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(Sharecast News) - London stocks were set to dip at the open on Thursday as investors continued to mull US-Iran tensions and ahead of PMI readings for the UK and eurozone.
The FTSE 100 was called to open around 13 points lower. At 0720 BST, Brent crude was down 1.4% at $94.35 a barrel while West Texas Intermediate was 1.1% lower at $89.98.
US President Donald Trump told reporters at the Oval Office on Wednesday that the US was prepared to launch another attack on Iran at "any time".
"We took out all of the new equipment that they tried to build along the Strait of Hormuz - some defensive, some offensive," he said. "It was a very heavy attack last night, and we're prepared to do another one any time we want."
Trump also said that a renewed campaign would not last "too long".
In corporate news, Hilton Foods lifted its full-year profit guidance as it hailed a good interim performance from core meat and fresh prepared food, but weakness in the Foppen business.
It now expects full-year adjusted profit before tax from continuing operations of between £66m and £71m, up from previous guidance of £60m to £65m and reflecting the removal of Dalco losses and favourable FX.
Grafton Group held on to its full-year earnings guidance after a solid first half, in which adjusted operating profits rose 8.2% year-on-year to £98.5m.
The European construction products distributor said its first-half performance, which generated 6.7% higher revenues at £1.34bn, was supported by strong underlying trading and acquisitions in Iberia and Ireland.
The firm still expects full-year adjusted operating profit to come in between £190m and £200m, despite ongoing challenges in Britain and Northern Europe.
Investment manager M&G reported a robust firsthalf performance, with adjusted operating profits rising 15% to £435m, supported by £2.4bn of net inflows from open business and continued strength across its asset management division.
It also delivered £1.7bn of bulk purchase annuity flows by the end of August, marking rapid progress in the newly launched proposition. However, M&G recorded an IFRS loss after tax of £165m, compared with a £248m profit last year, after £551m of adverse shortterm investment movements linked partly to proposed changes to groundrent legislation.