Tag: Computacenter

  • FTSE 100 Opens Lower as Oil Nears $100; Computacenter Profit Forecast Lifts Sentiment

    FTSE 100 Opens Lower as Oil Nears $100; Computacenter Profit Forecast Lifts Sentiment

    The FTSE 100 opened 16.06 points lower at 10,806.07 on Tuesday as investors awaited fresh direction from the European Central Bank’s interest rate decision and upcoming US inflation figures. Brent crude futures rose 1.75% to $98.70 per barrel, while US West Texas Intermediate (WTI) advanced 2.89% to $94.12 per barrel.

    Sterling traded at $1.3538 on Tuesday morning, up from $1.3516 at the London equities close on Monday. Against the euro, it slipped to €1.1624 from €1.1638.

    Gainers and Losers

    On the upside, Computacenter climbed 4.64% to 5,860p after upgrading its profit forecast for the second time this year. Auto Trader Group advanced 3.60% to 523.60p, while Antofagasta gained 1.51% to 3,957p. Croda International rose 1.50% to 3,312p, BP added 1.43% to 554.20p, and Glencore increased 1.42% to 612.40p.

    On the downside, HSBC Holdings fell 1.43% to 1,556.40p. Next declined 1.16% to 15,320p, while Whitbread dropped 1.02% to 2,324p. Games Workshop Group slipped 0.71% to 18,270p, Lion Finance Group lost 0.67% to 13,420p, and AstraZeneca edged 0.60% lower to 11,970p.

    Oil Nears $100 Per Barrel

    Oil prices have surged, nearing the $100 per barrel mark. Brent crude gained 1.75% to reach its highest level since July. Reports that Iran-backed Houthis attacked a Saudi energy plant have added fresh pressure on investors. Earlier today, Iran threatened new sanctions on tankers attempting to travel through the Strait of Hormuz.

    Computacenter Increases Profit Forecast

    Computacenter upgraded its profit forecast for the second time this year after its order backlog quadrupled in the last six months. The IT supplier expects to bring in no less than £380 million in pretax profit for the year, well above the previous consensus of £341 million. The order backlog reached a record £9.3 billion, up 323% year-on-year. The group, promoted to the FTSE 100 in the June reshuffle, hiked its dividend by nearly 15% to 27.1p.

    Funding Circle Lifts Profit Forecast

    The boss of Funding Circle has laid out plans for departure as the fintech lifted its profit forecast for the year ahead. Lisa Jacobs, who has led the firm since 2022, will step down as chief executive by no later than September 2027. Revenue jumped 50% to £138 million after loan originations swelled 43% to just over £1 billion. The firm expects profit to reach over £40 million for the year, upgraded from previous expectations of £35 million. Funding Circle also announced a fresh £25 million buyback, bringing total capital returned via buybacks to £100 million since March 2024.

    Global Market View

    In the US, Wall Street was closed on Monday for the Labor Day holiday. In Asia on Tuesday, Tokyo’s Nikkei 225 fell 1.7% to 65,269.33, while China’s Shanghai Composite rose 0.2%. Hong Kong’s Hang Seng declined 0.32%, and South Korea’s Kospi declined 0.58%. In India, both the Nifty 50 and the Sensex fell by 0.54% and 0.59%, respectively.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks involve risk. Always conduct your own research before investing.

  • FTSE 100 Slips to 10,441 as AstraZeneca Tumbles on Drug Trial Failure; Brent Drops 1.23%

    FTSE 100 Slips to 10,441 as AstraZeneca Tumbles on Drug Trial Failure; Brent Drops 1.23%

    Market Overview

    The FTSE 100 fell 47.61 points to trade at 10,441.44 on Thursday, dragged by a sharp decline in AstraZeneca following disappointing late-stage trial results for its experimental heart drug. Escalating tensions in the Middle East also weighed on sentiment. Meanwhile, Brent crude futures dropped 1.23% to $76.06 per barrel, while US West Texas Intermediate (WTI) lost 1.14% to settle at $72.68.

    Sterling strengthened against the dollar, quoted at $1.3406 early Thursday, up from $1.3358 at the previous close. However, sterling weakened against the euro, trading at €1.1721 compared to €1.1722 a day earlier.

    Gainers and Losers

    Top Gainers:

    • Computacenter surged 10.88% to £4,586 after forecasting a sharp profit increase for the first half of 2026.
    • Antofagasta advanced 3.97% to £3,667.
    • Glencore rose 3.72% to £508.90.
    • Anglo American gained 3.37% to £3,495.
    • Standard Chartered added 2.65% to £2,090.
    • Endeavour Mining climbed 2.33% to £3,645.

    Top Losers:

    • AstraZeneca plunged 9.65% to £12,866 after its nerve disease drug Wainua failed a late-stage trial.
    • Coca-Cola Europacific Partners slipped 1.25% to £7,890.
    • British American Tobacco fell 1.97% to £4,520.
    • Unilever dropped 1.23% to £4,582.50.
    • London Stock Exchange Group declined 0.47% to £8,820.
    • Reckitt Benckiser eased 0.83% to £5,024.

    AstraZeneca Stock Tumbles on Drug Trial Failure

    Pharma heavyweight AstraZeneca saw shares fall 8.4% in early trade to £13,043.48 after the company announced that its nerve disease drug Wainua, developed in partnership with US-based Ionis, failed to meet its primary endpoint in a late-stage trial. The drug was intended to reduce cardiovascular deaths and recurring heart problems in patients with a type of heart disease characterized by protein buildup that disrupts blood pumping.

    Brooks Macdonald Ends Fees on Uninvested Cash

    Investment manager Brooks Macdonald has scrapped cash fees on discretionary portfolios, effective 1 July, amid intensifying regulatory scrutiny from the Financial Conduct Authority (FCA) over so-called ‘double-dipping’ practices. The move follows a similar decision by Rathbones, which acknowledged that halting such fees would reduce its pre-tax profit by £9 million. Brooks Macdonald also reported a turnaround in net inflows for the financial year, reaching £226 million, compared with outflows of £396 million the prior year.

    Computacenter Expects First-Half Profit to Double

    Computacenter said it expects adjusted profit before tax for the first half of 2026 to be approximately double the £81.5 million recorded in the same period last year. The IT services firm attributed the upbeat outlook to stronger-than-expected second-quarter performance and indicated that full-year results would comfortably beat market expectations, though it remained cautious about a tougher comparative in the second half.

    Global Market Update

    In the US, the Dow Jones fell 1.1% and the S&P 500 declined 0.3%, while a rally in select AI stocks helped the Nasdaq advance 0.2%. In Asia on Thursday, Japan’s Nikkei 225 rose 1.51% to 67,830.79, China’s Shanghai Composite gained 1.1%, Hong Kong’s Hang Seng fell 0.69%, and Australia’s S&P/ASX 200 slipped 0.26%. India’s Nifty 50 and Sensex declined 0.71% and 0.79%, respectively.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any investment decisions.