UK subscription-based online investment service, backing 1995, now part of Aberdeen
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.
Savers have boosted cash ISA deposits ahead of planned reforms that would cut the quarterly cash ISA allowance and tax cash within Stocks and Shares ISAs. Independent and Guardian coverage shows a mixed reception: ministers say changes aim to boost investing, while critics warn of added complexity and a stealth tax on cautious savers.
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.
Analysts say Saudi Arabia's East-West pipeline remains out of service after drone strikes blamed on Iranian-backed militias. Repairs could take weeks, tightening Middle East oil flows and pushing Brent above $105 a barrel as Houthis widen disruption along Bab el‑Mandeb and Hormuz.