FTSE 100 Live: Index Dips as Kingfisher, Lloyds and NatWest Lead Early Gainers; Domino’s CEO Exits

The FTSE 100 opened lower on Tuesday, dipping 5 points to 9534.9 despite a strong performance from Wall Street, where expectations of a December US interest rate cut boosted sentiment. 

Gainers and Losers

Kingfisher topped the gainers list with a 5.20% rise to £307.60, followed by Lloyds Banking Group, up 2.40% to £89.48, and NatWest Group with 2.37% increase to £596.80. 

Barclays also added 2.28% to £409.75, while Anglo American advanced 1.97% to £2,789 and Antofagasta jumped 1.39% to £2,630.

On the downside, Intertek Group fell 4.23% to £4,664, while Beazley plunged 10.64% to £768.50 after a disappointing update. 

AstraZeneca declined 0.27% to £13,896, Diploma dipped 0.56% to £5,360, Admiral Group fell 0.95% to £3,114, and Spirax Group also traded 0.74% lower to £6,695, reflecting broader sectoral pressure.

Kingfisher Upgrades Profit Forecast

Home improvement retailer Kingfisher, which owns B&Q, upgraded its full-year profit guidance to £540-£570 million, up from the previous top-end estimate of £540 million. 

The company cited strong progress in strategic initiatives and disciplined cost control, although it flagged macro uncertainties ahead of the UK Autumn Budget.

Domino’s CEO Steps Down

Domino’s Pizza Group announced that CEO Andrew Rennie has stepped down with immediate effect, leaving the company without a permanent successor. 

Rennie, who led the FTSE 250-listed firm for just over two years, exits “by mutual agreement,” the board said. Domino’s shares have struggled this year, falling more than 45% amid cost pressures and a challenging consumer environment. 

Chair Ian Bull emphasised that the company’s strong brand and resilient model still offer meaningful growth opportunities.

AO World Raises Profit Guidance

Online electronics retailer AO World lifted its full-year profit outlook to the upper end of its £45-£50 million range. 

Revenue for the six months to 30 September rose 14% to £586 million, while pre-tax profit grew 10% to £18 million, despite wage and insurance-related cost pressures. 

CEO John Roberts said the company’s turnaround continues to bear fruit, citing improved operational discipline.

EasyJet’s Profits Boosted by Holiday Demand

Low-cost carrier EasyJet reported an 18% rise in annual headline profit to £703 million, helped by the strength of its holiday division, which hit its £250 million profit target early. 

Forward bookings remain encouraging, with first-quarter capacity 81% sold. However, the airline said geopolitical headwinds and route-maturity dynamics remain challenges for its near-term performance.

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Market Outlook

The Nasdaq jumped 2.2% and the S&P 500 climbed 1.6% while European markets remain cautious. Rising gilt yields ahead of the UK Budget are acting as a warning signal for investors. 

Analysts say the Chancellor must strike a careful balance between fiscal stability and voter expectations in Wednesday’s announcement.