 0.6%, while the British pound strengthened 0.5% versus the U.S. dollar to 1.35. In continental Europe, Germany’s DAX rose 0.3%, and France’s CAC 40 added 0.4%.

Healthcare sector surges on Pfizer deal

Healthcare companies were among the strongest performers, with AstraZeneca PLC (LSE:AZN) climbing 7.2%, Hikma Pharmaceuticals PLC (LSE:HIK) up over 5%, and GSK plc (LSE:GSK) gaining 2.9%, following the trend set by their European peers.

The rally comes after Pfizer Inc (NYSE:PFE) reached an agreement with President Donald Trump on Tuesday to lower Medicaid prescription drug prices in exchange for tariff relief. Shares of Pfizer surged 6.8% on the announcement.

European healthcare stocks also recorded notable gains. Ambu A/S (TG:547A) jumped 10%, Sartorius AG (EU:DIM) rose more than 11%, and Merck KGaA (NYSE:MRK) and Roche Holding AG (BIT:1ROG) added roughly 6.7% and 7%, respectively.

Other market movers

Shares of Greggs PLC (LSE:GRG) climbed over 7% after the bakery chain reported a 6.1% year-on-year sales increase for the 13 weeks ending September 27, with like-for-like sales in company-run stores up 1.5%. Year-to-date, total sales rose 6.7%, with like-for-like growth of 2.2%.

Conversely, Tate & Lyle PLC (LSE:TATE) shares dropped more than 10% after the food ingredients maker warned of declining full-year profit and revenue due to weaker demand in the Americas and heightened pressure in Europe. The company now expects revenue and EBITDA for the fiscal year ending March 31, 2026, to decrease by low single-digit percentages at constant currency.

Economic data

The S&P Global UK Manufacturing Purchasing Managers’ Index showed further deterioration in September, falling to a five-month low of 46.2 from 47.0 in August, marking the twelfth consecutive month below the neutral 50 threshold and signaling ongoing contraction in the sector.

UK house prices rose 0.5% in September, slightly surpassing expectations, after declining 0.1% in August, according to Nationwide Building Society.

Bank of England policymaker Catherine Mann commented on Wednesday that monetary policy remains accommodative relative to inflation and economic activity. In a Bloomberg TV interview, she said keeping interest rates unchanged is “appropriate for the current period,” while noting concerns over inflation expectations: “There is drift in inflation expectations, and that’s a very important ingredient in my thinking about the persistence of the inflation.”

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities edged higher on Wednesday, even as the U.S. government entered a shutdown after the Senate failed to approve a short-term funding measure.

The U.K.’s FTSE 100 rose 0.6%, the French CAC 40 gained 0.4%, and the German DAX inched up 0.1%.

On the economic front, U.K. house prices accelerated in September amid easing borrowing costs. According to Nationwide Building Society, prices rose 2.2% year-on-year, slightly faster than August’s 2.1% gain and above the forecast of 1.8%. On a monthly basis, values climbed 0.5% after a 0.1% decline in August, beating economists’ expectations of 0.2%.

Pharmaceutical stocks rallied after Pfizer (NYSE:PFE) struck an agreement with the U.S. government to reduce prescription drug costs in exchange for tariff relief.

In the energy sector, Vallourec (EU:VK), a tubular solutions provider, jumped following a Petrobras order for more than 30 units of its Submagnetic Free Flow Oil Country Tubular Goods (OCTG) system, designed to prevent scaling in production pipes.

U.K. bakery and fast-food chain Greggs (LSE:GRG) surged after reporting 6.1% sales growth in the third quarter of 2025.

French engineering and technology firm Technip Energies (EU:TE) advanced after securing two engineering service contracts from Repsol for its Ecoplanta Molecular Recycling Solutions project.

Diageo (LSE:DGE), the spirits giant, rose after issuing €1 billion in fixed-rate bonds under its European Debt Issuance Program. Dutch engineering consultancy Arcadis (EU:ARCAD) also climbed sharply following news of a share buyback.

