UK’s flat-fee online investment platform
Reuters and independent sources report JD Wetherspoon’s profit outlook has worsened amid higher food, labour and energy costs, as like-for-like sales rise modestly but profit guidance remains cautious. The update follows World Cup-driven sales boosts and a challenging cost environment.
Banks have reported stronger half-year profits amid sustained higher interest rates, with Barclays, Lloyds, and NatWest expected to post gains. Analysts foresee continued earnings growth as the sector navigates mortgage stress and potential increases in bad debt provisions. The sector remains buoyant but faces scrutiny over tax policy and regulatory expectations.
NatWest and Lloyds report higher half-year profits, with NatWest posting 4.3bn pre-tax profit and Lloyds following with 4.3bn, as AI and cost-cutting drive efficiency and expansion in wealth management and digital services.
JD Sports has downgraded its full-year pre-tax profit guidance to 700-800 million pounds as consumer budgets tighten. On the US and UK fronts, sales are under pressure from inflation and discounting, while UK outdoor and football kit sales provide some offset.
Shein has floated on the Hong Kong stock exchange at HK$48.56 a share, valuing the company at about US$26.3bn and raising roughly HK$13.6bn. Shares plunged as much as 10% on open before recovering to close marginally below the offer price. The IPO follows failed plans to list in New York and London and rising trade and regulatory costs that have squeezed margins.
The London market sees notable shifts as easyJet joins the FTSE 100 after a private equity bid boosts valuations, while easyJet's removal from the index could signal broader capital outflows. Bodycote is taken private by Veritas, and Gamma Communications along with Capricorn face delisting, reflecting a wave of deals that remove firms from London’s public markets.
Saudi Arabia has closed its 1,200km East–West oil pipeline after a drone attack Riyadh has blamed on Iranian-backed militias in Iraq. Repairs could take three to five weeks, analysts say the closure risks 2.6–4 million barrels per day of exports and has pushed Brent above $105–$108 a barrel while Houthi gains in the Red Sea further tighten routes.
Next has raised full-year profit guidance for the fourth time this year, citing strong half-year performance aided by unusually warm summers. Morrisons reports robust quarterly trading, while Jigsaw showcases momentum, with online growth and international expansion under a turnaround plan.
UK housebuilders have surged as ministers reveal a new equity-loan plan to aid first-time buyers, with income and price caps shaping investor enthusiasm. Analysts say the scheme could re-rate the sector, though practical uptake remains uncertain.