London’s new listings mini-boom gathered pace today when digital bank Shawbrook said it is planning an IPO.
Last week saw a burst of activity, including an intention to float from tinned tuna company Princes and the first day of dealing from Beauty Tech.
On the corporate front, Aston Martin Lagonda cut earnings guidance amid the ongoing impact of US tariffs.
FTSE 100 Live Monday
- Aston Martin cuts guidance
- Japan stocks surge on new PM
- Lender confirms IPO plan
Market update: FTSE 100 off record as Mondi slides 17%, French stocks fall
10:19 , Graeme EvansA dramatic session for investors in Japan and France today contrasted with a sedate FTSE 100 index performance after Mondi warned on its 2025 outlook.
The Nikkei 225 jumped 4.75% to a record level after Sanae Takaichi’s surprise leadership win in Japan fuelled expectations of fiscal stimulus and a slower pace of interest rate hikes.
The yen slumped around 1.5% against both the US dollar and the euro, its biggest one-day drop in five months.
UBS Global Wealth Management: “Based on her recent remarks, a large- scale stimulus package aimed at boosting consumption and investment is likely to be announced by the end of this year.”
In contrast, the Cac40 in Paris fell by 1.9% after France’s Prime Minister resigned just weeks after taking office.
XTB research director Kathleen Brooks said: “This is a fast-moving situation, but once again, France is rudderless politically speaking, and this is also weighing on the stock market.”
The biggest decliners included those in the luxury sector, with Hermes and LVMH down by about 2%.
Brooks added: “While the political situation may not directly impact these companies, the fact that France’s largest and most prestigious companies are getting sold off today is a sign that investors are offloading French assets on a broad basis, and the risk is that this causes contagion elsewhere.”
The FTSE 100 index fell from Friday’s peak with a decline of 16.89 points to 9474.36.
BP rose 7.5p to 431.25p and Shell lifted 28p to 2730.5p after a smaller-than-expected production increase by OPEC+ boosted the price of Brent Crude by 1.5% to $65.53 a barrel.
On the fallers board, renewed speculation concerning a potential banking industry levy in next month’s Budget contributed to Barclays falling 5.65p at 379.7p and NatWest dipping 7.6p to 540.4p.
Packaging and paper giant Mondi slid 17% or 181p to to a decade low of 866p after it said it expected challenging trading conditions to persist over the rest of 2025.
It said demand-side confidence was still fragile, with key markets in oversupply and current selling prices lower than third quarter average selling prices.
Third quarter earnings fell to 223 million euros (£193.5 million) from 274 million in the previous period.
Stock market sentiment was also impacted by the latest downgrade to guidance by luxury car maker Aston Martin Lagonda.
Its shares skidded 8% or 6.2p to 75.1p in the FTSE 250 index after it said current year wholesale volumes will fall by a “mid-high digit percentage.”
It expects a loss for this year greater than the weakest City forecast at £110 million.
As well as President Trump’s tariffs on car imports the marque has been hit by new taxes on luxury cars in China.
It also blamed the UK government for not providing “proactive support...to protect the interests of small volume manufacturers, like Aston Martin.”
The company has ordered a review of future cost and capital expenditures as it continues to target an improvement in profitability and cash flow in 2026.
The shares were priced at 1900p in the 2018 initial public offering (IPO), when the company was valued at more than £4 billion.
New listings have been in short supply during 2025, with London currently 23rd in the global rankings.
Last week saw a burst of activity, including an intention to float from tinned tuna company Princes and the first day of dealings from Beauty Tech.
There was a further boost today when digital bank Shawbrook said it is planning an IPO in a move that is expected to value the business near to £2 billion.
Mondi shares slide amid tough trading conditions
09:02 , Graeme EvansFTSE 100-listed Mondi shares today fell 14% after the packaging and paper group reported a decline in third quarter earnings to 223 million euros (£193.5 million).
Mondi highlighted subdued demand and lower paper selling prices as earnings fell from 290 million euros in the first quarter and 274 million euros in the second.
It added: “Challenging trading conditions are expected to persist for the remainder of this year as demand-side confidence remains fragile, key markets remain in oversupply and current selling prices are lower than third quarter average selling prices.”
Mondi shares fell 148.4p to a decade-low of 898.6p.
