FTSE 100 Live 12 March: Index higher ahead of US inflation, Legal & General shares fall on results

Yahoo

12-03-2025

08:29 , Graeme Evans
The FTSE 100 index is 13.94 points higher at 8509.93, driven by miners Glencore and Anglo American after their shares rose more than 1%.
The recent selling of airline stocks continued in the wake of this week's downgrades to guidance by US carriers Delta Airlines and American Airlines, with British Airways owner IAG down another 4.4p to 287.1p.
Legal & General shares fell 1.9p to 243p, despite including a new £500 million buyback alongside its in-line annual results.
In the FTSE 250 index, the corporate merchandise firm 4imprint fell 16% or 791p to 4000p after it reported a small drop in order intake in the first two months of the year.
Chair Paul Moody added: 'It is possible that market conditions, including potential tariff impacts, may continue to influence demand in 2025.
'From our experience, however, as business sentiment improves, demand for promotional products increases as does our ability to gain market share.'
Balfour Beatty rose 4.4p to 438p as the final set of full-year results under the leadership of Leo Quinn included a 9% increase in dividend to 12.5p a share.
07:47 , Graeme Evans
Wall Street futures are pointing to a resilient session later, although that could change given the release of US inflation figures before the opening bell.
Another strong print in the week before the next Federal Reserve policy meeting would weigh on rate cut hopes at a time when tariffs are already fuelling the outlook for inflation.
Economists are looking for the headline rate of CPI to moderate to 2.9% after last month's surprise increase to 3%.
Julien Lafargue, chief market strategist at Barclays Private Bank, said: 'A higher-than-expected reading could fuel the stagflation narrative while a weaker-than-expected print could cement recession fears.
'What the market really needs at this point is better visibility on growth rather than on inflation.'
07:21 , Graeme Evans
Legal & General today lifted its dividend by 5% and announced a £500 million shares buyback as part of plans to return 40% of its value within three years.
The distributions were revealed alongside results showing that the retirement and asset management firm increased 2024 core operating profit by 6% to £1.6 billion.
Chief executive António Simões said: '2024 has been a year of significant strategic progress and strong financial performance.
'We delivered 6% growth in our core operating profit and core EPS, alongside excellent new business volumes, while investing for the future.'
07:06 , Graeme Evans
US benchmarks last night closed lower for another session as economic uncertainty caused by Donald Trump's tariffs plan continues to impact Wall Street.
The Dow Jones Industrial Average closed down 1.1%, the S&P 500 fell 0.8% and the Nasdaq Composite reversed 0.2% after losing 4% on Monday.
In London, the FTSE 100 index closed at its lowest level since mid-January after falling for a sixth session in a row - down by more than 100 points or 1.2% to 8496.
Futures trading points to a rise of about 20 points at this morning's opening bell.