20th Nov 2025 09:00
(Alliance News) - Stock prices in Europe powered higher on Thursday, with Nvidia's well-received earnings restoring market confidence ahead of a belated US nonfarm payrolls report in the afternoon.
The FTSE 100 index rose 72.24 points, 0.8%, to 9,579.65. The FTSE 250 was up 118.01 points, 0.6%, at 21,530.25, and the AIM All-Share was 3.52 points higher, 0.5%, at 744.20.
The Cboe UK 100 was up 0.7% at 956.82, the Cboe UK 250 was 0.3% higher at 18,620.60, and the Cboe Small Companies was up 0.3% at 17,546.00.
The CAC 40 in Paris added 1.2%, while the DAX 40 in Frankfurt added 1.0%.
"Nvidia's latest forecast has, for now, dulled the sharpest edges of the AI-bubble anxiety that had gripped global markets," SPI Asset Management analyst Stephen Innes commented.
"But make no mistake: this is still a market balancing on a wire stretched between AI euphoria and debt-filled reality. Nvidia's results may have bought the tape a reprieve, but they haven't rewritten the script - they've simply reminded traders why they still cling to the idea that one last Santa-rally can be extracted from the AI supercycle."
Nvidia shares rose 5.1% after hours.
The Santa Clara, California-based chip maker reported blowout third quarter results and guidance.
Net income climbed 65% to USD31.91 billion In the three months to October 26 from USD19.31 billion a year ago. Revenue was USD57.01 billion, up 62% from USD35.08 billion.
In China, the Shanghai Composite fell 0.4%, while the Hang Seng Index in Hong Kong was slightly higher in late trade. In Tokyo the Nikkei 225 surged 2.7%, while Sydney's S&P/ASX 200 added 1.2%.
A four-day losing streak for the Nikkei has been snapped. It also represents the Sydney benchmark's first meaningful gain since November 10. On Monday, it had inched up by just under a couple of index points.
Sterling fell to USD1.3070 early Thursday, from USD1.3076 at the time of the London equities close on Wednesday. The euro faded to USD1.1522 from USD1.1536. Against the yen, the dollar rose to JPY157.13 from JPY156.67.
The yield on the 10-year US Treasury widened to 4.13% from 4.12%. The 30-year yield stretched to 4.75% from 4.74%.
The September nonfarm payrolls report, delayed by the more than 40-day government shutdown that ended last week, is expected to show the US labour market added 50,000 jobs that month, rising from 22,000 in August.
There is also an initial jobless claims reading at the same time at 1330 GMT.
A barrel of Brent rose to USD63.90 early Thursday, from USD63.37 at the time of the London equities close on Wednesday. Gold declined to USD4,056.11 an ounce from USD4,081.23.
In London, Halma shares jumped 10% on the back of robust half year results and a guidance hike. The safety products manufacturer expects mid-teens organic constant currency revenue growth for the full year, upped from its previous aim of a low double digit rise.
An adjusted earnings before interest and tax margin of around 22%, excluding one-off profit in the first half, is now forecast. It had previously predicted an adjusted Ebit "modestly above" the middle of a 19% to 23% target range.
Games Workshop also surged 10%. For the six months to November 30, the miniature wargames maker predicts core revenue of no less than GBP310 million, an improvement from GBP269.4 million a year prior.
Pretax profit of at least GBP135 million is forecast, up from GBP126.8 million 12 months earlier.
JD Sports gave back 1.2%. The athleisure retailer, "mindful" of consumer strife, expects annual profit at the lower end of market expectations.
CMC Markets jumped 26%. The trading platform provider expects annual earnings ahead of market expectations.
For the six months to September 30, pretax profit shrunk 0.6% to GBP49.3 million from GBP49.6 million a year prior, with operating expenses rising 10% to GBP136.0 million from GBP123.7 million. Revenue increased 4.5% to GBP196.7 million from GBP188.2 million. Net operating income, which subtracts commissions and levies from revenue, climbed 5.0% to GBP186.2 million.
"The group enters the second half with strong momentum across all three verticals, supported by solid client activity and a healthy pipeline of B2B and D2C opportunities," CMC said.
It now expects net operating income to be approximately 10% ahead of current market expectations, which it puts at GBP231.4 million.
CMC upped its dividend to 5.5p per share from 3.1p.
Nanoco shares rose 6.3% as the nanomaterials firm reported a settlement to a litigation with LG Electronics.
The "no-fault" agreement resolves the legal matter between the duo.
"The gross amount agreed to be paid by LG to Nanoco is USD5 million," Nanoco said. "Other terms and conditions are confidential."
Eyewear manufacturer Inspecs fell 4.2%. It noted its performance improved in October, after a trading in the first two months of the second half was "slightly behind plan".
"Notwithstanding this improved trading performance in October and our continued focus on cost savings, the ongoing US tariff disruption and continuing weak macroeconomic environment are expected to impact the timing of product shipments, in particular from Killine," Inspecs said.
It now expects revenue of around GBP191 million million and underlying earnings before interest, tax, depreciation and amortisation of GBP17.7 million for 2025. This would represent a revenue decline from GBP198.3 million and but an Ebitda improvement from GBP17.6 million.
By Eric Cunha, Alliance News news editor
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