Lloyds Banking Group and Unilever are among the companies in the spotlight amid a busy session for FTSE 100 updates.
London’s top flight outperformed yesterday after inflation figures came in below forecast, boosting the outlook for interest rate cuts.
In other corporate updates, Foxtons has scaled back profit expectations due to the impact of Budget uncertainty on house sales.
FTSE 100 Live Thursday
- Lloyds profit falls
- Unilever growth accelerates
- Foxtons cuts guidance
Market update: FTSE 100 near record as Rentokil surges 10%, Lloyds steady
10:04 , Graeme EvansStronger oil stocks and the results-day resilience of Lloyds Banking Group and Unilever today helped the FTSE 100 edge nearer record territory.
BP and Shell rose 2% - 10.2p to 431.6p and 65p to 2826p respectively - as US sanctions against Russian oil sent the price of Brent Crude up 4% to $65 a barrel.
The oil sector’s contribution alongside gains of 1% for mining heavyweights Rio Tinto and Anglo American meant the FTSE 100 index lifted 31.82 points to 9546.82.
That compares with the intraday record of 9577 and record close of 9548.87 set earlier this month. The blue-chip index has risen for four sessions in a row, having dipped to 9354 at the end of last week.
Rentokil Initial led the top flight with a surge of 10%, up 42p to 449.3p after the pest control firm provided more signs of a recovery in its North America performance.
The group left full-year guidance unchanged after organic revenues growth accelerated to 3.4% in the third quarter.
London Stock Exchange shares were also in recovery mode after a poor performance so far this year.
They rallied 6% or 522p to 9242p after the financial data and analytics business said its “strong momentum” continued in the third quarter, with an underlying margin seen at the top of guidance for 2025.
Lloyds Banking Group shares were unchanged at 84.5p as investors balanced robust underlying trading with the impact of motor finance redress on Q3 results.
The 36% fall in pre-tax profits to £1.17 billion was slightly better than expected, while the lender left its guidance for 2026 unchanged.
Unilever rose 84p to 4737p after the Dove and Hellmann’s maker reported underlying sales growth of 3.9% for the third quarter.
Stronger trading in emerging markets boosted the performance as Unilever reiterated guidance for growth between 3% and 5% in the full year.
Oil giants rally on Brent Crude price surge, gold steadies
09:34 , Graeme EvansBP and Shell shares are up 2% after the announcement of US sanctions against Russian oil lifted the price of Brent Crude by 4% to $65 a barrel.
The spike ends a period of downward pressure after oversupply fears caused the commodity to fall from more than $75 in June to near $60 earlier this week.
BP lifted 10p to 431.5p and Shell improved 65p to 2826p.
Meanwhile, the price of gold has firmed after two days of losses to stand at $4114 an ounce.
London Stock Exchange rallies on Q3 progress, launches new products
09:04 , Graeme EvansLondon Stock Exchange shares today rose 5% or 448p to 9168p after it said its “strong momentum” continued in the third quarter. The improvement narrows the year-to-date fall for shares to just under 20%.
The financial data and analytics business reported total income growth of 6.4% and said it expects an underlying earnings margin at the top of guidance for 2025.
Chief executive David Schwimmer added that new products positioned LSEG as the “partner of choice in AI with the likes of Microsoft and Databricks”.
He said: “We have significantly accelerated our strategic progress in the last few months, driving the long-term growth potential of the business.”
Lloyds shares steady despite profits fall
08:33 , Graeme EvansLloyds Banking Group shares are broadly unchanged at 84.4p after the lender reported a smaller-than-forecast 36% fall in third quarter profit to £1.17 billion.
The performance was impacted by an additional £800 million of motor finance redress costs, leading to reduced guidance for return on tangible equity in 2025.
Richard Hunter, head of markets at Interactive Investor, said: “This has turned out to be something of a quarter to forget for Lloyds, with the additional motor finance redress provision playing havoc with many of its key metrics.
“Of course, the motor provision is not life-threatening and without that distraction the underlying progress remains strong.”
Hunter said a potentially deteriorating economic backdrop and lower house price forecasts increased impairments elsewhere, although to a minor extent in comparison to the motor finance hit.
