Markets Overview:

The UK 100 is called to open -23 points at 9,874.  The UK 100 looks set to open slightly lower this morning, this comes after a strong showing from the UK’s blue chip index to end last week more than 2.5% higher and following this mornings GDP release.

Britain’s economy grew by 0.1% in the July-to-September period of this year, the Office for National Statistics said on Monday, in line with its initial estimate.  Economists polled by Reuters had forecast the reading for gross domestic product would be unrevised.  Growth in the second quarter was revised down to 0.2% from a previous estimate of 0.3%, the Office for National Statistics said.  Last week the Bank of England said it expected zero GDP growth in the October-to-December period but it thought that the underlying pace of economic growth was around 0.2% per quarter.

Monday’s data showed that Britain’s GDP in the third quarter was 1.3% higher than a year ago – unchanged from the ONS’s initial estimate – while on a per capita basis, output was 0.9% higher than the year before.

Gold today set another record after breaking through the $4400 an ounce threshold for the first time.

The 1.5% advance in Asia trading hours was boosted by the hopes of further US interest rate cuts.

Asia markets are higher this morning, led by the Nikkei 225 after a gain of 1.8%.

Company News & Broker Comments:

Company News:

AstraZeneca said on Monday that a late‑stage trial testing Imfinzi in combination with ceralasertib failed to improve overall survival versus standard treatments in patients with previously treated advanced non‑small cell lung cancer.  The trial, called the LATIFY Phase III trial, evaluated 594 patients from more than 20 countries whose disease lacked targetable mutations and had progressed after prior immunotherapy and platinum-based chemotherapy.

GSK announced that it has entered into an agreement with the U.S. Administration to lower the cost of prescription medicines for American patients, including GSK’s broad respiratory portfolio which is used to treat the more than 40 million Americans who suffer from respiratory conditions such as asthma and COPD.  The agreement delivers on all four actions requested by President Trump in his July 31st letter. As part of the agreement, GSK will lower the price of certain medicines in Medicaid and will launch new products with a more balanced pricing approach which recognises the value of innovation across developed nations.

Harbour announces that it has entered into an agreement to acquire LLOG Exploration Company LLC for $3.2 billion, comprising $2.7 billion of cash and $0.5 billion of Harbour’s voting ordinary shares. The Acquisition marks Harbour’s strategic entry into the US Gulf of America, strengthening its global portfolio and establishing another core business unit alongside Norway, the UK, Argentina and Mexico.

Reporting Today:

UK

None

US

None

Reporting Tomorrow:

UK

None

US

None

In Focus Today:

PBoC Interest Rate Decision

UK Gross Domestic Product

Today’s Ex-Dividends:

UK 100 companies going ex-dividend on 29th December 2025:

BT Group

British American Tobacco

UK 250 companies going ex-dividend on 29th December 2025:

No Dividends to be paid

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