On the downside, Tate & Lyle (LSE:TATE), one of the world’s largest sweetener producers, fell sharply after revising down its revenue and EBITDA outlook for the fiscal year ending March 31.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures pointed to a weaker start on Wednesday, with traders preparing for renewed volatility following several days of market gains. The cautious mood follows the federal government’s official shutdown overnight, after Congress failed to approve a stop-gap spending bill.

The stalemate stems from deep partisan differences. Democrats have pushed for the inclusion of extended Obamacare tax credits in the temporary funding plan, while Republicans argue the measure should first secure passage before such provisions are debated.

Investors are concerned about the economic fallout of the shutdown, but the immediate focus is on the potential delay of critical government data. The Labor Department’s September jobs report, one of the most closely watched indicators for monetary policy, was scheduled for release Friday but is now likely to be postponed.

Without official updates on employment or inflation, the Federal Reserve could face greater challenges in shaping its policy outlook this month. In the meantime, private reports may carry more weight. Payroll processor ADP reported Wednesday that private sector employment dropped by 32,000 in September, far below expectations for a 50,000 increase. The report marked the second straight month of job losses after a downwardly revised 3,000 decline in August.

On Tuesday, Wall Street traded sideways for most of the day as investors monitored developments in Washington. The major indexes swung between gains and losses before a late-session rally pushed them into the green. The S&P 500 advanced 0.4% to 6,688.46, the Nasdaq added 0.3% to 22,660.01, and the Dow rose 0.2% to 46,397.89.

Analysts said the rebound likely reflected some optimism that lawmakers might strike a last-minute compromise, or at least confidence that the economic effects of the shutdown would remain contained if it proves short-lived.

Separate data released Tuesday showed consumer confidence falling more sharply than expected in September. The Conference Board index dropped to 94.2 from 97.8 in August, hitting its lowest reading since April 2025.

Sector performance was mixed across the board. Pharmaceutical stocks were the standout, with the NYSE Arca Pharmaceutical Index climbing 3.7% to a six-month high. Pfizer surged 6.8% after announcing a deal with the Trump administration aimed at lowering prescription drug costs for U.S. patients.

Healthcare shares also saw strong gains, as did biotechnology, computer hardware, and networking names. By contrast, banks and energy producers came under pressure, weighing on broader market sentiment.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Taylor Wimpey (LSE:TW.) confirmed its dividend policy and reiterated its 2025 guidance during its capital markets day on Wednesday, highlighting medium-term objectives such as higher completions, improved margins, and enhanced returns.

RBC Capital Markets emphasized the importance of the dividend confirmation. “The key takeaway for us is that the dividend policy has been maintained, hopefully putting the dividend debate to rest,” the brokerage said.

RBC added, “Taylor Wimpey is demonstrating that it has a resilient model in a moribund market and is ready for growth when the market allows.”

The company set a near-term target of 14,000 U.K. completions, above the consensus peak forecast of 13,095 by 2030. Projected operating profit margins are between 16% and 18%, exceeding the 17.1% consensus estimate. The group’s return on net operating assets is expected to surpass 20%, compared with a 21.1% consensus by 2030.

Taylor Wimpey stated its U.K. landbank will be between 4.5 and 5 years, noting that recent planning framework changes enable a shorter landbank. As of H1 2025, the company reported a 6.9-year owned and controlled forward landbank. The capital allocation policy was also reaffirmed.

For 2025, the housebuilder reiterated its operating profit guidance of £424 million, close to the consensus of £426 million. Completion guidance remains at 10,400–10,800 homes, near the consensus of 10,555. Year-end outlets are expected between 210 and 215, versus a consensus of 211, with average outlets projected to increase year on year as capital is redeployed.

In trading for the nine weeks ending September 28, the net private sales rate was 0.65 per outlet per week, down 7.1% from the prior period. Excluding bulk deals, the rate fell 5.9%, compared with a 13% year-on-year decline for the four weeks ending July 27, excluding bulks.

