Markets Overview:

The UK 100 is called to open +5 points at at 10,614. The UK 100 is predicted to open marginally higher today, adding 5 points to yesterdays modest rise of 25 points for the UK’s blue-chip index.

U.S. stock futures were little changed on early Wednesday as the S&P ended the day’s regular session less than 1% from its all-time high.  Futures tied to the broad market index as well as the Nasdaq futures and the Dow Jones futures were trading flat.  On Tuesday, the S&P rose 1.18%. The Nasdaq gained 1.96%, while the blue-chip Dow advanced 317.74 points, or 0.66%.

The S&P is nearing its all-time high of 7,002.28, reached on Jan. 28. Tuesday marked the index’s ninth positive session in 10, while the technology-heavy Nasdaq also posted its 10th straight session of gains. The S&P 500′s Monday advance erased its losses dating back to when the Iran conflict began in late February.

Stock markets across East Asia recorded significant gains for a second consecutive session on Wednesday. This upward trend followed a notable decline in global oil prices and growing optimism surrounding a potential resolution to the conflict in Iran. Investors reacted positively to signals that diplomatic efforts might finally stabilise a region critical to global energy supplies. South Korea’s benchmark KOSPI index led the regional rally, surging by as much as 3% during mid-morning trade. In Japan, the Nikkei gained 0.8%, while Hong Kong’s Hang Seng Index rose approximately 1% shortly after the opening bell.

The positive momentum extended into mainland China, where the CSI 300 index climbed 0.3%. Meanwhile, Australia’s S&P/ASX 200 edged up 0.2% by midday. These gains reflect a broader shift in market sentiment as traders move away from safe-haven assets and back into equities. The primary catalyst for this shift was recent commentary from U.S. President Donald Trump. During a televised interview, the President suggested that the war in Iran was “close to over,” sparking immediate reactions across global trading floors. His remarks followed earlier hints regarding a potential new round of high-level talks scheduled for later this week.

Company News & Broker Comments:

Company News:

Barratt Redrow has reaffirmed full-year guidance after reporting a solid third-quarter trading performance, with customer demand holding steady and forward sales rising above £3.5bn.  In a trading update covering the 13 weeks to 29 March 2026, the Leicester-based housebuilder said it expects full-year adjusted pre-tax profit to be in line with market expectations of around £568m, while total housing completions are forecast at between 17,200 and 17,800 homes, including joint ventures.  David Thomas, chief executive said: “Barratt Redrow had a solid third quarter, with a resilient reservation rate underpinned by good customer demand. Despite heightened macroeconomic uncertainty, we expect the Middle East conflict to have limited impact on FY26 performance, given our strong forward sales position and advanced build programme. We are therefore on track to deliver total housing completions and adjusted profit before tax in line with consensus expectations.  “Looking ahead, we have a proven track record of navigating uncertainty and remain confident in our financial strength and ability to adapt to changing market conditions. We will continue to closely monitor developments while maintaining a disciplined approach to capital allocation, selective land investment and rigorous cost control.”  Total forward sales, including joint ventures, stood at £3.54bn at the end of the quarter, up from £3.14bn a year earlier, while the forward order book rose 11.2% to 11,395 homes.  The private home order book increased to 5,643 homes, with a value of £2.28bn, compared with £2.24bn a year earlier.  Reservation activity also improved during the quarter. Net private reservation rates, excluding private rental sector and multi-unit sales, rose to 0.64 per active outlet per week from 0.62 in the prior year. Including those categories, the overall rate increased to 0.67 from 0.63.  The group completed 3,274 homes during the quarter, down from 3,717 in the comparable period, which management said reflected a particularly strong prior-year quarter ahead of the end of Stamp Duty relief. Year-to-date completions totalled 10,718 homes.  Barratt Redrow also upgraded its year-end net cash guidance to between £550m and £650m, around £150m above previous expectations, citing lower land investment and the timing of legacy building remediation payments.  During the period, the company approved 2,465 plots across 14 sites, taking year-to-date approvals to 4,010 plots. Management said it had become more selective on land purchases given market uncertainty and now expects annual approvals of between 7,000 and 9,000 plots, below previous guidance of 10,000 to 12,000.  The group said integration of the Redrow acquisition remains on track, with IT integration due to complete this month.  It reiterated a £100m cost synergy target, having delivered £20m in FY25 and expecting a further £50m in FY26.

Standard Life today announced that it has entered into an agreement to acquire Aegon UK, containing the UK insurance and pensions operations of Aegon Europe Holding B.V. for a total consideration of £2.0 billion.  The Transaction will be funded through a combination of debt, cash and the issue of new ordinary shares in Standard Life (representing approximately 15.3% of the Group’s enlarged share capital) to Aegon on completion, with Standard Life welcoming Aegon as a new strategic shareholder and asset management partner.

Reporting Today:

UK

Saga (SAGA) – Full Year Results

Barratt Redrow (BTRW) – Q3 Trading Update

Hunting (HTG) – Trading Statement

Rank Group (RNK) – Q3 Trading Statement

US

ASML Holding NV

Bank of America Corp

Morgan Stanley

Reporting Tomorrow:

UK

Tesco (TSCO) – Full Year Results

Dunelm Group (DNLM) – Q3 Trading Statement

Entain (ENT) – Q1 Trading Update

Rentokil Initial (RTO) – Q1 Trading Update

US

Taiwan Semiconductor Manufacturing Co

Netflix Inc.

Abbott Laboratories

In Focus Today:

US IMF Meeting

EU Industrial Production

Tomorrow’s Ex-Dividends:

UK 100 companies going ex-dividend on 16th April 2026:

Convatec Group

London Stock Exchange Group

Diageo

Antofagasta

Games Workshop Group

UK 250 companies going ex-dividend on 16th April 2026:

Unite Group

Jupiter Fund Management

Rathbones Group

Johnson Service Group

Quilter

Costain Group

Travis Perkins

Kier Group

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