Check out our new Timeline feature to give you the latest updates on all the stocks you follow. Clickhere to set up your Timeline.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksMarstons Share News (MARS)

Share Price Information for Marstons (MARS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 40.75
Bid: 40.70
Ask: 40.95
Change: -0.35 (-0.85%)
Spread: 0.25 (0.614%)
Open: 40.75
High: 41.35
Low: 40.50
Prev. Close: 41.10
MARS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET CLOSE: Stocks decline as Middle East conflict unnerves

Thu, 03rd Oct 2024 16:56

(Alliance News) - London's FTSE 100 ended lower on Thursday, with a boost from higher oil prices and a dovish Bank of England not enough to shake off investor nerves on unfolding events in the Middle East.

The FTSE 100 index closed down 8.34 points, 0.1%, at 8,282.52. The FTSE 250 gave back 43.72 points, 0.2%, at 20,740.06, and the AIM All-Share closed down 0.46 of a point, 0.1%, at 733.84

The Cboe UK 100 lost 0.2% at 828.15, the Cboe UK 250 closed down 0.3% at 18,182.08, and the Cboe Small Companies fell 0.4% at 16,713.55.

In European equities on Thursday, the CAC 40 in Paris ended down 1.3%, while the DAX 40 in Frankfurt fell 0.8%.

The pound was quoted at USD1.3110 at the time of the London equities close on Thursday, dropping sharply from USD1.3271 on Wednesday. The euro stood at USD1.1013, down against USD1.1046. Against the yen, the dollar was trading at JPY146.72, up compared to JPY146.06.

"In short, tensions are simmering, and so are oil prices. Traders are on high alert, waiting for Israel's next move, and the dollar's fate is tied to how the US data and Fed messaging stack up against the unfolding geopolitical drama," SPI Asset Management analyst Stephen Innes commented.

US jobs data is released on Friday at 1330 BST. That number is expected to show the pace of hiring eased slightly to 140,000 last month from 142,000 in August.

SPI's Innes added: "The stronger-than-expected ADP employment report only bolstered the newfound confidence among dollar bulls as the greenback flexes its muscles. Unless there’s a significant downside shock in upcoming economic numbers, the dollar could keep benefiting from catching up to the hawkish repricing of the Fed curve, realigning with the Fed's steady 25bp-per-meeting guidance. For now, the dollar is firmly in the driver’s seat, but surprises are always around the corner in this market."

In New York, the Dow Jones Industrial Average was down 0.6%, the S&P 500 0.3% lower, and the Nasdaq Composite down 0.2%.

Brent oil was quoted at USD76.56 a barrel late on Thursday afternoon, up from USD74.05 late Wednesday.

US President Joe Biden said he was discussing possible Israeli strikes on Iranian oil sites in retaliation for Tehran's missile barrage on Israel, in comments that quickly sent oil prices spiking Thursday.

"We're discussing that. I think that would be a little... anyway," Biden told reporters at the White House when asked if he supported Israel striking Iran's oil facilities.

Oil majors Shell and BP rose 1.7% and 0.6%.

Bank of England Governor Andrew Bailey said he was watching developments in the Middle East "extremely closely" and that there were limits to what could be done to prevent the cost of crude rising if things "got really bad".

In an interview with the Guardian, Bailey also held out the prospect of the bank becoming a "bit more aggressive" in cutting interest rates provided the news on inflation continued to be good. "I think the economy has come through the shocks of the last five years better than many of us feared," he added. "So there's a base there to develop."

Deutsche Bank analyst Shreyas Gopal commented: "One simple interpretation of the governor's comments is that it could now take an upside surprise to inflation for the [Monetary Policy Committee] not to cut rates back-to-back in November and December. Previously the guidance suggested that the burden of proof was on inflation to surprise to the downside for such a shift away from the "gradual" pace of easing. Consistent with that interpretation, the rates market has notably increased its pricing for the December meeting. It's the largest dovish repricing of this particular meeting in over six months."

Housebuilders, recently at the mercy of robust interest rates, ended higher on the expectation of faster BoE cuts. Vistry added 1.7% in London, while Persimmon rose 1.4%.

Tesco rose 2.5%. The Welwyn Garden City, England-based grocer now expects to deliver around GBP2.9 billion in retail adjusted operating profit for the financial year ending in February, up from previous guidance of "at least GBP2.8 billion" before. This will compare to GBP2.76 billion in financial 2024.

Pretax profit from continuing operations rose 20% to GBP1.39 billion in the 26 weeks to August 24 from GBP1.16 billion a year prior. Revenue from continuing operations climbed 3.5% to GBP31.46 billion from GBP30.40 billion.

Tesco also lifted its interim dividend 10% to 4.25p from 3.85p.

"We are in good shape, with volume growth delivering strong financial performance," said Chief Executive Ken Murphy.

Among London-listed mid-caps, Telecom Plus rose 2.4%. The provider of bundled household utility services said it was looking ahead to its full-year results with "high confidence" and reaffirms full-year guidance based on a strong first half of trading.

