The FTSE 100 opened 12 points higher at 10,474 on Thursday, buoyed by optimism surrounding US-Iran diplomatic talks and a decline in oil prices that pressured energy giants BP and Shell. Brent crude futures dropped 1.32% to $72.70 per barrel, while US West Texas Intermediate (WTI) fell 0.97% to $69.66.
Gainers & Losers
3i Group surged 9.11% to £2,480, Barratt Redrow advanced 4.70% to £294.20, and SSE climbed 2.81% to £2,414. Aberdeen Group gained 2.67% to £238.20, Persimmon rose 2.47% to £1,119.50, and Polar Capital Technology Trust added 2.42% to £719.50.
On the downside, London Stock Exchange Group fell 2.34% to £8,086, Endeavour Mining dropped 2.03% to £3,678, Experian slipped 1.88% to £2,503, and Fresnillo declined 1.44% to £2,733. Shell eased 0.58% to £2,929.50, while BP edged lower by 0.83% to £476.05.
Halfords Returns to Profit
Halfords posted a pre-tax profit of £43.6 million for the year to April, beating analyst forecasts of £40.3 million and reversing last year’s £30 million loss. Revenue grew 5% to £1.8 billion, with autocentre operations seeing like-for-like sales jump 6% to £740 million.
3i Reports Slower Growth for Action
3i Group noted that its largest portfolio company, European discount retailer Action, delivered like-for-like sales growth of 3.3% in the year to 21 June, down from 3.6% in the first quarter and below the full-year guidance of 4%–5%. Despite the slowdown, the company remains on track for a good second quarter.
Serco Revenue Expected to Rise
Serco anticipates a 3% revenue increase to around £2.5 billion, with underlying operating profit climbing to roughly £155 million as margins improve above 6%. CEO Anthony Kirby highlighted the company’s global footprint and sector diversity as core strengths amid geopolitical tensions. Shares were flat in early trading.
Global Market Roundup
In the US, the tech-heavy Nasdaq fell 0.4% for a third straight session, the S&P 500 slipped 0.1%, but the Dow Jones gained 0.4%. South Korea’s Kospi surged 6.3% above 9,000 points, led by SK Hynix (up 15.6%) and Samsung Electronics (up 4.7%). Japan’s Nikkei 225 rose 4.6% to 72,403.2 points, Taiwan’s TAIEX added 0.4%, and India’s Nifty 50 and Sensex both advanced 0.7%.
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