Hikma Surges, UK GDP Jumps, Powell Warns | CityCast PM – Thu 15 May 2025

London markets closed higher Thursday after stronger-than-expected UK GDP growth and a flurry of upbeat corporate earnings. The FTSE 100 rose 0.6%, with Hikma, Serco, and Watches of Switzerland among the top gainers. But oil majors BP and Shell slipped as crude prices dropped amid speculation over US-Iran diplomacy.

In the US, mixed economic data and remarks from Fed Chair Powell on global volatility shaped investor sentiment. Retail sales rose modestly while producer prices unexpectedly fell. Meanwhile, Dick’s Sporting Goods confirmed a $2.4bn deal for Foot Locker, and Walmart’s CEO flagged new pricing pressures.

CityCast PM gives you the City’s closing snapshot in under 10 minutes.

⏱️ Timestamps:

00:00 – Intro & FTSE 100 closes up 0.6%
00:25 – UK GDP grows 0.7% in Q1, led by services and production
00:55 – Corporate risers:
• Hikma +7.4% on long-term growth targets
• Watches of Switzerland +5.2% on strong sales
• Serco +3.8% on £1bn Navy contracts
• National Grid, Aviva also higher
01:55 – Corporate fallers:
• BP -3.9%, Shell -2% on oil weakness
• Auction Technology -11.2% on weak March
• Spectris, PageGroup down on ex-dividend trading
02:40 – Wall Street update:
• Powell says higher rates may be needed long-term
• Jobless claims steady; manufacturing surveys mixed
• PPI -0.5%, retail sales +0.1%
03:45 – US stocks:
• Dick’s confirms $2.4bn Foot Locker deal
• Walmart CEO warns on price risks
04:20 – Europe wrap:
• Stoxx 600 +0.5%, DAX +0.7%, CAC +0.2%
• Merck cuts outlook, Thyssenkrupp profits plunge
• Siemens steady; eurozone industrial output +2.6%
05:15 – GDP outlook: Eurozone +0.3% in Q1, may be short-lived
05:40 – Wrap-up: Back after Wall Street close tonight