9th Dec 2025 07:58
(Alliance News) - Stocks in London are set to open slightly higher on Tuesday, ahead of the start of US Federal Open Market Committee meetings.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called up 1.5 points at 9,646.59
GBP: higher at USD1.3329 (USD1.3319 at previous London equities close)
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ECONOMIC CALENDAR
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1100 GMT Ireland industrial production
1000 SAST South Africa consumer confidence
0600 EST US NFIB business optimism index
0855 EST US Redbook index
1400 EST US FOMC meetings begins
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BROKER RATINGS
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JPMorgan places London Stock Exchange on 'positive catalyst watch'
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JPMorgan raises Man Group to 'overweight' (neutral) - price target 256 (209) pence
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JPMorgan starts Magnum Ice Cream with 'neutral' - price target 14 EUR
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COMPANIES - FTSE 100
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Ashtead reports results for the half-year and second quarter ended October 31. Half-year revenue rose 1.1% to USD5.76 billion from USD5.70 billion the previous year, and rental revenue rose 2% to USD5.36 billion. Pretax profit decreased 10% to USD1.08 billion from USD1.20 billion. The firm declared an interim dividend of 37.5 cents from 36.0 cents. Also, Ashtead said its primary listing is on track to move to the New York Stock Exchange is on track for March. Looking ahead, the company reaffirmed its full-year guidance, which includes 0% to 4% rental revenue growth and free cash flow between USD2.2 billion from USD2.5 billion.
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British American Tobacco announced a new GBP1.4 billion share buyback and hailed a "strong" US performance. The cigarette and nicotine product maker also said it was on track to meet its 2025 guidance and reaffirmed 2026 estimates. It expects total group revenue to rise 2% at constant rates for 2025, with new category revenue likely to reach mid-single digit growth at constant rates. Adjusted profit from operations is projected to rise 2% at constant rates. It also highlighted strong US revenue and profit momentum, said the company, with a market capitalisation of around USD125.36 billion. BAT further expects to continue to meet its interest-bearing debt minus cash divided by earnings before interest, taxes, depreciation and amortisation target by the end of 2026.
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COMPANIES - FTSE 250
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Chemring reports its results for the year ended October 31. Pretax profit rose 31% to GBP67.7 million from GBP51.8 million the year before. Revenue increased to GBP497.5 million from GBP488.3 million. Chemring recommends a final dividend of 5.3 pence, up from 5.2p, and a total dividend of 8.0p, up from 7.8p. "The outlook for sustained defence spending remains strong," said Chief Executive Michael Ord. "Growing geopolitical uncertainty is driving increased expenditure across our target markets, particularly within NATO, and Chemring is well positioned to capitalise on this demand, which we expect to persist well into the next decade." The defence firm also said it has so far spent GBP3.6 million on its GBP40 million buyback programme, which remains ongoing.
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Moonpig Group releases half-year results for the period ended October 31. Revenue rose 6.7% to GBP168.6 million from GBP158.0 million. Pretax profit was GBP26.6 million, flipped from a loss of GBP33.3 million. Moonpig declared a 1.25p per share dividend, up 25% from 1.0p. It said its trading in the second half has remained in line with our expectations, and its forecasts for the full year remain unchanged. "With real momentum and multiple growth levers to pull, the group is well-positioned to continue capitalising on the long-term structural shift from offline to online," said Chief Executive Officer Nickyl Raithatha. Moonpig also stated that Raithatha, who announced his decision to step down in June, will be leaving the firm on December 31. His successor, Catherine Faiers, will assume the CEO role on March 2.
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OTHER COMPANIES
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Begbies Traynor announces its half-year results for the six months ended October 31. Revenue increased to GBP82.0 million from GBP76.3 million. Pretax profit increased to GBP8.6 million from GBP4.7 million. The Manchester, England-based insolvency advisor declared a 7% increase in the interim dividend to 1.5p from 1.4p. Begbies said this half-year performance underpins the board's confidence in delivering current market expectations for the full year, extending its track record of profitable growth. It cited an analyst consensus of between GBP23.7 million and GBP24.9 million in adjusted pretax profit. Executive Chair Ric Traynor says: "Our broad range of services, diversified client base, organic growth initiatives and pipeline of acquisition opportunities, leaves us confident of continuing to build upon our strong track record of growth, as we progress to our medium-term target of GBP200 million revenue."
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By Emma Curzon, Alliance News reporter
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Related Shares:
London Stock ExchangeManChemringBegbiesBritish American TobaccoAshtead GroupMoonpig Gr