London stocks closed mixed Wednesday, with Burberry rallying over 17% on restructuring plans despite a full-year loss. Imperial Brands and Spirax-Sarco tumbled after underwhelming updates, while the broader European market softened amid weaker German inflation and summer booking concerns at TUI.
We also hear from BoE policymaker Catherine Mann, who warns of stubborn inflation despite this week’s rate cut. Plus: Wall Street tech stays strong as AI export curbs ease, Super Micro lands a $20bn Saudi deal, and JD.com sinks in US trading.
CityCast PM gives you the City’s full market wrap in under 10 minutes.
⏱️ Timestamps:
00:00 – Intro & market wrap: FTSE 100 down 0.2%, FTSE 250 up 0.3%
00:30 – Chris Beauchamp on US vs Europe market momentum, gold outlook
01:10 – Catherine Mann: UK labour strength, inflation risks, dissent on rate cuts
01:55 – Corporate winners:
• Burberry +17.03% on restructuring news
• Mondi, M&S, Hikma gain on upgrades
02:45 – Corporate fallers:
• Imperial Brands -7.27% on profit miss, CEO change
• Spirax -6%, Compass -2.53%, Experian -2.86%, Persimmon lower post-sale
03:40 – Europe: Stoxx 600 and DAX fall, Germany inflation slows to 2.1%
04:30 – TUI -11% on bookings, Alstom -17.3% post-earnings
04:55 – Wall Street: Nasdaq up 0.7%, Dow flat, S&P +0.2%
05:20 – US housing: Mortgage apps rise, 30-year rate steady
05:45 – US stocks:
• Super Micro lands $20bn Saudi AI deal
• Nvidia, AMD rise, JD.com drops
06:20 – Wrap-up: Back after NY close with full global update
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