Business
FTSE 100 finishes lower as political woe in Paris jolts CAC 40
The FTSE 100 closed slightly lower on Monday, below new best levels, and despite gains by gold miners as the yellow metal hit a new high.
The FTSE 100 index closed down 12.11 points, 0.1%, at 9,479.14. The blue-chip index had earlier hit a new all-time best level of 9,516.83.
The FTSE 250 ended down 97.88 points, 0.4%, at 22,099.74, and the AIM All-Share declined 0.89 of a point, 0.1%, at 795.63.
In European equities on Monday, the CAC 40 in Paris closed down 1.4%, while the DAX 40 in Frankfurt ended unchanged.
The CAC 40 tumbled after prime minister Sebastien Lecornu resigned.
President Emmanuel Macron appointed Mr Lecornu, a former defence minister, to the post last month, the third prime minister appointed since snap parliamentary elections in the summer of 024.
But the largely unchanged cabinet Mr Macron unveiled late on Sunday to work with Mr Lecornu sparked fierce criticism across the political spectrum.
Mr Lecornu’s allies in the centre-right Les Republicains indicated they could withdraw from his government because of the number of ministers planned to be included from Mr Macron’s Renaissance party.
“Lecornu was already expected to face a difficult confidence vote later this week but President Macron’s cabinet appointments, which were largely similar to the past government sealed Lecornu’s fate,” said Marc Chandler, chief market strategist at Bannockburn Capital Markets.
Barclays said Mr Lecornu’s resignation now leaves President Macron with two main options: appointing a new prime minister or dissolving the National Assembly.
Financial services took the brunt of the falls, with Societe Generale down 4.2%, BNP Paribas down 3.2%, AXA down 2.3% and Credit Agricole down 3.4%.
But losses were widespread. Car maker Renault fell 1.6%, Gucci owner Kering dipped 1.8% and retailer Carrefour declined 1.7%.
The yield on French 10-year bonds rose six basis points to 3.57%, while the euro traded lower.
The euro stood at 1.1706 dollars at the time of the London equity market close on Monday, compared with 1.1741 dollars on Friday.
Kathleen Brooks, research director at XTB said once again, France is “rudderless” politically speaking, which is also weighing on the stock market.
“While the political situation may not directly impact these companies, the fact that France’s largest and most prestigious companies are getting sold off today is a sign that investors are offloading French assets on a broad basis, and the risk is that this causes contagion elsewhere,” Ms Brooks said.
The pound was quoted slightly higher at 1.3471 dollars compared with 1.3469 dollars on Friday. Against the yen, the dollar was trading at 150.07 yen, higher compared with 147.43 yen.
Stocks in New York were mixed at the time of the London close. The Dow Jones Industrial Average was down 0.1%, the S&P 500 index was 0.3% higher and the Nasdaq Composite 0.5% to the good.
The yield on the US 10-year Treasury was quoted at 4.16%, stretched from 4.11% on Friday. The yield on the US 30-year Treasury stood at 4.76%, widened from 4.70%.
Advanced Micro Devices soared 27% after it announced a deal with OpenAi which could see the ChatGPT maker take a 10% stake over time.
Under the agreement, San Francisco-based OpenAi has agreed to purchase graphics processing units from AMD with a total power consumption of six gigawatts.
The first 1GW deployment of AMD Instinct MI450 GPUs is set to begin in the second half of 2026.
As part of the agreement, AMD has issued OpenAI a warrant for up to 160 million shares of AMD common stock, roughly 10% of the firm, structured to vest as specific milestones are achieved.
On London’s FTSE 100, Mondi plunged 16% as it revealed profitability dwindled in the third quarter of this year thanks mainly to softer volumes and weaker prices.
The Weybridge-based packaging firm saw its underlying earnings before interest, taxes, depreciation and amortisation drop 19% to 223 million euros for the third quarter of 2025 from 274 million euros in the second quarter, but was flat compared with the third quarter last year.
Jefferies said this was 11% below its “already cut” forecast of 250 million euros and implies 10% reductions to 2025 Ebitda forecasts.
