The FTSE 100 opened 83.53 points higher at 10,772 on Thursday, following the Federal Reserve’s first interest rate hike in three years. Investors now await the Bank of England’s policy decision. Brent crude futures fell 1.68% to $104 per barrel, while West Texas Intermediate dropped 1.30% to $101.10.
Sterling traded at $1.3382 early Thursday, down from $1.3449 at the previous London close. Against the euro, the pound rose to €1.1672 from €1.1658.
Gainers & Losers
On the upside, Next climbed 2.03% to 14,855p after lifting its profit target. Rolls-Royce Holdings advanced 2.00% to 1,469.40p, Sage Group added 1.93% to 1,031p, and RELX rose 1.77% to 2,588p. Kingfisher gained 1.73% to 305.80p, and Endeavour Mining increased 1.73% to 4,588p.
On the downside, Marks & Spencer fell 2.05% to 363.50p. Reckitt Benckiser declined 0.71% to 5,020p, Lion Finance Group dropped 0.58% to 13,620p, and Smith & Nephew slipped 0.34% to 1,038.50p. Howden Joinery lost 0.20% to 758p, and Intertek Group edged 0.09% lower to 5,875p.
Drax Raises Profit Outlook
British power generator Drax said it now expects full-year adjusted core profit at the top end of market consensus — between £680 million and £711 million (about $910-$952 million), up from an earlier forecast of £665 million. The company credited its generation assets for helping balance the UK grid during the summer heatwave, adding 0.3 terawatt-hours of contracted power sales at an average price of £175.9 per megawatt-hour.
Next Lifts Profit Target
Next raised its profit target after better-than-expected first-half trading. Retail sales across the group jumped 9% in the six months to July, and pre-tax profit rose 10.5% to £569 million. The retailer now expects full-year pre-tax profit of £1.26 billion, citing higher sales and cost savings in warehouse operations.
Beauty Tech Group Raises Profit Outlook
Beauty Tech Group, owner of CurrentBody Skin and ZIIP Beauty, lifted its profit outlook after first-half earnings more than tripled. Revenue surged 44% to £79.7 million and profit jumped to £17.5 million from £5 million. The company now expects full-year earnings of at least £48.5 million and maintained its revenue forecast of at least £170 million. It also announced a share buyback of up to £20 million.
Global Market View
In the U.S., Dow Jones futures advanced 0.64%, S&P 500 futures rose 0.61%, and Nasdaq-100 futures added 0.71%. In Asia, Tokyo’s Nikkei 225 gained 0.33% to 64,136.25, while Shanghai Composite fell 0.41%. Hong Kong’s Hang Seng dropped 0.61%, and South Korea’s Kospi edged down 0.04%. In India, the Nifty 50 and Sensex both rose about 0.5%.
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