Name Symbol Market Type
FTSE 100 Index FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  64.75 0.85% 7,674.56 7,689.67 7,609.81 7,609.81 0 16:35:30

LONDON MARKETS: FTSE 100 Marches Higher Amid A Flurry Of Profit Warnings

26/09/2019 12:49pm

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By Barbara Kollmeyer, MarketWatch

International Consolidated Airlines, Imperial Brands, Pearson slump

The U.K.'s FTSE 100 kept pace with stronger European markets on Thursday, with oil and mining stocks leading the gainers, though a flurry of profit warnings weighed on a handful of companies.

The FTSE 100 led gains across regional European markets with a 1.1% gain to 7373.87 after the British pound dropped to $1.2307 from $1.2351 on Wednesday, proving a boost to U.K. exporters.

London stocks followed European equities higher as investors grew more optimistic about a U.S.-China trade deal after upbeat comments from U.S. President Donald Trump and a limited trade deal between the U.S. and Japan was signed Wednesday. Also underpinning positive sentiment, a spokesman from China's Ministry of Commerce, Gao Feng, said Chinese buyers have "completed deals to buy soybeans and pork of considerable scale," the Associated Press reported (

However, investors were keeping one eye on U.S. House Speaker Nancy Pelosi's formal launch Tuesday of an impeachment inquiry into President Trump.

Across stocks, Pearson PLC (PSON.LN) plunged 18% after the U.K. media group warned of weaker than expected third-quarter performance ( at its U.S. higher-education unit, and said expects full-year adjusted operating profit to come in at the bottom of guidance.

And shares of Imperial Brands PLC (IMB.LN) tumbled 10% after the tobacco company warned of weaker revenue ( due to challenges in its next-generation products (NGP) market in the U.S. The U.S. Food and Drug Administration has been cracking down on e-cigarettes following a recent outbreak of severe lung disease that appears to be related to vaping.

Shares of International Consolidated Airlines Group S.A. (IAG.LN) fell 3% on Thursday after the airline group said it expects adjusted operating profit for 2019 to be below that of 2018 due to recent strikes at British Airways.


(END) Dow Jones Newswires

September 26, 2019 07:34 ET (11:34 GMT)

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