Oil giants support FTSE 100, Aston Martin shares down 6%
08:33 , Graeme EvansEnergy stocks have rallied after a smaller-than-expected production increase by OPEC+ lifted the price of Brent Crude by 1.5% to $65.53 a barrel.
BP rose 1.5% or 6.55p to 430.3p, while Shell improved by 24p to 2726.5p ahead of its third quarter trading update due tomorrow.
Heavyweight stock AstraZeneca also rose 118p to 12,768p as the FTSE 100 index stayed near Friday’s close at 9492.37.
GSK shares fell 27.5p to 1601p and NatWest eased 5.2p to 542.8p near the bottom of the FTSE 100. Packaging firm Mondi fell 14% or 146.6p to 900.4p after posting a third quarter trading update.
In the FTSE 250 index, Aston Martin Lagonda shares fell 6% or 5.3p to 76p after the luxury car maker downgraded full-year guidance.
Japan stocks surge on stimulus package hopes
08:18 , Graeme EvansThe Nikkei 225 jumped 4.75% to a record level after Sanae Takaichi’s surprise leadership win in Japan fuelled expectations of fiscal stimulus.
The outlook for later interest rate cuts meant the yen slumped around 1.5% against both the US dollar and the euro, its biggest one-day drop in five months.
UBS Global Wealth Management: “Based on her recent remarks, a large- scale stimulus package aimed at boosting consumption and investment is likely to be announced by the end of this year.
“She is also likely to advocate for a considerable increase in spending on national security and income tax cuts with cash benefits in the medium to longer term.
“With the Liberal Democratic Party still a minority in Japan’s parliament, whether her policies can be implemented fully remains to be seen.”
Aston Martin cuts guidance, launches cost review
07:52 , Graeme EvansLuxury car maker Aston Martin Lagonda today cut full-year earnings guidance amid the ongoing impact of tariffs.
The Warwickshire-based firm now expects an underlying loss greater than the low point of City forecasts at £110 million.
The group made 1430 wholesale deliveries in the third quarter, below the previous guidance of being broadly similar to the prior year period’s 1641.
The shortfall was due to weaker than expected demand in both North America, with the continuing tariff impact, and Asia Pacific.
It expects 150 deliveries of its new Valhalla electric supercar in the current quarter, behind prior expectations as a result of a timing impact.
The company said: “The global macroeconomic environment facing the industry remains challenging.
“This includes uncertainties over the economic impact from U.S. tariffs and the implementation of the quota mechanism, changes to China's ultra-luxury car taxes and the increased potential for supply chain pressures, particularly following the recent cyber incident at a major UK automotive manufacturer.”
The company has launched an immediate review of future cost and capital expenditures, including the future product cycle plan in response to market and regulatory dynamics.
Shawbrook confirms IPO plan
07:13 , Graeme EvansThe London IPO market received another boost today after specialist lender Shawbrook announced its intention to pursue a main market listing.
The move follows Friday’s confirmation of an IPO by tinned tuna business Princes Group and the start of trading for shares in Beauty Tech Group.
Digital banking platform Shawbrook reported a loan book of £17 billion at the end of June, including small business and real estate lending.
Shawbrook chief executive Marcelino Castrillo said: “We have achieved real scale, and our current markets are large and growing, supported by attractive tailwinds.
“We also see a significant opportunity to bring Shawbrook's offering to new types of customers. The entrepreneurial spirit that has driven our growth remains at the heart of how we operate and we have ambitious plans for the future.
“An IPO would mark an important milestone in our journey.”
Nikkei 225 surges 5%, oil price higher
07:03 , Graeme EvansThe Nikkei 225 has surged by 5% after stocks in Japan were boosted by the ruling party’s appointment of pro-stimulus politician Sanae Takaichi as the country’s next prime minister.
The FTSE 100 index set for a flat start to the session after closing 0.7% or 63.52 points higher at a record 9491.25 on Friday.
The Dow Jones Industrial Average rose 0.5%, whereas the S&P 500 ended marginally higher and the Nasdaq Composite fell 0.3%.
All three benchmarks rose by more than 1% across last week, despite the shut down of US government operations.
Brent Crude today rose by more than 1% to $65.41 a barrel after OPEC+ announced a smaller-than-expected production increase of 137,000 barrels.
