FTSE 100 Live Tuesday
- US inflation figures due
- Bellway order book “healthy”
- Entain lifts full-year guidance
Market update: FTSE 100 higher ahead of US inflation, Entain shares fade
10:11 , Graeme EvansA 13% bounce for Spirax shares and a confidence boost for housebuilding stocks today provided the FTSE 100 cheer ahead of US inflation figures.
Cheltenham-based Spirax, whose thermal energy and fluid technology solutions span sectors including food, healthcare and chemicals, sparked a relief rally for shares by reiterating full-year guidance.
Spirax said it started the second half of the year boosted by strong order books and increasing demand from key end markets, despite the economic uncertainty.
A 1% rise in half-year adjusted profit to £139.9 million also met City hopes, helping the FTSE 100 stock put back some recent losses with a rebound of 785p to 6845p.
Other blue-chip risers came from the mining sector after the US and China extended their tariffs truce for another 90 days.
Rio Tinto lifted 66p to 4653p and Antofagasta put on 26p to 2063p as their gains helped the FTSE 100 index add another 24.87 points to 9154.58.
Further progress by London’s top fight is likely to depend on the impact of today’s US inflation figures on the outlook for future Federal Reserve rate cuts.
July’s annual rate of CPI is seen rising for a third successive month to 2.8%, fuelling Wall Street jitters that tariffs are filtering through to consumer prices.
Elsewhere in the FTSE 100, housebuilders fared well on the read across to a robust trading update by midcap Bellway.
Persimmon led the way with a rise of 15p to 1146.5p, while Taylor Wimpey added 0.75p to 101.05p and Barratt Redrow improved 3.8p to 381.7p.
Bellway rose 44p to 2482p as it said it entered its new financial year with a healthy order book, despite seeing a recent softening in market conditions.
Total completions rose by 14.3% to 8749 homes at an overall average selling price of around £316,000. Both figures were slightly ahead of previous guidance for the year to 31 July.
For the 2026 financial year, Bellway expects to maintain broadly flat average outlet numbers and to deliver further growth in volume output to around 9200 homes.
At the bottom of the FTSE 100, Entain shares failed to benefit from improved guidance alongside half-year results.
The Ladbrokes and BetMGM gambling group reported a stronger-than-expected 11% rise in underlying earnings to £583 million, boosted by UK and Ireland net gaming revenues growth of 21%.
US-based BetMGM, which is 50% owned by Entain, lifted revenues by an underlying 35%.
Entain now expects 7% online net gaming revenues growth, with underlying earnings for the year set to be in the range of £1.1 billion and £1.15 billion.
The shares, which have risen by about a third so far this year, fell 25p to 911.4p.
US inflation rate seen higher, tariffs in focus
09:15 , Graeme EvansInflation figures due for release in the US later today are forecast to show a third successive increase in the annual rate of CPI to 2.8%.
July’s figures will indicate the extent that US tariffs have filtered into consumer prices, posing a potential setback for the Federal Reserve’s inflation target.
Deutsche Bank’s US economists think that the month-on-month core CPI print will be at 0.32%, which would be the fastest rate in six months. If realised, that would push the year-on-year core CPI rate up to 3%.
Susannah Streeter, Hargreaves Lansdown head of markets, added: “While triple-digit tariffs on China goods look set to be avoided, the current levies are still onerous and alongside sharply higher duties on goods from other nations, it’s still going to be a heavy financial burden to shoulder for American importers.”
FTSE 100 higher as builders rally, Spirax shares jump 18%
08:37 , Graeme EvansHousebuilding stocks have been lifted by today’s robust Bellway update, with Taylor Wimpey up 1.75p to 102.05p and Persimmon 19.5p higher at 1151p.
Barratt Redrow and Berkeley also put on 1%, while FTSE 250-listed Bellway gained 61.5p to 2499.5p on the back of robust annual results and healthy order book.
The FTSE 100 index improved 0.3% or 27.57 points to 9157.28, with thermal engineering firm Spirax the standout results-day performer.
The shares jumped 18% or 1120p to 7180p after it said strong order books, increasing demand from key end markets and ongoing delivery of operational priorities meant no change in full-year guidance.
Gambling group Entain upgraded full-year estimates in its results but shares stayed at 936.8p, having risen by about a third so far this year.
Bellway reports “healthy” order book, planning delays continue
08:22 , Graeme EvansHousebuilder Bellway today said it entered its new financial year with a healthy order book, despite a recent softening in market conditions.
