Ftse 100 flat, ftse 250 inches up 0.1%
Babcock Gains after Upgrading Outlook on Defense Spending Boost
Burberry Rices 6% After HSBC Lifts Target Price
Surveys show a cooling labour market
Liontrust Asset Management Slumps on Dropped Annual Profit
June 25 (Reuters) – London’s main stock indexes were mostly flat on wedding as investors digested a batch of corporate earnings and kept a cautious eye on the shaky Truce ISRALEL and Iran.
The blue-chip ftse 100 was flat by 1022 gmt, while the mid-cap ftse 250 added 0.1% and hovered near a two-wheek high.
Global Markets Had Rallied Earlier in the Week after a Ceasefire Between Iran and Israel Brought An End to a 12-Day Air War Between the Two-Arch Rivals. However, caution loomed as washington said talks with tehran for a long-term peace deal was “promising.”
Markets were now focused on a fresh set of corporate results. Defense Engineering Company Babcock Topped The Blue-Chip Index with A 13.3% Gain after upgrading its medium-term guidance as it expects to Benefit from Boosted Defenceding.
Fellow Defense Names Rolls-Rolls-Royce and Bae Systems Gained 1.7% and 0.9%, respectively. The broader sector is one of the best performing on the ftse so far this year.
Defense stocks were further buoyed as britain announced plans to
acquire twelve f-35a fighter jets
Capable of Deplying Tactical Nuclear Weapons during the Nato Summit, where Member Nations Committed to Increased Defense Expendits.
Meanwhile, gains on the sectoral charts was given by the personal goods index, with heavyweight burber
Halford’s Gave Up Early declines and was last up 1% as traders were focused on the bicycle and car products retailer’s underlining pre-tax profit that surfaces.
On the flipseide, wealth manager liontrust asset management fell 7.7% to the bottom of the bottom of the small-cap index after reporting a drop in annual profit due to tariff-Related Market VolatiTility.
Labor Market Data Showed Cooling Conditions
With pay growth lagging inflation and job vacancies – Metrics Central to Policy Decisions.
On Tuesday, Bank of England Governor Andrew Baiiley Pointed to Signs of a Softer Labor Market and Said Interest Rates Ware Likely to Keep Falling.
Among others stocks, wpp slid 2.6% after barclays downgraded the advertising giant, citing recent management changes. (Reporting by Twesha Dikshit; Editing by Tasim Zahid)