Latest news with #TweshaDikshit
Mint
02-07-2025
- Business
- Mint
UK shares mixed as investors assess corporate news, dealmaking
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) FTSE 100 adds 0.3%. FTSE 250 falls 0.5% Spectris rises after accepting improved takeover offer from KKR Bytes Technology slumps after profit warning Greggs falls after saying profits could dip National Grid slips with failures leading to Heathrow fire London's blue-chip stock index edged higher and the midcap index fell on Wednesday as investors assessed a mixed bag of corporate news, including a media report that AstraZeneca is moving its listing to the U.S. The blue-chip FTSE 100 added 0.2% while the domestically focussed midcap index fell 0.5% by 0930 GMT. FTSE's most valuable company AstraZeneca is considering moving its listing to the U.S., the Times reported on Thursday, citing multiple sources. 'The CEO seems frustrated at the lack of financial support to open new laboratories and manufacturing facilities in Europe and might see a full U.S. stock listing as a stepping stone to receiving better treatment Stateside," said Dan Coatsworth, investment analyst at AJ Bell. The UK stock market has lost out on major initial public offerings in recent months including money transfer firm Wise and online fast fashion retailer Shein, with Brexit-related challenges pressuring UK market valuations. Gains on Wednesday were led by industrial metals and mining stocks tracking higher metal prices. Glencore rose 3.2% and Ferrexpo and Antofagasta were both up 2.3%. Oil and gas companies gained 1.6%, with heavyweights BP and Shell adding 2.2% and 1% each. Among individual stocks, Spectris gained 4.6% after the firm agreed to a debt-inclusive 4.7 billion pounds ($6.46 billion) offer from KKR over Advent's rival offer. Bytes Technology slumped 26% to the bottom of the midcap after warning of lower operating profit for the first half of 2026. British fast food chain Greggs fell 14.1% on saying its annual operating profit could dip as a heatwave in the UK discouraged customers from eating out. Restaurant chain operator SSP Group climbed to the top of the midcap index, rising almost 8% after filing for Indian IPO of airport lounge operator Travel Food Services. (Reporting by Twesha Dikshit; Editing by Sahal Muhammed)
Mint
30-06-2025
- Business
- Mint
London shares mixed; midcaps eye best quarter in four years
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) FTSE 100 and FTSE 250 flat Aerospace and defence stocks add sectoral gains WH Smith falls after revising high street business sale terms June 30(Reuters) - London's stock indexes were mixed on Monday as a relief rally driven by easing geopolitical tensions and U.S. tariffs fizzled out, while midcaps were set for their largest quarterly gain in more than four years. Both the blue-chip FTSE 100 and the FTSE 250 were flat by 1100 GMT. Last week, the indexes advanced after a truce between Iran and Israel, increased prospects of a dovish Federal Reserve, and some easing of tariff pressures. The midcap index is set for its best quarterly showing since October 2020. Domestically focused stocks have been relatively insulated from tariff disruptions, as the UK remains the only country with a trade agreement with the United States. The FTSE 100 has gained 7.7% so far this year, already exceeding its annual gains recorded since 2021. Aerospace and defence stocks were up 1.2%, boosted by a 1.7% gain in Rolls-Royce, after the U.S.- UK trade deal came into effect and removed the 10% tariff on aircraft engines and parts. Investors are closely monitoring further U.S. trade agreements ahead of former President Trump's July deadline. Data showed Britain's economy grew at its fastest pace in a year during the first quarter of 2025; however, analysts expect growth to slow for the rest of the year. Among individual stocks, WH Smith fell 2.7% to the bottom of the FTSE 250, after the company said it would receive less cash than expected from the sale of its UK high street business to Hobbycraft owner Modella Capital. Pharmaceutical giant GSK was down marginally after a U.S. senator said Friday she was launching an investigation into the company's discontinuation of a widely used asthma inhaler for children. Gas owner Centrica was among the FTSE 100's worst performers after J.P. Morgan downgraded its stock. (Reporting by Twesha Dikshit; Editing by Tasim Zahid)
Mint
27-06-2025
- Business
- Mint
TSX hits record high as investors assess economic data