In a year-end update, the FTSE 250-listed builder said total completions rose by 14.3% to 8749 homes at an overall average selling price of around £316,000.
Both figures were slightly ahead of previous guidance for the year to 31 July.
For the 2026 financial year, Bellway expects to maintain broadly flat average outlet numbers and to deliver further growth in volume output to around 9200 homes.
Shares rose 3% or 81.2p to 2519.2p.
Chief executive Jason Honeyman said: "Bellway has delivered a solid performance despite ongoing headwinds for our industry.
“There was good growth in volume output and an improvement in underlying margin which are set to drive a strong increase in profits for 2025.
“We have entered the new financial year with a healthy forward order book and outlet opening programme and, if market conditions remain stable, we are well-positioned to deliver further growth in the 2026 financial year.”
Bellway expects the industry to benefit from the Government's planning reforms.
However, it continues to experience delays to decisions as local authorities are taking time to adopt new local plans and the updated National Planning Policy Framework.
Entain upgrades guidance, hails turnaround progress
07:49 , Graeme EvansLadbrokes and BetMGM gambling group Entain today upgraded guidance after reporting a forecast-beating 11% rise in underlying earnings to £583 million.
The half-year figures were boosted by UK and Ireland net gaming revenues growth of 21%, driven by a faster-than-expected market share recovery and growth in player values.
US-based BetMGM, which is 50% owned by Entain, lifted revenues by an underlying 35%.
Entain now expects 7% online net gaming revenues growth, with underlying earnings for the year set to be in the range of £1.1 billion and £1.15 billion.
Chief executive Stella David said the business is getting “stronger, fitter and faster”.
She added: “Entain’s transformation journey is well underway, gathering pace and is supported by our high-quality portfolio of iconic brands with podium positions in attractive markets.”
Retail sales rise fails to offset burden of higher costs
07:28 , Graeme EvansRetail sales growth of 2.5% is “barely touching the sides” of covering the last budget’s £7 billion in new costs on the sector, bosses have warned.
The British Retail Consortium (BRC)-KPMG data for July showed an improvement on the 12-month average growth rate of 1.9% and last year’s rise of 0.5%.
Food sales lifted by 3.9% on the previous July due to warm weather and a packed sporting schedule. Non-food sales rose by 1.4% against a decline of 1.8% last July,
BRC chief executive Helen Dickinson said: “With sales growth at these levels, it is barely touching the sides of covering the £7 billion new costs imposed on retailers at the last Budget.
“If the upcoming Autumn Budget sees more taxes levied on retailers’ shoulders, many will be forced to make difficult choices about the future of shops and jobs, and ongoing pressure would push prices higher.”
Unemployment rate unchanged, earnings growth below forecast
07:12 , Graeme EvansThe UK unemployment rate stayed at a four-year high of 4.7% in the three months to June, figures published by the Office for National Statistics showed today.
The early estimate of payrolled employees for July decreased by 164,000 on the year and by 8,000 on the month to 30.3 million. This was smaller than the 26,000 fall in June.
The estimated number of vacancies in the UK fell by 44,000 or 5.8% in the quarter, to 718,000, for the three months to July. This is the 37th consecutive period where vacancy numbers have dropped compared with the previous three months,
Earnings excluding bonuses grew by an unchanged 5%, while the figure including bonuses came in below expectations at 4.6%
The UK economic inactivity rate for people aged 16 to 64 years was estimated at 21% in April to June. This is below estimates of a year ago, and down in the latest quarter.
Capital Economics said: “The further falls in payroll employment and job vacancies together with slowing wage growth suggests the labour market is still cooling, albeit at a slower pace.”
US-China trade truce boosts markets, FTSE 100 higher
07:00 , Graeme EvansAsia stock markets have rallied and the FTSE 100 index is pointing higher after the US and China agreed a fresh 90-day truce on tariffs.
Tokyo’s Nikkei 225 set a record high after returning from yesterday’s public holiday with a rise of more than 2%. The Shanghai Composite is up by about 0.5% and the Hang Seng index near its opening mark.
The Dow Jones Industrial Average yesterday fell 0.5% and the S&P 500 index eased 0.3%, while the Nasdaq Composite dipped 0.3% from Friday’s record high.
The FTSE 100 index is seen opening 0.2% higher, having added 33.98 points or 0.4% to reach 9129.71 at the end of yesterday’s session.
