The FTSE 100 opened slightly higher, up 6 points to 9,660, amid improved global risk sentiment due to the US-China trade talks. London’s index closed at a record high of 9,553.87 the day before, therefore creating a positive outlook for the coming sessions.
Lenders lead the morning optimism. Standard Chartered climbed 3.19% to £1,470.50, extending its rally on the back of strong Asia-focused growth prospects. Lloyds Banking Group advanced 2.31% to £87.84, while St. James’s Place rose 2.24% to £1,369.
HSBC gained 2.4% after reporting third-quarter profit before tax of $7.3 billion, down 14% YoY but above analyst expectations.
The bank reaffirmed guidance for a better return on tangible equity, fueled by higher net interest income and resilient wealth-management revenue in Hong Kong.
Barclays also made headlines, unveiling an $800 million deal to acquire Best Egg, a US consumer-loan platform, marking another step in its trans-Atlantic expansion strategy.
Polar Capital Technology Trust rose 2.33% to £460.50 amid renewed appetite for tech exposure after Wall Street’s overnight surge.
Luxury retailer Burberry Group added 2.24% to £1,325.50, rebounding from recent losses as sterling eased.
Commodity producers weighed on the index. Endeavour Mining slumped 3.65% to £2,908 and Fresnillo fell 3.52% to £2,028 as gold and silver prices retreated.
Rio Tinto slipped 1.24%, while Ashtead Group edged 0.93% lower. Anglo American reaffirmed its 2025 copper-output guidance and highlighted progress in restructuring its De Beers diamond business. Stronger grades at its Quellaveco and Los Bronces mines helped offset weaker production at Collahuasi.
Specialist lender Shawbrook Group is poised to price its long-awaited London IPO at £3.70 per share, reportedly multiple times oversubscribed, implying a potential £2 billion valuation, one of the city’s largest homegrown listings in years.
In the consumer space, beer-and-cider maker C&C Group reported a 4% revenue drop for the half-year to August, missing forecasts due to lower volumes in wine and spirits and the loss of Budweiser Brewing Group contracts in Ireland. The company maintained full-year guidance and said it is searching for a new CFO.
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Adding to the cautiously positive tone, the British Retail Consortium said food prices fell 0.4% MoM, the steepest decline since 2020, led by lower sugar and confectionery costs. Analysts said the drop could ease consumer inflation pressures ahead of the key festive season.
Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index both dipped 0.6%. Wall Street stocks closed at record highs last night, fueled by renewed hopes for a US-China trade deal. The Dow Jones advanced 0.7% to 47,544, the S&P 500 added 1.2% to 6,875, and the Nasdaq jumped 1.9% to 23,637.
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