"The FTSE 100 opened up nearly half a percent to 9,272, closing in all-time highs. 2025 stock market favourites Fresnillo and BAE Systems rose to the top of the index, while Shell and BP did some of the heavy lifting and ABF and IAG bounced a bit after both were sold yesterday. Elsewhere in London, Trainline raised guidance for the year and THG posted a 35% drop in earnings in the first half."
"Oracle jumped 36% and Broadcom rose 10% as it closes in on Nvidia, which rose almost 4% - those selling the means to AI glory rose, while the big spenders like Amazon and Meta declined. Apple fell over 3% after its product launch event - shares often fall after these and usually it's just a speedbump. The massive gain for Oracle sent its co-founder, Larry Ellison, to overtake Elon Musk as the world's richest person, on paper at least."
"US producer price inflation was lower than expected, declining 0.1% MoM, the first decline in four months and contrasting with the +0.7% rise in July. Spread that out over the two and it's still quite hot. The real test is today's consumer inflation reading. The CPI is expected to rise from 2.7% in July to 2.9% in August, which would be the highest reading since January. The core is expected to hit 3.1%."
UK equities advanced, with the FTSE 100 opening nearly 0.5% higher at 9,272 and trading near all-time highs. Fresnillo and BAE Systems led gains while Shell and BP provided notable support; ABF and IAG recovered after prior selling. Trainline raised its guidance and THG reported a 35% decline in first-half earnings. Gold's rally paused and oil eased slightly after recent gains. In the US, the S&P 500 and Nasdaq hit records while the Dow fell; Oracle and Broadcom surged and Apple dipped after a product launch. US producer prices fell 0.1% month-on-month, but CPI and core inflation are expected to rise, keeping central banks on alert.
Read at London Business News | Londonlovesbusiness.com
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