UKWEIR.LSE▲impact 4
FTSE 100 hits new intraday high ahead of US rate decision
The FTSE 100 set a new intraday record of 10,951.06 before closing up 0.3% at 10,908.41 on Wednesday, buoyed by strong earnings and rising oil prices. BP and Shell gained 3.4% and 2.8% respectively as Brent crude surged back above 90 dollars a barrel after President Trump vowed retaliation for an Iranian attack on US bases in Jordan. Among blue-chip stocks, Weir Group jumped 8.7% on robust first-half results, Sage Group rose 8.8% after an upbeat trading update, and Reckitt Benckiser added 4.3% as it announced a share buyback and reported second-quarter like-for-like sales growth of 4.7%, beating consensus. Standard Chartered climbed 2.9% after a record first-half performance and a 1 billion dollar buyback, while on the FTSE 250, Greggs soared 18% on half-year profit and sales that exceeded expectations. Attention now turns to the US Federal Reserve’s interest rate decision, with markets pricing a 34% chance of a hike amid limited forward guidance from new Fed chair Kevin Warsh.
GRG.LSE · Demand · Positive Greggs soared 18% on half-year profit and sales that exceeded expectations, indicating strong end-customer demand.
RKT.LSE · Capital · Positive Reckitt Benckiser announced a share buyback and reported second-quarter like-for-like sales growth of 4.7%, beating consensus.
SGE.LSE · Demand · Positive Sage Group rose 8.8% after an upbeat trading update, indicating strong demand for its products/services.
STAN.LSE · Capital · Positive Record first-half performance and $1 billion buyback announced.
WEIR.LSE · Capital · Positive Robust first-half results drove 8.7% share price jump.
BP.LSE · Geopolitics · Positive Brent crude surged above $90/barrel after President Trump vowed retaliation for an Iranian attack, boosting oil prices and BP's stock.