FTSE 100 Live Tuesday
- Shein files for HK listing - FT
- Unite reservation rate falls
- Begbies Traynor earnings rise
Market update: FTSE 100 steady, Glencore and IAG advance
09:48 , Graeme EvansAsia stock markets closed higher and the FTSE 100 index today held its ground after President Trump issued letters warning of higher tariffs from 1 August.
Japan and South Korea received notice that they will face 25% levies but the EU has not received a letter, fuelling speculation that an agreement is close.
Sentiment also benefited after Trump said the deadline for the imposition of tariffs was “not 100% firm” and dependent on the state of trade talks.
IG said: “Memories of past reversals and ongoing negotiations — including fragile truces with China and thin deals with Britain and Vietnam — tempered market reaction.”
Tokyo’s Nikkei 225 rose 0.3% and the Hang Seng index lifted by 1.1%, while the FTSE 100 index edged 8.25 points higher at 8814.78.
Among the biggest top flight risers, miner Glencore continued its recent recovery by adding 7.6p to 305.5p and British Airways owner IAG lifted 4p to 358.8p.
Ladbrokes owner and BetMGM joint venture partner Entain improved 3% or 30.2p to 940.4p after benefiting from favourable broker comment.
Rentokil Initial fell 6.1p to 346.1p and coursework publisher Pearson lost 13.5p to 1051.5p.
In a quiet session for corporate news, student accommodation owner Unite fell 7p to 811.5p after it said 85% of rooms are reserved for the 2025/26 academic year.
This compared with 94% at the same stage of 2024/25, although expectations for a later sales cycle mean it continues to forecast occupancy of at least 97%.
Chief executive Joe Lister said: "Student numbers are expected to increase for the 2025/26 academic year due to a growing UK 18-year-old population and improving trends in international student recruitment.”
The FTSE 250 index rose 25.01 points to 21,563.49.
Victrex, the high performance polymers business, fell 7% or 57p to 729p after it forecast second half profit broadly in line with the first half level. Revenues fell 3% in the third quarter despite a 8% rise in sales volumes.
Shein files for Hong Kong listing - FT
09:42 , Graeme EvansShein has filed to list its shares on the Hong Kong stock exchange – but remains hopeful of securing approval to float in London, according to new reports.
The fast fashion retailer confidentially filed a draft prospectus last week with the Hong Kong exchange, the Financial Times reported on Tuesday.
The move was partly made in a bid to apply pressure on regulators to approve plans to list on the London Stock Exchange, which Shein’s bosses remain hopeful can be kept alive, the FT said.
Sources reportedly said that London remained the company’s preferred exchange due to its more diverse and international investor base.
Unite reservations rate falls, backs full-year guidance
08:34 , Graeme EvansStudent accommodation owner Unite today said 85% of rooms are reserved for the 2025/26 academic year, down from 94% at the same stage of 2024/25.
The group continues to expect occupancy of at least 97%, reflecting expectations for a later sales cycle. It reiterated 2025 guidance for adjusted earnings in the range of 47.5p-48.25p a share.
Unite Students chief executive Joe Lister said: "Student numbers are expected to increase for the 2025/26 academic year due to a growing UK 18-year-old population and improving trends in international student recruitment.
“Sales momentum has picked up in recent weeks, in-line with our expectations for a later sales cycle, and we continue to target occupancy of at least 97%.
“Demand for our accommodation remains underpinned by our alignment to the UK's strongest universities and nomination agreements with our university partners."
The company’s FTSE 100-listed shares fell 6p to 812.5p.
FTSE 100 holds firm as Glencore and AstraZeneca advance
08:22 , Graeme EvansThe FTSE 100 index has posted a resilient performance, lifting 8.32 points to 8814.85.
The session was driven by mining stocks as Glencore rose 5.8p to 303.7p, Rio Tinto lifted 31p to 4287p and Antofagasta added 10.5p to 1920p.
AstraZeneca, which is the London market’s largest stock, also offered support with an improvement of 38p to 10,256p.
Gambling group Entain put on 2% or 22.6p to 932.8p and housebuilder Persimmon lifted 16p to 1213p.
Fallers included coursework publisher Pearson following a decline of 8.5p to 1056.5p and British Gas owner Centrica, down 0.6p to 157.25p.
Turnaround firm Begbies Traynor continues strong run
07:45 , Graeme EvansBegbies Traynor, the business recovery and property advisory firm, today announced its tenth successive year of growth.
Revenue rose 12% to £153.7 million in the year to 30 April, with adjusted earnings up 11% to £31.7 million.
The results came in ahead of original market consensus expectations, having been driven by growth across its advisory services in both divisions.
Business recovery saw increased activity levels, notably in larger, higher value cases.
Executive chair Ric Traynor added: “We have increased the scale of our teams and market conditions are supportive.
“We currently expect revenue will be at the upper end of the range of market expectations, with a further year of profit growth in line with expectations, as we continue to invest in growing the business.”
FTSE 100 seen lower, Asia markets higher despite tariffs threat
07:03 , Graeme EvansAsia markets are higher, with the Nikkei 225 up 0.3% after President Trump sent 25% tariff letters to US trading partners including Japan and South Korea.
The improvement came as Trump said the new 1 August deadline for the imposition of tariffs was “not 100% firm” and depended on the state of trade negotiations.
The Hang Seng index also rose 0.7%, in contrast to yesterday’s session on Wall Street after the S&P 500 index fell 0.8% from Thursday’s record high.
Tesla fell 7% after Elon Musk announced the formation of a new political party.
The FTSE 100 index, which closed down 16.38 points 0.2% at 8806.53 on Monday, is seen opening about 0.2% lower.
