FTSE 100 Live: Blue chips higher; Nasdaq dips; Flutter leaves London

The FTSE 100 blue-chip index is currently 32 points higher at 8,263, showing signs of positive movement as the trading week comes to a close. In contrast, the US tech index, Nasdaq, has experienced a dip in performance. Meanwhile, Flutter Entertainment PLC has officially shifted its primary listing from the London Stock Exchange to the New York Stock Exchange.

4.08pm: FTSE 100 to close Friday in high spirits
As the trading session draws to a close, the FTSE 100 is poised to finish the week over 40 points higher, signaling a positive end to the week despite an overall bearish session. The blue-chip index has shed some 50 points throughout the week.

3.54pm: British supermarkets set for Euro lift
Market researcher NIQ forecasts a boost for British supermarkets with the upcoming Euro 2024 football championship set to take place in Germany. The tournament, featuring England and Scotland, is expected to drive increased sales of snacks, drinks, and booze as 45% of households plan to tune in.

3.40pm: US markets give mixed signals
The Nasdaq 100 opened 1% lower on Friday, while the Dow Jones Industrial Average saw a slight increase of 0.1% and the S&P 500 index dipped by 0.4%. Significant movers on the Nasdaq included Zscaler Inc, Warner Bros, Sirius XM, Walgreens, and Lululemon.

2.53pm: Santander hacked
30 million Banco Santander customers and staff data has allegedly been stolen by the black-hat criminal hacker group ShinyHunters. The data, including 28 million credit card numbers, is being sold for $2 million on the dark web, raising concerns about data security.

2.24pm: European inflation comes in hotter-than-expected
European inflation rose to a fourth-month high in May, potentially impacting the European Central Bank’s upcoming interest rate decision. Inflation reached 2.6%, exceeding analysts’ expectations and raising the likelihood of a rate cut at the ECB’s meeting next week.

2.02pm: FTSE 100 looking bullish in afternoon trades
The FTSE 100 has shown positive momentum in afternoon trades, reaching an intraday high of 8,281.48. Supported by gains from National Grid, Centrica, Whitbread, BAE, and GSK, the blue-chip index is over 50 points higher from the previous day’s close.

1.55pm: NatWest capital returns estimates increased following £1.24bn buyback
NatWest’s £1.24 billion buyback from the Treasury has surpassed analysts’ expectations, leading to an increase in capital returns estimates. Peel Hunt analysts now forecast £1.4 billion in buybacks for the year, contributing to a total capital return of £2.74 billion.

1.19pm: Bitcoin unfazed by Trump verdict
Despite US presidential nominee Donald Trump’s conviction, the cryptocurrency market remains steady. Bitcoin added 1% against the US dollar and Ethereum saw a 2.4% increase, with global cryptocurrency market capitalization at $2.55 trillion.

12.51pm: Nasdaq, S&P to open lower, Trump conviction commands national discourse
US stock markets are expected to open lower following Thursday’s losses. The Nasdaq 100 and S&P 500 are anticipated to open lower, with market focus shifting to Donald Trump’s conviction on falsifying business records.

11.47am: Rolls-Royce turbines to power Japanese warships
Rolls-Royce’s MT30 marine gas turbine has been selected to power Japan’s new destroyer-class warships, showcasing the turbine’s high power density and technological advancements.

11.20am: No bonuses for Burberry boss
Burberry chief executive Jonathan Akeroyd received zero annual bonuses due to the company’s poor performance, leading to a lukewarm outlook for the British luxury clothing brand.

10.14am: Royal Mail’s buyer could scrap jobs and postboxes
The potential buyer of Royal Mail has proposed restructuring plans that could involve job cuts and the removal of thousands of red pillar boxes, emphasizing a shift towards out-of-home delivery solutions.

9.57am: More proxy advisors come out against Musk’s pay
A second proxy advisor has advised shareholders to reject Elon Musk’s $56 billion bonus package, citing concerns over its size and impact on shareholder value.

9.41am: Revolution Bars takes itself off market
Revolution Bars Group PLC has decided to undergo a restructuring plan instead of seeking a buyer, aiming to return the company to profitability and streamline its operations.

8.44am: Nationwide to face competition probe over Virgin Money takeover
The Competition & Markets Authority has initiated an investigation into Nationwide Building Society’s acquisition of Virgin Money, assessing the potential impact on market competition.

8.29am: FTSE 100 inches higher
The FTSE 100 has gained nine points in early trading, with Centrica PLC, National Grid PLC, and GSK PLC among the top risers, while Flutter Entertainment PLC and JD Sports are among the biggest fallers.

8.04am: Government reduces NatWest stake by another £1.24 billion
The Treasury has sold £1.24 billion worth of shares back to NatWest Group PLC, decreasing the government’s stake from 27% to 22.5%.

7.47am: House prices outperform
UK monthly house prices have increased by 0.4% in May 2024, exceeding market expectations and reflecting a positive trend in the housing market.

7.36am: JD Sports hits sales expectations, adjusted profit slightly undershoots
JD Sports has achieved £10.54 billion in sales in the 2024 financial year, meeting expectations, while profit before tax and adjusting items fell slightly below the guided range. CEO Régis Schultz remains optimistic about the company’s strategic progress.

7.11am: Stocks to creep higher
Stocks are expected to edge higher on Friday, with housebuilding stocks likely to provide support following positive Nationwide housing price data.

This article was originally published in the local newspaper and has been rewritten for publication on the blog with updated information and insights.