Live – Last updated at 08:46
FTSE 100 Live Wednesday
- Barclays profit beats hopes
- GSK reassures on tariffs
- Aston Martin restricts vehicles entering the U.S. market
Aston Martin restricts U.S. imports, adheres to guidelines
08:44 , Graeme EvansAston Martin Lagonda stated today that they are restricting their imports into the U.S. due to the ambiguity surrounding new tariff regulations.
Despite generating approximately 30% of its sales from the U.S., the automobile manufacturer maintained its forecast for 2025 as it progresses with its restructuring strategy.
The company recorded a pretax loss of £79.6 million for the initial three months, which is lower than last year’s figure of £138.9 million. Overall revenues decreased by 13%, totaling £233.9 million for this period.
CEO Adrian Hallmark stated, "We are closely tracking the changing U.S. tariff landscape and have temporarily restricted imports into the U.S., meanwhile utilizing the inventory maintained by our American dealers."
Shares increased by 0.75p to reach 70.65p, after declining by about one-third earlier this year because of concerns regarding the possible effects of tariffs.
Read more here
Sanderson Design falls into the red, tariffs impact orders
08:29 , Graeme EvansLuxury wallpaper and furnishing company Sanderson Design reported a pretax loss of £13.9 million for the fiscal year ending in January.
The AIM listed company, which has a royal warrant from King Charles, posted a £10.4 million profit in the previous year.
Revenue decreased by 7.6%, totaling £100.4 million, amid "an ongoing difficult consumer climate." The company has reduced the dividend from 3.5p to 1.5p.
Although the firm doesn't anticipate significant direct effects from the tariffs at present, the ongoing circumstances have "affected orders across all regions."
The share price dropped 1.5p to 41.5p.
Read more here
FTSE 100 advances as Barclays and Smith & Nephew soar following positive updates
08:17 , Graeme EvansThe FTSE 100 index has gained an additional 16.38 points, reaching 8479.84, after increasing for 12 consecutive sessions, marking its longest streak in eight years.
Barclays lifted 8.6p to 306.6p after first quarter profit growth of 19% to £2.7 billion came in well ahead of expectations.
Matt Britzman from Hargreaves Lansdown commented, "Barclays has easily surpassed expectations, largely due to its investment banking division capitalizing on the market fluctuations during the first quarter."
Overall, the trends throughout the portfolio appear robust, with steady U.S. credit card charge-offs alongside minimal defaults on both UK credit cards and loans.
In addition to other gainers within the FTSE 100 index, Smith & Nephew saw an increase of 6%, climbing 59.5 pence to reach 1055.5 pence following predictions for substantial revenue expansion along with a notable boost in trading profit margins.
GlaxoSmithKline climbed 14.1p to reach 1446.1p, and Taylor Wimpey gained half a penny to stand at 119p following their initial quarterly reports. In contrast, an operational statement from Glencore caused its stock price to drop by 6.7p, settling at 257.2p.
Home values restrained due to stamp duty effects
07:53 , Graeme EvansHome values decreased by an average of 0.6% from one month to the next in April, coinciding with the reduction in stamp duty relief.
The annual rate of increase in house prices decelerated to 3.4% in April from 3.9% in March, according to Nationwide, pushing the typical home value up to £270,752 last month.
Robert Gardner, the chief economist, stated: "The slowdown in house price increases was anticipated, considering the modifications to stamp duty implemented at the beginning of this month."
Initial signs indicate that there was a considerable increase in transactions in March, as purchasers accelerated their buying to evade extra tax liabilities.
Read more here
Taylor Wimpey remains optimistic due to strong customer interest; maintains previous guidance.
07:43 , Graeme EvansHome builder Taylor Wimpey reaffirmed its annual forecast following reports of "strong demand" during the spring sales period.
For the year ending on April 27th, the company's net private sales rate per outlet per week stood at 0.77, an increase from 0.74 recorded in 2024. Additionally, the cancellation rate climbed to 16%, up from 13% previously.
The aggregate value of the order book was £2.3 billion, indicating a rise to 8,153 homes from 7,742 in 2024. The firm is presently active across 201 locations.
The statement continued, "Despite concerns over recent economic fluctuations and persistent affordability issues faced by certain customers, notably those residing in southern England, we continue to observe strong customer engagement."
Mortgage lending continues to be strong, featuring a good selection of products offered at competitive rates, with lenders still dedicated to the UK housing market.
GSK assures on tariff effects, supports 2025 goals
07:18 , Graeme EvansToday, GSK informed its investors that it is adequately prepared to address the possible financial effects of industry-specific tariffs, if these are put into place.
This points out various ways to reduce risks within the supply chain along with steps to boost productivity.
As the firm announced its first-quarter earnings, it revealed a 5% increase in underlying operating profit to reach £2.5 billion.
It anticipates a turnover growth of 3% to 5% for the year 2025, along with an increase in core operating profits ranging from 6% to 8%.
CEO Emma Walmsley stated: "GSK keeps making significant advancements, showcasing the excellence, robustness, and durability of our product lineup."
Within our biggest division, Specialty Medicines, we saw substantial sales growth during the quarter alongside ongoing advancements in research and development. We have achieved two out of the five anticipated FDA approvals for products this year and also acquired an exciting new asset focused on oncology.
Barclays supports 2025/26 goals; Q1 earnings increase 19%
07:09 , Graeme EvansToday, Barclays announced a higher-than-predicted increase of 19%, with their pre-tax profits reaching £2.7 billion. The company also expressed confidence in achieving its financial and operational goals set for 2025 and 2026.
CEO C.S. Venkatakrishnan stated that the firm is ideally positioned to assist both customers and clients and "achieve robust risk-adjusted returns across various macroeconomic conditions."
In the first quarter, Barclays' investment banking revenue rose by 16%, whereas their US consumer bank segment saw an improvement of 1% due to an increase in credit card balances.
The UK's revenue rose by 14%, attributed to the implementation of structural hedges against interest rate fluctuations and the addition of Tesco Bank.
Read more here
FTSE 100 set for steady start, oil price weakness continues
07:01 , Graeme EvansThe FTSE 100 index is set to open broadly unchanged, having added 0.5% yesterday to log their 12th consecutive win .
The longest-running period for eight years has brought the main league to within 5% of its peak figure of 8871 in early March.
On Wall Street, the Dow Jones Industrial Average climbed by 0.8%, whereas the S&P 500 index and the Nasdaq Composite both saw an increase of 0.6%.
Asian markets are operating within a tight band, while the cost of Brent Crude has dipped an additional 1% to stand at $62.51 per barrel.
0 Comments