He added: “For the most part, the UK consumer is alive and well with defaults stable and the previous small number of individual cases moving into default territory within Commercial Banking appears to have stabilised.”
FTSE 100 near intraday record, Rentokil surges 11%
08:19 , Graeme EvansThe shares of Lloyds Banking Group and Unilever are broadly unchanged after they posted third quarter trading updates this morning.
Rentokil Initial jumped 11%, up 44.8p to 452.1p after the pest control firm said the positive trends reported in interim results continued into the second half.
Revenues for the third quarter grew by 4.6%, driven by an acceleration in North America underlying sales growth to 3.4%.
London Stock Exchange lifted 7% or 592p to 9312p after it forecast an underlying margin at the top of guidance for 2025.
The FTSE 100 index rose 0.4% or 34.72 points to 9549.72, near its intraday record high of 9577.08.
Foxtons cuts guidance amid Budget caution
07:53 , Graeme EvansFoxtons today scaled back expectations after seeing London’s property market slow on speculation over the contents of the “delayed” Budget.
London’s biggest estate agency chain said that revenues from home sales fell 7% in the third quarter from £13.5 million to £12.5 million. It highlighted the risk that fourth quarter Sales revenue falls below management's expectations.
Foxtons said the Q3 decline was due to deals being brought forward to the first quarter, as well as “limited interest rate reductions, and uncertainty around the delayed Autumn Budget.”
Operating profits for the full year are “expected to be in the range of £21.5 million to £23.2 million” below previous City forecasts of £23.7 million profit.
Last year the company made operating profits of £21.6 million.
Chief executive Guy Gittins said: “There remains significant pent-up demand in the London volume market and we believe market conditions will improve once there is better clarity following the Budget, providing a more positive backdrop as we execute against our growth strategy.”
Unilever backs guidance, emerging markets performance improves
07:45 , Graeme EvansConsumer goods giant Unilever today reiterated guidance for the year after reporting underlying sales growth of 3.9% for the third quarter.
The performance included volume growth of 1.5%, which was in line with the rate for the first nine months of the year.
The group, whose brands include Dove, Domestos and Hellmann’s, continues to target underlying sales growth of between 3% and 5% for 2025.
It said: “Second half growth is expected to be ahead of the first half, despite subdued market conditions. This reflects our continued strength in developed markets and improving performance in emerging markets.”
Lloyds posts lower Q3 profit, margin higher
07:14 , Graeme EvansLloyds Banking Group today reported a 36% drop in third quarter pre-tax profit to £1.2 billion, driven lower by an £800 million motor finance redress provision.
Underlying net interest income rose 7% to £3.45 billion, with the net interest margin up 11 basis points on a year earlier to 3.06% for the quarter.
An underlying impairment charge of £176 million was 2% higher than a year ago.
Lloyds said net interest income for the year is now set to be about £13.6 billion, up from guidance in the summer of £13.5 billion.
Return on tangible equity, a key industry measure, is seen at 12% due to the impact of motor finance redress or 14% without the provision. Previous guidance stood at 13.5% .
Chief executive Charlie Nunn said: "The group continues to perform well, demonstrating robust financial performance alongside strategic progress, including our recent acquisition of Schroders Personal Wealth.
“Strong capital generation was supported by income growth, cost discipline and strong asset quality in the first nine months of 2025, despite the impact of the additional motor finance charge in the third quarter.”
Nunn said the company’s strategic progress combined with the third quarter financial performance gave him “confidence in our performance for the year and our 2026 guidance".
FTSE 100 set for steady start, US markets lower
07:01 , Graeme EvansThe FTSE 100 index is set to consolidate yesterday’s rise of 0.9%, despite a weak handover from Wall Street.
Encouraging inflation figures meant London’s top flight outperformed other European benchmarks, while the FTSE 250 index finished 1.5% higher.
In the US, the Dow Jones Industrial Average fell 0.7%, the S&P 500 lost 0.5% and the Nasdaq Composite declined by 0.9%.
Tesla shares fell 4% in extended dealings after third quarter profit missed expectations on the back of better-than-expected revenues.
Asia markets are lower, while the gold price is down by 0.2% at $4085 an ounce.
