FTSE 100 Live: Index rises 4.76 points to 9,232.87, Rolls-Royce Stock climbs £14 to £1,143.5

The FTSE 100 opened Friday broadly flat after Wall Street benchmarks set new records overnight. A combination of corporate news, low consumer sentiment, and government borrowing figures above expectations moulded investor sentiment..

Market Movers: FTSE 100 and Stock Highlights

The FTSE 100 index was trading 4.76 points higher at 9,232.87, with several heavyweight stocks leading modest gains. Next advanced £120 to £11,695, recovering some ground after falling 3.6% in the previous session. 

Rolls-Royce climbed £14 to £1,143.5 after Goldman Sachs raised its price target to £1,290, citing potential upside in the aviation group.

Mining stocks also provided support, with Endeavour Mining rebounding 3% (£86) to £2,778 after Thursday’s losses, while Fresnillo rose £68 to £2,232. 

On the downside, the London Stock Exchange retreated 3% (£258) to £8,378, while JD Sports Fashion slipped £1.8 to £90.2.

Croda International gained £75 (2.78%) to £2,776, GSK was up £21 (1.43%) to £1,494, and Anglo American improved by £36 (1.43%) to £2,562, highlighting strength in pharmaceuticals and mining.

FTSE 250 Spotlight: Spire Healthcare

Shares of Spire Healthcare surged 9% to £236.5 after the private hospital operator confirmed it was evaluating strategic options, including a potential sale. 

The company, which operates 38 hospitals and over 50 clinics across the UK, emphasised that discussions were preliminary and no firm offers had been received. Investors welcomed the announcement, as the market has long argued Spire’s property and assets are undervalued.

Economic Data: Borrowing and Consumer Confidence

Fresh data added pressure to the government’s fiscal outlook. The UK borrowed £18 billion in August, about £3.5 billion more than a year earlier and higher than City forecasts of £13 billion. 

Borrowing for the financial year so far reached £83.8 billion, which is £11.4 billion above the OBR’s March forecast. Public debt now stands at 96.4% of GDP, levels not seen since the early 1960s.

At the same time, consumer confidence slipped again. GfK’s September survey showed the headline index fell two points to -19, with notable declines in both personal finance measures and savings intentions. 

With tax increases expected in the November budget, sentiment toward the economy weakened sharply, with the index dropping to -32 from -11 in June 2024.

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Global and Currency Outlook

Wall Street’s momentum carried into Europe after the Dow Jones rose 0.3%, the S&P 500 gained 0.5%, and the Nasdaq advanced 0.9%, each touching new highs. Traders continue to price in further US rate cuts this year following the Federal Reserve’s dovish tone.

In currencies, the pound weakened 0.3% to $1.351, reflecting concerns over public finances, while Brent crude edged to $67.37 a barrel.