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Morning Report - 25 November 2025

Yesterday’s UK 100 Leaders Price (p) % Chg
Persimmon PLC 1,285.0 7.0%
Fresnillo PLC 2,498.0 6.8%
Easyjet PLC 480.4 4.9%
Games Workshop Group PLC 19,040.0 4.3%
London Stock Exchange Group PLC 8,642.0 3.8%
Yesterday’s UK 100 Laggards Price (p) % Chg
BAE Systems PLC 1,652.0 -5.9%
Rolls-Royce Holdings PLC 1,029.0 -4.6%
Airtel Africa PLC 295.6 -3.3%
Marks And Spencer Group PLC 324.5 -2.7%
SSE PLC 2,128.0 -2.3%
Major World Indices Price % Chg 1 Year
FTSE 100 INDEX 9,535 0.1% 15.0%
DOW JONES INDUS. AVG 46,448 0.4% 3.8%
DAX INDEX 23,239 0.6% 19.8%
NIKKEI 225 48,660 0.1% 25.5%
S&P/ASX 200 INDEX 8,537 0.1% 1.4%

 

Commodity Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 58.50 0.58%
Brent Crude (ICE) USD/bbl. 63.00 0.58%
Gold Spot USD/t oz. 4,134 0.1%
Copper (Comex) USd/lb. 513 1.6%
The UK 100 is called to open +12 points at 9546. 

4 Hours; 3 Months

Click graph to enlarge

Markets Overview:


The UK 100 is called to open +38 points at 9,647. 
The UK 100 looks set to extend its winning run on the open today, being called points higher.  In focus today will be the budget, scheduled for 12.30pm, where Rachel Reeves will attempt to bridge a fiscal black hole estimated to be between £20 billion and £30 billion.

The Dow Jones closed higher on Tuesday following another winning session, with traders evaluating expectations of a Federal Reserve interest rate cut and the state of the artificial intelligence trade.  The blue-chip index advanced 664.18 points, or 1.43%, to close at 47,112.45. The S&P gained 0.91% to settle at 6,765.88, while the Nasdaq climbed 0.67% to finish at 23,025.59. That marks a turnaround from the losses seen earlier in the day. At session lows, the S&P 500 was down about 0.7%, while the Dow and tech-heavy Nasdaq dropped more than 100 points, or 0.2%, and more than 1%, respectively.

Asia stock markets were stronger in overnight trade, with the Nikkei 225 up 1.8% and the Hang Seng index adding by 0.4%.

Company News & Broker Comments:

 

Company News:

Pets at Home today reported a 33% slide in half-year underlying profit to £36.2 million as it counted the cost of tough trading in its retail division.  The group said the division’s revenues fell 2.3% to £679.9 million and underlying profits by 84.1% to £3.5 million. The veterinary services part of the business posted improved trading in the six months to 9 October.  The company made no change to full year expectations for an underlying profit of between £90 million and £100 million. It also reported a sequential improvement in retail trading in the second quarter compared with the first.  Chair Ian Burke is running the business after a profit warning in September was followed by the departure of chief executive Lyssa McGowan.

Reporting Today:

 

UK

 

Pets At Home Group (PETS)

Future (FUTR)*

US

 

Deere & Co (DE) PMO

Reporting Tomorrow:

 

UK

 

Pennon Group (PNN)

Mitchells & Butlers (MAB)*

US

 

Deere & Co (DE) PMO

In Focus Today:

 

German 10-y Bond Auction

UK Budget Report

US Durable Goods Orders

US Initial Jobless Claims

Chicago PMI

ECB’s Lane speech

ECB’s President Lagarde speech

Fed’s Beige Book

Tomorrow’s Ex-Dividends:

 

UK 100 companies going ex-dividend on 27th November 2025:

Imperial Brands

Alliance Whitan

Marks and Spencer Group

International Consolidated Airlines Group

3i Group

Land Securities Group

Severn Trent

LondonMetric Property

 

UK 250 companies going ex-dividend on 27th November 2025:

Hill & Smith

Oxford Instruments

FirstGroup

HICL Infrastructure

Ithaca Energy

Great Portland Estates

Johnson Matthey

PayPoint

 

 

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This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


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