London midday: Stocks maintain gains as investors eye UK jobs data, US inflation

(Sharecast News) - London stocks were still in the black by midday on Monday amid hopes of an end to the Ukraine conflict, but gains were muted as investors eyed key UK jobs and GDP data and the latest US inflation print this week. The FTSE 100 was up 0.3% at 9,122.04 .

Sentiment was boosted after US President Donald Trump said on Friday that he will meet Russian president Vladimir Putin in Alaska at the end of this week to negotiate an end to the war.

On the macro front, there were no releases of note due on Monday, but Tuesday brings the latest UK jobs numbers, while in the US, consumer price inflation figures for July are due.

Commenting on the UK jobs data, Richard Hunter, head of markets at Interactive Investor, said that on the one hand, low expectations for the numbers could serve both to vindicate the Bank of England's knife-edge decision to cut interest rates last week and to provide some room for manoeuvre in beating these estimates.

"By the same token, the interest rate decision has brought the likelihood of further cuts into question given the stickiness of inflation, despite the economy showing few signs of meaningful progress as it continues to reel from previous Budget moves," he said.

"More broadly, the meeting between Trump and Putin later in the week has been taken as a sign that the Ukraine conflict could be nearing an end. The oil price has drifted further as a result on the back of potentially increased supply, bringing its decline so far this year to 11% and putting some slight pressure on the oil majors.

"The defence sector has also taken a hit on the basis of a lesser need for spending, although the measures already announced are unlikely to be dialled back."

As far as Tuesday's US CPI is concerned, Hunter said that if it comes in hotter than expected, there could be some "violent adverse reaction, not least of which because it could bring the Federal Reserve's apparently obvious decision to cut next month into question".

In equity markets, Marks & Spencer jumped to the top of the FTSE 100 after announcing over the weekend that its click & collect service has been restored following the recent cyber attack.

Diversified Energy rallied after solid second-quarter results.

On the downside, fintech business Plus500 tumbled even as it posted an uptick in first-half profit and revenue and said customer deposits more than doubled year-on-year.

Marshalls slumped as it posted a drop in first-half profit, slashed its dividend and said it does not expect any improvement in market activity levels through the remainder of 2025.

Oxford Nanopore fell as it said chief executive officer Gordon Sanghera plans to step down after more than 20 years in the role.

Outside the FTSE 350, Martin Sorrell's S4 Capital shot up as it confirmed it has received a proposal from MSQ, a creative and technology agency owned by One Equity Partners, about a possible combination.

Responding to media speculation, the ad agency said discussions are at a "very preliminary" stage and there can be no certainty that a transaction will be forthcoming.

Gemfields also rose agreeing to sell iconic luxury brand Fabergé to SMG Capital LLC for $50m. SMG Capital is a US-based investment company owned by tech entrepreneur and venture capital Sergei Mosunov.

Market Movers

FTSE 100 (UKX) 9,122.04 0.29% FTSE 250 (MCX) 21,895.20 -0.29% techMARK (TASX) 5,217.46 -0.29%

FTSE 100 - Risers

Marks & Spencer Group (MKS) 340.40p 2.53% Fresnillo (FRES) 1,730.00p 1.70% Hikma Pharmaceuticals (HIK) 1,767.00p 1.55% WPP (WPP) 373.20p 1.55% Pershing Square Holdings Ltd NPV (PSH) 4,074.00p 1.55% AstraZeneca (AZN) 11,082.00p 1.46% IMI (IMI) 2,274.00p 1.43% Diageo (DGE) 2,047.00p 1.29% Glencore (GLEN) 291.90p 1.27% Airtel Africa (AAF) 209.60p 1.26%

FTSE 100 - Fallers

SSE (SSE) 1,757.00p -2.66% BAE Systems (BA.) 1,709.00p -1.64% Croda International (CRDA) 2,533.00p -1.40% Babcock International Group (BAB) 945.50p -1.30% Melrose Industries (MRO) 584.00p -1.18% InterContinental Hotels Group (IHG) 8,728.00p -1.09% CRH (CDI) (CRH) 8,086.00p -1.03% Mondi (MNDI) 1,068.50p -0.97% Weir Group (WEIR) 2,468.00p -0.96% Whitbread (WTB) 3,022.00p -0.92%

FTSE 250 - Risers

Diversified Energy Company (DEC) 1,198.00p 9.41% Gamma Communications (GAMA) 1,100.00p 3.19% Harbour Energy (HBR) 233.60p 2.82% Greencoat UK Wind (UKW) 117.50p 1.73% Baltic Classifieds Group (BCG) 347.50p 1.61% 4Imprint Group (FOUR) 3,230.00p 1.57% Serco Group (SRP) 222.20p 1.46% Fidelity China Special Situations (FCSS) 288.50p 1.23% Supermarket Income Reit (SUPR) 81.60p 1.12% RHI Magnesita N.V. (DI) (RHIM) 2,275.00p 1.11%

FTSE 250 - Fallers

Oxford Nanopore Technologies (ONT) 202.20p -5.95% Ocado Group (OCDO) 378.00p -4.45% Spectris (SXS) 4,018.00p -3.55% Wizz Air Holdings (WIZZ) 1,374.00p -3.10% Burberry Group (BRBY) 1,157.00p -2.94% Hochschild Mining (HOC) 300.00p -2.79% Plus500 Ltd (DI) (PLUS) 3,336.00p -2.57% W.A.G Payment Solutions (WPS) 81.20p -2.17% Hays (HAS) 63.20p -1.86% CMC Markets (CMCX) 228.00p -1.72%