Thursday Morning Markets: FTSE 100 Edges Higher, THG Surges and Mondi Slides

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The GBPUSD is up around 0.5% to 1.3254 after UK GDP data this morning, while spot gold has risen 1% to $4,146, after yesterday’s decline following US inflation data.

Oil lower as Iran conflict drags on

Brent is down 1.8% at $104.18 and WTI has dropped 1% at $94.15.

Two vessels sank near the Strait of Hormuz, one hit by a projectile and one by a sea mine, and Iranian parliament speaker Ghalibaf said Tehran will keep fighting until Washington accepts its demands.

CNN, citing unnamed US officials, reported that the US military has drawn up new strike plans if Trump orders combat to resume.

US inflation rose to 3.7% in the year to September from 3.4% in August, above forecasts, with vehicle fuel prices up 34.2% over 12 months.

Movers: THG up, Mondi down

In the FTSE 100, Autotrader rose 4.33%, RELX 3.64%, Experian 3.56% and Sage 3.45%. British Land gained 3.33% after a trading statement, in which it said it expects half-year underlying earnings per share of 16.1p, up from 15.4p.

Antofagasta fell 6.24%; its third-quarter report showed copper output of 151,900 tonnes, up 7.0% on the second quarter. Halma lost 6.09% and Polar Capital Technology Trust 5.01%.

In the FTSE 250, THG jumped 13.59% after lifting its full-year adjusted EBITDA expectation to £103m, ahead of market consensus, on stronger nutrition trading. XPS Pensions rose 7.42% after an update said the board is confident full-year results will be slightly ahead of expectations.

Dunelm gained 6.93% after first-quarter sales rose 1.1% to £433m, with sales up about 4% in the final seven weeks.

Mondi fell 10.21% after third-quarter underlying EBITDA of €196m, against €223m a year earlier. Mondi said input costs were higher than expected as energy-related costs rose. Ceres Power fell 10.75% and Renishaw 8.22%.