The order book as of September 28 stood at £2,123 million, down 1% in value and 6% in volume compared with the previous year. Forward order book pricing implied a 5% increase year on year. As of June 29, the order book was down 2% in volume and up 5% in value, with pricing remaining broadly flat in recent trading.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The U.S. dollar slipped on Wednesday, retreating to a one-week low as concerns mount that an extended U.S. government shutdown could dampen economic growth.

At 04:25 ET (08:25 GMT), the Dollar Index, which measures the greenback against six major currencies, was down 0.2% at 97.275, hitting its lowest level in a week.

U.S. Government Shutdown Casts a Shadow

Much of the U.S. government has ceased operations after an eleventh-hour spending bill, supported by Republicans, failed to pass the Senate, with Democrats continuing to resist.

“There doesn’t appear to be a clear path out of the impasse, and many fear this shutdown could last longer than the budget-related closures of the past given the sharp political differences between the two sides.”

President Donald Trump has already signaled further federal workforce reductions, with more than 150,000 workers set to leave the payroll this week after accepting buyouts, marking the largest exodus in eight decades.

“Investors are fearful that this could be a longer shutdown, which will only weigh further on consumer confidence and job security,” said analysts at ING, in a note.

The shutdown is expected to delay Friday’s highly anticipated nonfarm payrolls report, a key indicator that markets use to assess the likelihood of a Federal Reserve rate cut later this month. In the meantime, the ADP National Employment Report may receive extra scrutiny and is forecasted to show a modest increase of 50,000 private-sector jobs for September.

Euro Gains Ahead of Eurozone Inflation Data

In European trading, EUR/USD rose 0.2% to 1.1757 as investors awaited the eurozone CPI release later in the session, expected to show annual inflation ticking up to 2.2% from 2% previously.

However, the risk remains to the upside following Germany’s higher-than-expected inflation in September, which rose for a second consecutive month, ending the disinflation trend seen over recent months.

“However, we think the U.S. government shutdown and the softer dollar story should dominate today and could be enough to drag EUR/USD to 1.1800/1820,” said ING.

GBP/USD also moved 0.2% higher to 1.3474, as sterling gained after Nationwide Building Society reported that U.K. house prices rose faster than expected last month, climbing 0.5% in September following a 0.1% decline in August. Year-over-year, house prices were up 2.2%, slightly above August’s 2.1% increase, yet still below average wage growth and inflation.

Dollar Weakness Supports Yen

Elsewhere, USD/JPY fell 0.5% to 147.14, with the Japanese yen benefiting from dollar softness. The Bank of Japan’s quarterly “tankan” survey released Wednesday showed improving confidence among large manufacturers for the second consecutive quarter, with companies maintaining positive spending plans.

AUD/USD edged down 0.1% to 0.6607, reversing prior session gains after the Reserve Bank of Australia held interest rates steady. The pause follows three cuts earlier in 2025, as the RBA weighs rising inflation risks against signs of slowing economic momentum.

USD/CNY remained largely unchanged at 7.1196.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

UBS has kept a cautious view on palladium in its latest metals outlook, released Tuesday, pointing to the metal’s significant reliance on conventional car technologies.

The bank emphasized that more than 80% of palladium demand comes from its use in catalytic converters for internal combustion engine (ICE) vehicles, concentrating the market’s exposure to a single sector.

While the adoption of electric vehicles outside China has been slower than anticipated, UBS underlined that the broader trend toward phasing out ICEs remains firmly on track.

Analysts at the bank anticipate that this gradual shift away from traditional engines will eventually create a structural surplus in the palladium market. UBS indicated that this imbalance is expected to emerge “at some point over the coming years,” without pinpointing an exact timeframe for the shift.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Oil prices stabilized on Wednesday following two days of declines, as investors evaluated OPEC+ intentions for a larger production increase next month alongside the economic uncertainty triggered by the U.S. government shutdown.