“The profit warning was worse than we had expected,” analysts at Jefferies wrote.
A fresh surge in the gold price boosted Fresnillo, up 1.2%, and Endeavour Mining, up 2.8%.
Gold traded at 3,957.68 dollars an ounce on Monday, breaching 3,900 dollars an ounce mark for the first time, and up against 3,885.67 dollars on Friday.
The yellow metal was lifted by safe-haven demand as investors braced for a protracted US government shutdown.
Brent oil traded at 65.43 dollars a barrel on Monday, up from 64.61 dollars late on Friday, supporting BP, which rose 2.1%.
On the FTSE 250, Aston Martin hit reverse, down 10%, as it reported a lower full-year outlook for 2025, hurt by US tariff uncertainty and weakened demand.
The Warwickshire-based luxury car maker now expects total wholesale volumes for the full year to decline by mid-high single-digit percentage from 6,030 in 2024.
In addition, Aston Martin expects adjusted earnings before interest and tax “to be below the lower end of the range of market consensus … driven by the weaker volumes and pressure on the gross margin per vehicle”, the minimum estimate currently being a £110 million loss, “and no longer expects positive free cash flow generation in (the second half)”.
“Reduced 2025 expectations may clear the decks for a better 2026, but this remains a show-me story for investors,” analysts at Citi said.
The biggest risers on the FTSE 100 were Prudential, up 28.5p at 1,039.0p, Endeavour Mining, up 86.0 pence at 3,198.0p, BP, up 9.05p at 432.8p, Admiral, up 62.0p at 3,330.0p and Glencore, up 6.0p at 353.7p.
The biggest fallers on the FTSE 100 were Mondi, down 167.4p at 879.6p, Kingfisher, down 6.0p at 301.7p, BAE Systems, down 39.0p at 2,016.0p, Diageo, down 33.5p at 1,760.0p, and IMI, down 40.0p at 2,310.0p.
Tuesday’s global economic calendar has the Halifax house price index in the UK and trade figures in Canada.
Tuesday’s UK corporate calendar has full year results from veterinary services provider CVS Group, and half year numbers from fishing tackle and equipment retailer Angling Direct.
Contributed by Alliance News.
Business
Toothbrush packs to go to ‘most vulnerable’ in North Northants
Toothbrush and toothpaste packs worth a combined £20,000 are to be given to foodbanks and other organisations for distribution to vulnerable people.
North Northamptonshire Council said the funding from Northamptonshire NHS Integrated Care Board would help people “who need it the most” fight tooth decay.
Martin Langford, Corby Foodbank’s manager, said the packs would “make a real difference to how people look and feel”.
Brian Benneyworth, the Reform UK council’s executive member for health and leisure, said: “These toothbrushing packs are a simple but powerful way to help those who are most vulnerable, providing not just the tools but the dignity of self-care.”
Mr Langford said: “Access to basic hygiene items, such as toothbrush packs, is often underestimated but they make a real difference to how people look and feel.
“It strengthens our ability to reach those most in need and ensures we can continue making a positive impact within the community.”
Jane Bethea, director of public health, communities and leisure at the council, said: “Poor oral health is a major public health concern and can have a negative impact on our overall health and wellbeing and affect what we eat, how we communicate and our self-confidence.”
Guidelines recommend that people brush their teeth twice at day. Poor dental hygiene can led to tooth decay and gum infections, which can lead to tooth loss and gum disease.
Mr Benneyworth said: “Under current financial pressures, due to the cost of living crisis, some households are having to make very difficult choices about what they can and cannot buy.
“In these situations, items such as new toothbrushes and toothpaste could be seen as less important than essentials such food and heating.”
Business
Nifty, Sensex Continue Rally For Second Week Despite FII Outflows
New Delhi: Indian equity benchmarks made marginal gains for the second week, supported by stronger second quarter (Q2) earnings, easing inflation and optimism around the India-US trade negotiations. Benchmark indices Nifty and Sensex edged higher 0.68 and 0.50 per cent during the week to close at 26,068 and 85,231, respectively.
