FX.co ★ FTSE 100 Holds at Record Levels

The FTSE 100 remained close to its all-time high of around 9000 on Tuesday, experiencing modest gains. Shares in Experian, a leading credit data company, surged by 5% following their announcement of an 8% increase in Q2 revenue, notably propelled by a robust 9% growth in their North American sector, which constitutes a significant portion of their total sales. This prompted analysts at Jefferies to anticipate upward revisions in profit forecasts. Conversely, B&M witnessed a decline of over 11% in its share value after its quarterly report left investors underwhelmed. Despite demonstrating positive like-for-like growth and robust sales in April, attributed to favorable weather conditions and Easter holiday alignments, analysts were unimpressed with the subdued margin expectations, suggesting that performance should have been more robust given the comparably easier metrics. The homebuilding sector saw a decline, particularly with Barratt and Redrow, the latter experiencing a 13% drop following disappointing guidance highlighting challenges in London and planning delays. On a more positive note, retail sales data reflected some optimism as total sales increased by 3.1% in June, hinting at a possible resurgence in consumer confidence despite prevailing economic challenges.