(Updates with morning prices) By Twesha Dikshit and Sukriti Gupta June 27 (Reuters) - Canada's main stock index inched up to an all-time high on Friday, but losses in heavyweight mining shares kept gains in check, while investors assessed domestic and U.S. economic data. The S&P/TSX composite index was up 0.1% at 26,790.18 points, surpassing Tuesday's record intraday high of 26,780.19. Healthcare stocks led the sectoral gains with a 1.7% rise. Bausch Health Companies, the parent company of contact lens maker Bausch Lomb, rose 3.1%. On the flip side, mining shares dropped 2.8%, tracking gold that fell to a near one-month low. Gold miners were among the top losers with Lundin Gold falling 7% to the bottom of the main index. Kinross Gold lost 5.7%. Economic data on Friday showed Canada's economy contracted in April on a monthly basis as sectors exposed to tariffs negated a boost from services. The GDP figures are "being driven by weaker exports to the US ... I don't think that's being reflected in the market though," said Philip Petursson, chief investment strategist at IG Wealth Management. "It raises the potential for further interest rate cuts." In the U.S., consumer spending unexpectedly fell in May, while monthly inflation increases remained moderate. Among individual stocks, TC Energy rose 3.3% after the pipeline operator started collecting tolls for the Southeast Gateway natural gas pipeline in Mexico. Miner Wesdome Gold finished its acquisition of Angus Gold. Shares of Wesdome Gold were down 2.9%. (Reporting by Twesha Dikshit and Sukriti Gupta in Bengaluru; Editing by Sahal Muhammed)
Mint
25-06-2025
- Business
- Mint
UK shares flat as investors weigh corporate earnings and middle east truce
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) FTSE 100 flat, FTSE 250 inches up 0.1% Babcock gains after upgrading outlook on defence spending boost Burberry rises 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 Wednesday as investors digested a batch of corporate earnings and kept a cautious eye on the shaky truce between Israel 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-week 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 were "promising." Markets were now focused on a fresh set of corporate results. Defence 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 defence spending. Fellow defence names 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. Defence stocks were further buoyed as Britain announced plans to acquire twelve F-35A fighter jets capable of deploying tactical nuclear weapons during the NATO summit, where member nations committed to increased defence expenditure. Meanwhile, gains on the sectoral charts were led by the personal goods index, with heavyweight Burberry rising 5.6% after brokerage HSBC raised the luxury brand's target price. Halford's gave up early declines and was last up 1% as traders were focused on the bicycle and car products retailer's underlying pre-tax profit that surpassed expectations. On the flipside, Wealth manager Liontrust Asset Management fell 7.7% to the bottom of the small-cap index after reporting a drop in annual profit due to tariff-related market volatility. Labour market data showed cooling conditions , with pay growth lagging inflation and job vacancies dropping - metrics central to policy decisions. On Tuesday, Bank of England Governor Andrew Bailey pointed to signs of a softer labour market and said interest rates were 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)
Yahoo
13-06-2025
- Business
- Yahoo
Adobe shares slide as investors skeptical of quicker AI-adoption returns
By Twesha Dikshit (Reuters) -Adobe's shares dropped 7% in early trading on Friday as investors' concern that the company's AI adoption into its software tools could take longer to fetch returns, overshadowed a raised annual revenue forecast. "(We see) increasing concerns surrounding competitive pressures and a longer time horizon to reach notable AI monetization," said Angelo Zino, senior equity analyst at CFRA Research. The San Jose, California-based creative software veteran is relied on by creatives for its tools including Photoshop and Premiere Pro. The company said in April that it would add AI models from OpenAI and Google to Firefly, its generative AI tool. The tool allows users to create and edit images and videos for commercial purposes through basic text prompts without facing copyright challenges. "While guidance was raised and management remains positive around demand generation, it feels like it will take more time to prove out these (AI) initiatives and quiet concerns of competition around GenAI," RBC analysts said in a note. Adobe now expects full-year 2025 revenue between $23.50 billion and $23.60 billion, up from its prior estimates of $23.30 billion to $23.55 billion. At least five brokerages cut their price target on the Adobe stock following the second-quarter results. Including session's losses, the stock has fallen around 13% so far this year. The company's 12-month forward price-to-earnings ratio stands at 18.88, compared with Autodesk's 29.16.