Telecom Plus said it remains confident in its previous guidance, and expects customer growth between 12-14% for the full year, as well as adjusted pretax profit between GBP124 million and GBP128 million. This will be a 23-27% increase from the pretax profit of GBP100.5 million reported for the year ended March 31.

At the other end of the FTSE 250, luxury goods firm Burberry fell 3.9%, as a recent boost to the stock from China stimulus measures gave way to more cautious trade.

It was a similar story for luxury retail in Paris, with Kering losing 2.2%.

Back in London, pub firm Marston's surged 10%. JPMorgan placed the stock on 'positive catalyst watch'.

Gold was quoted at USD2,651.03 an ounce on Thursday, up slightly against USD2,650.17 on Wednesday.

Before Friday afternoon's US jobs data, the economic calendar has a UK construction purchasing managers' index at 0930 BST, after a eurozone reading at 0830.

The local corporate calendar has full-year results from pub company JD Wetherspoon.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
21 Jan 2025 17:12

Earnings, rate cut bets lift UK stocks

Sterling dips as UK jobless rate rises

*

Read more
21 Jan 2025 12:04

LONDON MARKET MIDDAY: Stocks mixed as Donald Trump sows confusion

(Alliance News) - Stock prices in London were mostly higher at midday on Tuesday with the Bank of England remaining likely to cut rates in February, despite rising earnings.

Read more
21 Jan 2025 11:06

IN BRIEF: Marston's confident on profit after strong festive pub trade

Marston's PLC - Wolverhampton, England-based based operator of 1,334 pubs across UK - Expects to meet market expectations for GBP68.3 million in underlying pretax profit for financial 2025, which runs to the end of September, after a "particularly strong key festive trading period". This would be up 62% from GBP42.1 million in financial 2024. In the 16 weeks that ended on Saturday, total retail sales in managed and partnership pubs was up 3.0% on year, driven by both food and drink sales, Marston's says. Within this, like-for-like sales were up 2.0%, as the core Christmas period offset poor weather in November and January. In the two weeks from December 22 to January 4, LFL sales were up 11% on year, including "record" sales on Christmas Day itself. Marston's will publish its half-year results on May 13.

Read more
21 Jan 2025 10:35

Marston's sales growth slowed by harsh UK weather

Analysts expect Marston's to raise prices in March

*

Read more
21 Jan 2025 10:15

Marston's delivers 'strong growth' over key festive trading period

(Sharecast News) - Pub landlord Marston's said on Tuesday that it had delivered "strong growth" over the key festive trading period, with continued confidence in delivering FY25 market expectations.

Read more
14 Jan 2025 12:17

UK earnings, trading statements calendar - next 7 days

Read more
3 Dec 2024 11:43

Marston's confident for Christmas and future as swings to profit

(Alliance News) - Marston's PLC on Tuesday said Christmas bookings were ahead of last year amid high levels of reservations, as it highlighted confidence in its outlook despite some pressure costs from the UK budget.

Read more
3 Dec 2024 10:21

SMALL-CAP WINNERS & LOSERS: Genel slumps on legal blow; Marston's up

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.

Read more
3 Dec 2024 09:33

Marston's upbeat as full-year profits rise

(Sharecast News) - Pub group Marston's reported a rise in full-year profit and revenue on Tuesday as it struck an upbeat note about the outlook.

Read more
3 Dec 2024 09:07

LONDON MARKET OPEN: Strong start before US data; earnings boost 250s

(Alliance News) - Stock prices in London opened higher on Tuesday, supported by travel stocks, oil majors and miners, and for now shaking off worries about possible tariffs during the Trump-era and any nerves ahead of US jobs data.

Read more
29 Nov 2024 09:37

JP Morgan toasts European leisure sector

(Sharecast News) - JP Morgan has adopted a positive position on European hotel and gaming stocks, including upgrading France's Accor and reiterating its 'overweight' rating on Marston's.

Read more
19 Nov 2024 09:36

LONDON BROKER RATINGS: Shore Capital says "hold" Intertek

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Read more
30 Oct 2024 14:14

UK BUDGET: Reeves delivers win for gambling stocks and cheer for pubs

(Alliance News) - Shares in betting firms leapt after Wednesday's budget contained no rumoured tax changes, while a cut in beer duty provided cheer to pub operators.

Read more
16 Oct 2024 11:09

Marston's predicts market-beating growth as unveils new strategy

(Alliance News) - Marston's PLC on Wednesday announced that it expects revenue growth "ahead of the market", as it prepared to present an updated strategy ahead of its Capital Markets Day.

Read more
9 Oct 2024 08:44

Marston's cheers lower debt as trading holds up despite wet weather

(Alliance News) - Marston's PLC on Wednesday backed full-year guidance despite growth slowing in the fourth quarter of the financial year.

Read more

Free Investment Tools

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.