Analysts said that a moderation in FII selling due to expectations of earnings upgrades in H2 FY26 also supported the rally. However, markets turned volatile on Friday amid weak global cues. The Nifty fell after failing to cross its previous all-time highs of 26,277, ending its two-day advance.
Broader indices underperformed, with the Nifty Midcap100 and Smallcap100 ending the week down 0.76 per cent and 2.2 per cent, respectively. Though IT stocks faced selling pressure due to weakness in the US tech shares, it was the biggest weekly gainer. Nifty Auto and Services followed as the secoral gainers during the week. On Friday, metals and realty were the worst hit, both dropping over 2 per cent, followed by PSU banks, financial services and media.
A better-than-expected non-farm payroll dimmed hopes of a US Federal Reserve rate cut in December putting pressure on global equities. Resultantly gold also witnessed selling pressure while INR declined to a new low. The oil prices declined due to the US’s renewed push for a Russia-Ukraine peace proposal.
“The market may witness some profit booking in the near term if the pressure on Indian rupee persists. In the week ahead, investors will also have a close vigil on trade developments and economic data like IIP and Q2 FY26 GDP data to get the market direction,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Analysts said that they expect markets to remain firm next week supported by buying on dips, improving demand outlook in Q3 and resilient flows.
Business
Labour codes to usher in uniformity, clarity – The Times of India
In a landmark move set to reshape India’s labour landscape, govt notified the implementation of all four labour codes, bringing into effect one of the most ambitious labour reforms in the country’s post-independence history. The rollout marks the realisation of “One India, One Law”- a unified labour framework that replaces a century of fragmented statutes with a consolidated, modern regulatory system. The four legislations cover various aspects of wages, social security, occupational safety, health and working conditions and employee relations aspects.Together, these codes subsume 29 central labour laws into a single legal structure aimed at improving transparency, reducing compliance complexity and enabling uniformity across states. Under the earlier system, overlapping definitions, varying state amendments and multiple registrations created operational hurdles for both employers and workers. The new framework introduces standardised definitions, rationalised thresholds and digitised processes intended to streamline compliance across the country.While the codes are now in force nationwide, supporting rules under both central and state jurisdictions are still to be notified. The press release issued by govt clarifies that they would engage with the public and stakeholders in the development of rules, regulations, and schemes under the new codes. Additionally, to ease the transition, the release confirms that the relevant provisions of existing labour laws will remain in force during the transition period.Changes for industryThe implementation of the labour codes will fundamentally reshape workforce management across industries. By introducing a uniform definition of wages, organisations will face greater clarity in benefit calculations for gratuity, ESI, leave encashment, overtime and statutory bonus, reducing litigation risk but potentially increasing employment costs. This change demands a thorough review of salary structures and payroll systems to ensure compliance. Additionally, the broader definition of ‘worker’ will extend entitlements such as overtime, leave encashment, and retrenchment compensation to a wider employee base, requiring companies to reassess classifications and related policies.Changes for workersFor workers-particularly those in the unorganised, gig and platform sectors-the reforms mark an unprecedented expansion of protections. The code on wages ensures a statutory minimum wage for all categories of workers and prohibits gender-based wage discrimination. The Social Security Code extends benefits to gig workers, platform workers and fixed-term employees for the first time. A national database of unorganised workers and a dedicated Social Security Fund aim to enable targeted delivery of welfare benefits. The OSH Code enhances workplace safety norms, regulates working conditions and ensures portability of benefits for migrant workers.A new chapter for India’s labour ecosystemThe enforcement of the labour codes marks a pivotal moment in India’s economic reform journey. If implemented effectively, the unified framework promises greater transparency, stronger worker protections and a more predictable regulatory environment for businesses. While final state rules and clarifications are awaited, Friday’s notification marks the beginning of a new chapter – one where India’s labour laws, finally, speak in a single, coherent voice.(The writer is partner, people advisory services – tax, EY India)
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