Business
FTSE 100 nudges higher but weak data dents pound
The FTSE 100 posted modest gains on Tuesday, outperforming European and US peers, while weak UK data put sterling under pressure.
The FTSE 100 index closed up 9.90 points, 0.1%, at 9,452.77. The FTSE 250 ended 36.14 points lower, 0.2%, at 22,028.18, and the AIM All-Share dropped 2.91 points, 0.4%, to 789.56.
The UK unemployment rate unexpectedly rose in the three months to August, numbers showed.
According to the Office for National Statistics, the jobless rate was 4.8% in the three months to August, rising from 4.7% in the three months to July.
It had been expected to stay at 4.7%, according to consensus cited by FXStreet.
The ONS said payrolled employees in the UK fell by 93,000 on-year in August alone but did rise by 10,000 on-month.
In the early estimate for September, which the ONS warns is likely to be revised, payrolled employees fell by 100,000 on-year and by 10,000 on-month to 30.3 million.
Annual growth in regular earnings, so excluding bonuses, was 4.7% in the three months to August, easing from 4.8% in the three months to July. The figure landed in line with consensus.
Deutsche Bank’s chief UK economist Sanjay Raja said “one thing is clear, slack continues to build in the labour market”.
“Wage pressures are easing on the back of softening labour market and hiring plans remain stalled,” he added.
“Bottom line, we continue to think that a [fourth quarter 2025] rate cut may be underpriced by markets. We hold on to our view for a December 2025 rate cut.”
Citi said the jobs and wage growth figures add to its conviction that Bank of England meetings in November and December are “live”.
“Inflation data next week will be an important test with an undershoot likely to trigger further repricing towards an additional cut this year,” the broker said.
Elsewhere, a leading policymaker at the Bank of England warned that there is a “rising” risk that the UK economy could see a “more forceful downturn” because of higher borrowing costs.
Alan Taylor, a member of the central bank’s nine-strong Monetary Policy Committee, said there was a small but growing chance that the UK will witness negative growth and “recession dynamics start to kick in”.
He cautioned that it is “increasingly likely” that the UK economy will fall into a “weakened state for a sustained period”, with inflation sliding below target levels.
He said he believes this could lead to “undue damage” to economic activity in the UK.
The pound was quoted lower at 1.3294 US dollars at the time of the London equity market close on Tuesday, compared to 1.3331 US dollars on Monday.
The euro stood at 1.1591 US dollars, higher compared to 1.1569 US dollars. Against the yen, the dollar was trading at 151.83 yen, lower compared to 152.30 yen.
In European equities on Tuesday, the CAC 40 in Paris closed down 0.2%, while the DAX 40 in Frankfurt ended 0.6% lower.
Stocks in New York were down at the time of the London close. The Dow Jones Industrial Average was down 0.2%, the S&P 500 was 0.5% lower, while the Nasdaq Composite declined 0.9%.
Wall Street’s drop came despite strong third quarter results from investment banks JPMorgan, Goldman Sachs and Citi, which all beat market expectations.
Citi climbed 1.2%, but JPMorgan fell 2.0% and Goldman Sachs dropped 2.8%.
JPMorgan chief executive Jamie Dimon cautioned: “There continues to be a heightened degree of uncertainty stemming from complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices and the risk of sticky inflation.”
The yield on the US 10-year Treasury was quoted at 4.05%, widened from 4.04% at the time of the London equities close on Monday. The yield on the US 30-year Treasury stood at 4.64%, stretched from 4.62%.
On the FTSE 100, easyJet climbed 8.0% as Italian daily Corriere della Sera reported shipping firm Mediterranean Shipping is among those mulling investing, or taking full control of the budget carrier.
MSC is working in tandem with an investment fund, Corriere said, citing three sources familiar with the matter.
EasyJet is “landing on the desks of several individuals” interested in investing in it, Corriere reported.
Bookmaker Entain climbed 1.8% as its US joint venture BetMGM reported a strong third quarter, with first-half momentum continuing and full-year guidance raised.
Owing to the strong performance full-year net revenue guidance for BetMGM was lifted to at least 2.75 billion US dollars from 2.7 billion US dollars, and Ebitda is now anticipated at approximately 200 million US dollars, from at least 150 million US dollars.
But IMI fell 0.9% as RBC Capital Markets lowered to “sector perform” from “outperform”.
The downgrade reflects “valuation, rather than a fundamental change in our view”, RBC analyst Mark Fielding explained, noting IMI is a “high quality” business.
He pointed out IMI shares are up 26% year-to-date while he also feels the firm cannot avoid some impact from wider end market uncertainties.
On the FTSE 250, Mitie jumped 14% as it upgraded operating profit guidance and launched a new £100 million share buyback, following solid first-half revenue growth and continued progress with the integration of its recent Marlowe acquisition.
Housebuilder Bellway firmed 5.3% after announcing a £150 million share buyback and reporting a 21% increase in annual pre-tax profit as revenue climbed 17%.
But Morgan Advanced Materials dropped 6.6% after its second downbeat trading update in three months, warning of increasing uncertainty in European industrial markets.
Gold traded at 4,141.29 US dollars an ounce on Tuesday, up from 4,093.56 US dollars on Monday. Brent oil traded at 61.87 US dollars a barrel, down from 63.40 US dollars late Monday.
The biggest risers on the FTSE 100 were easyJet, up 37.2p at 501.2p, Persimmon, up 30.0p at 1,199.0p, Berkeley Group, up 94.0p at 4,034.0p, Next, up 250.0p at 12,635.0p and Centrica, up 3.15p at 173.0p.
The biggest fallers on the FTSE 100 were Spirax, down 285.0p at 6,645.0p, Anglo American, down 84.0p at 2,915.0p, Croda, down 76.0p at 2,662.0p, