UK market rises as investors evaluate results, await US inflation data

FTSE Futures

FTSE 100 increased by 0.4%, while the domestically focused mid-cap index also saw a rise of 0.4% On Thursday, London stocks saw an increase, fueled by advancements in the industrial and energy sectors. Investors are presently assessing corporate earnings as they await a crucial inflation report from the U.S. set to be released later today. On that day, consumer inflation data is expected to be released in the U.S. Experts expect that prices might have risen in August; however, this is not expected to hinder the much-anticipated rate cut from the Federal Reserve next week.

  • Aerospace and defence companies saw a rise of 1.6%.
  • BAE Systems saw a rise of 4%, Chemring Group was up by 2%, Babcock gained 1.4%, and Avon added 5.2%.
  • Precious metal miners advanced 0.9%, with Fresnillo rising 2% and Hochschild Mining up 1.7%.
  • Energy stocks increased by 0.6%, driven by strong performances from major players.
  • Shell is up 0.5%, while BP has increased by 0.9%.
  • Heavyweight bank has seen an increase in stocks, rising by 0.3%.
  • The industrial support services sector has experienced a decline of 0.5%.
  • Industrial miners faced a decline.
  • Anglo American decreasing by 0.8% and Glencore falling by 1.2%.

Consumer staples stocks including Tesco, Associated British Foods, and British American Tobacco have also shown an upward trend. Conversely, personal goods stocks experienced a decline of 0.6%, with Burberry decreasing by 0.9%. Experian experienced a decline of 1.4%, while Hays saw a decrease of 2.4%. Among other stocks, Compass Group rose 2.7% following Deutsche Bank’s upgrade of the food catering firm’s rating to “buy” from “hold”.

Ticketing firm Trainline experienced a notable rise of 8.9%, topping the mid-cap index, after announcing that it expects to report annual adjusted core profit at the upper end of its forecast range. Gambling tech firm has opened a new tab, reaching a record high and showing an increase of 6.4% following favorable first-half results. In August, a survey revealed that house prices saw significant declines, marking the largest drop in over a year and a half, due to a reduction in new buyer interest.