Brent crude for December delivery edged up 25 cents to $66.28 a barrel by 06:43 GMT, while U.S. West Texas Intermediate crude rose 22 cents to $62.59 a barrel. Both benchmarks had posted declines of more than 3% on Monday—the steepest daily losses since August 1—and fell another 1.5% on Tuesday.

“The weakness stems largely from supply-side developments, with OPEC gradually reviving production … adding to market concerns over a potential supply overhang,” said Sugandha Sachdeva, founder of SS WealthStreet, a research firm based in New Delhi.

According to sources familiar with the discussions, OPEC+—the coalition of oil-exporting nations—could approve a production increase of up to 500,000 barrels per day (bpd) in November, triple October’s hike, as Saudi Arabia seeks to reclaim market share. Eight members of the group, representing about half of global oil output, are reportedly considering boosts of 274,000 to 411,000 bpd, while a third source indicated the rise could reach 500,000 bpd.

OPEC clarified in a post on X that media reports suggesting a 500,000 bpd output increase were misleading.

Further pressure on crude came from an industry report showing U.S. oil inventories fell, while gasoline and distillate stocks climbed last week. Market sources citing American Petroleum Institute data estimated that crude stocks dropped by 3.67 million barrels in the week ending September 26. Gasoline inventories rose 1.3 million barrels, and distillate stocks increased by 3 million barrels.

“While U.S. crude inventories have been on a declining trend, the pace of drawdowns has slowed, tempering bullish sentiment,” Sachdeva added.

The U.S. government shut down much of its operations on Wednesday due to deep partisan divisions, preventing Congress and the White House from agreeing on a funding plan. Agencies warned that this 15th shutdown since 1981 would delay the release of a closely watched September jobs report, slow air travel, suspend scientific research, halt pay for U.S. troops, and furlough 750,000 federal workers at a daily cost of $400 million.

Meanwhile, data from Asia—the world’s largest oil-consuming region—added to concerns about fuel demand. Surveys released Wednesday indicated that manufacturing activity contracted across most major economies in September, pressured by weaker Chinese demand, softer U.S. growth, and looming tariffs.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Gold prices surged to record levels in Asian trading on Wednesday, following the start of a U.S. government shutdown after Congress failed to approve new federal funding.

Spot gold reached an all-time high of $2,875.53 per ounce, while December gold futures peaked at $3,903.45/oz. By 00:22 ET (04:22 GMT), spot prices had eased slightly to $3,862.22 per ounce.

U.S. Government Halts Operations Amid Congressional Deadlock

The shutdown came into effect at midnight Tuesday (0400 GMT Wednesday), after a last-minute spending bill supported by Republicans failed to pass the Senate due to continued opposition from Democrats.

The political impasse in Washington has fueled demand for safe-haven assets, sending gold to a string of record highs this week and pressuring the U.S. dollar.

Other precious metals have also benefited from the safe-haven demand, with platinum and silver reaching 12- and 14-year peaks, respectively. On Wednesday, spot silver rose 0.9% to $47.0525/oz, while spot platinum dipped 0.3% to $1,572.18/oz.

Industrial metals, which had seen strong gains earlier in the week, experienced slight declines on Wednesday. London Metal Exchange copper futures fell 0.1% to $10,278.10 per ton, while COMEX copper futures dropped 0.7% to $4.8450.

Labor Market Data Faces Possible Delays

The government shutdown is likely to delay the release of key labor market statistics, including the September nonfarm payrolls report scheduled for Friday. The report, a closely watched indicator, provides insight into U.S. employment trends, which influenced the Federal Reserve’s September rate cut.

“Dallas Fed President Lorie Logan flagged heightened caution over future interest rate cuts, stating that the labor market will need to deteriorate further for the central bank to consider more rate cuts,” analysts noted.

A prolonged shutdown could also disrupt subsequent economic data releases, adding uncertainty for markets as investors weigh the outlook for U.S. growth and monetary policy.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

U.S. stock futures plunged Wednesday as the federal government shut down, driving investors toward safe-haven gold amid concerns over potential economic impacts. Meanwhile, Nike delivered encouraging news as its first-quarter results signaled early success for its turnaround strategy.

