The FTSE 100 index is clinging on to a green day, up 0.1% despite mixed economic developments globally. The FTSE 250 has gone the other way, losing 0.03% so far, and falling below the 21,000 level.
A key factor influencing the UK stock market was the performance of recruitment firms, following a profit warning fromSThree which cut its 2025 pre-tax profit guidance significantly. This announcement led to a notable decline in related stocks, with FTSE 250 listed SThree’s shares (LON: STEM) plummeting by 27.29%, Hays falling 4.6%, and Page Group slipping 3.7%.
Rapberry Pi shares (RPI) continue on the recent bullish run, with gains of 6.5% on the day bringing the cumulative 1 month increase to an impressive 46%.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Curry’s shares are also soaring on the day, up 17% on reports of performance strengthening, and predicted price increases due to rising costs stemming from October’s Budget.
Elsewhere in Europe, the European Central Bank (ECB) took a significant step by cutting interest rates by 25 basis points. The new rates for the deposit facility, main refinancing operations, and marginal lending facility are now set at 3.00%, 3.15%, and 3.40% respectively.
This decision aligns with analysis suggesting possible rate cuts through 2025. The ECB has also adjusted its eurozone economic growth forecasts, predicting a GDP growth of 0.7% in 2024 and 1.1% in 2025, down from previous estimates. Europe’s leading DAX index is trading up, with the Stoxx 600 down as a mixed day draws to close.
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