TSX gains after CPI shows US inflation rose 3%
Investing.com -- British stocks closed higher on Friday, hitting fresh record highs, as the pound weakened against the dollar and data showed U.K. retail sales rose unexpectedly in September while private sector growth accelerated in October.
The blue-chip index FTSE 100 rose 0.06% and the British GBP/USD fell 0.2% against the dollar to below 1.33.
The DAX index in Germany gained 0.2%, and the CAC 40 in France was flat.
UK private sector economy gains momentum in October
The UK private sector economy accelerated in October, with the S&P Global Flash UK PMI Composite Output Index climbing to 51.1 from 50.1 in September, reaching a two-month high.
Manufacturing production expanded for the first time in 12 months, while services maintained modest growth. The manufacturing output index surged to 51.2 from 45.7 in September, hitting a 13-month high.
The overall manufacturing PMI rose to 49.6 from 46.2, though it remained slightly below the 50.0 threshold that separates growth from contraction.
U.K. retail sales rise 0.5% in September, defying economist forecasts
U.K. retail sales increased by 0.5% in September, according to data released by the Office of National Statistics on Friday.
The monthly growth figure surprised economists who had widely predicted a decline for the period. The September performance represents only a slight decrease from August’s revised 0.6% growth.
The unexpected rise in retail spending suggests British consumers may be in better financial health than previously estimated, contradicting earlier concerns about household spending power in the current economic environment.
NatWest raises full-year outlook after strong third-quarter results
NatWest Group PLC (LON:NWG) has upgraded its full-year revenue and profitability forecast for the second time in 2025 following third-quarter results that exceeded analyst expectations.
The UK lender reported an operating pretax profit of £2.18 billion ($2.91 billion) for the three months ending September, representing a 30% increase compared to the same period last year. This figure surpassed the £1.83 billion forecast by analysts polled by the company.
Total income for the quarter rose 16% to £4.33 billion, also beating market projections of £4.10 billion. NatWest now anticipates 2025 total income excluding notable items to reach approximately £16.3 billion.
CVS Group plans to move to London Stock Exchange’s Main Market
Investing.com -- CVS Group Plc (LON:CVSG) announced its plans to move its listing from the Alternative Investment Market to the London Stock Exchange’s Main Market, with the transition expected in the first quarter of 2026.
The move remains subject to regulatory approval from the Financial Conduct Authority, the company said. In addition to the planned listing change, CVS Group has approved a new £20 million ($26.84 million) share buyback program.
The veterinary services provider currently trades on the Alternative Investment Market, which typically hosts smaller growth companies before they potentially graduate to the Main Market.
UK car production falls 27.1% in September due to cyber attack
UK car production dropped 27.1% in September to 51,090 units, primarily due to a production stoppage at Britain’s largest automotive employer caused by a cyber incident, according to data released Friday by the Society of Motor Manufacturers and Traders (SMMT).
While the major manufacturer faced disruption, other volume manufacturers reported growth during the month. Nearly half (47.8%) of cars produced were electrified models - including battery electric, plug-in hybrid, or hybrid vehicles - with these volumes increasing 14.7% to 24,445 units.
Production for the UK market fell 34.1% to 12,269 units, while exports declined 24.5%. The export market represented 76.0% of total output, with 38,821 cars shipped to global markets. The EU, US, Turkey, Japan, and South Korea were the top five export destinations.
Commercial vehicle production decreased for the sixth consecutive month, falling 77.9% to 3,229 units due to operational consolidation by a leading manufacturer. Combined car and van production declined 35.9% to 54,319 units.
GSK’s Blenrep approved by FDA for relapsed multiple myeloma
GSK plc (LON:GSK) said that the U.S. Food and Drug Administration has approved Blenrep in combination with bortezomib and dexamethasone for treating adults with relapsed or refractory multiple myeloma.
The approval applies to patients who have received at least two prior lines of therapy, including a proteasome inhibitor and an immunomodulatory agent.