Government Shutdown Hits U.S. Operations

Much of the U.S. government ceased operations Wednesday after a last-minute spending bill supported by Republicans failed to pass the Senate due to Democratic opposition.

This marks the 15th shutdown since 1981 and the second under President Donald Trump, who has threatened additional federal layoffs. Tens of thousands of workers have already left this year, and over 150,000 federal employees are expected to exit payrolls this week following buyouts—the largest exodus in 80 years.

There is no clear solution in sight, raising concerns that this shutdown could last longer than previous budget-related closures due to deep political divisions. The longest shutdown in U.S. history spanned 35 days from December 2018 to January 2019 during Trump’s first term over border security.

The shutdown is expected to delay the release of Friday’s crucial September employment report, disrupt air travel, suspend scientific research, withhold pay for U.S. troops, and furlough 750,000 federal workers at a daily cost of $400 million.

U.S. Futures Fall

U.S. stock futures declined as investors worried about growth prospects. At 03:00 ET, S&P 500 futures fell 55 points (0.8%), Nasdaq 100 futures dropped 155 points (0.6%), and Dow futures fell 295 points (0.6%).

Major indices had closed higher Tuesday despite the looming shutdown, with September providing an unusually strong trading month. The S&P 500 logged a 7.8% gain for Q3.

Historically, Wall Street has often risen during shutdowns, but this episode is more worrisome as investors remain concerned about a slowing labor market and the Trump administration’s plans to shrink federal payrolls significantly.

The ADP private payroll report, scheduled later in the session, will be closely watched, while Conagra Brands (NYSE:CAG) leads corporate earnings releases.

Payroll Report Likely Delayed

A key consequence of the shutdown is the probable delay of Friday’s nonfarm payroll report for September, a critical gauge of the labor market. Investors are looking to this report for insight into labor conditions, which influenced the Fed’s September rate cut.

Doubts about further cuts emerged after hawkish Fed commentary. Dallas Fed President Lorie Logan stated Tuesday that “the labor market will need to deteriorate further for the central bank to consider more rate cuts.”

Data released Tuesday showed U.S. job openings rose slightly in August while hiring slowed, signaling a softening labor market that might allow the Fed one more cut this month. The ADP National Employment Report, expected later, is projected to show a modest increase of 50,000 private-sector jobs.

Nike Impresses with Q1 Growth

Nike (NYSE:NKE) gained attention after posting stronger-than-expected first-quarter results, signaling progress in CEO Elliott Hill’s turnaround plan despite challenges in China and tariff pressures.

The company reported quarterly profits above Wall Street expectations, boosted by stronger wholesale revenue, pushing shares up over 3% in after-hours trading.

Nike revealed that tariffs could cost roughly $1.5 billion this year, higher than the $1 billion projected earlier, due to production in countries like Vietnam affected by U.S. tariffs.

“This quarter Nike drove progress through our Win Now actions in our priority areas of North America, Wholesale, and Running,” Hill said.

Gold Hits New Records

Gold prices soared to record highs as the government shutdown intensified safe-haven demand. Spot gold reached $2,875.53 an ounce, while December gold futures peaked at $3,903.45/oz.

The yellow metal has set multiple records this week as U.S. political deadlock pressured the dollar, prompting investors to favor safe assets. Other precious metals have also surged, with platinum and silver hitting 12- and 14-year highs, respectively.

Oil Prices Stabilize

Oil steadied after two days of declines amid considerations of OPEC+ production plans and the shutdown’s potential economic impact. Brent futures rose 0.4% to $66.29/barrel, and WTI gained 3% to $62.58/barrel.

Earlier this week, both benchmarks fell sharply—over 3% Monday and another 1.5% Tuesday. OPEC+ could boost output by up to 500,000 barrels per day in November, three times the October increase, Reuters reported.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.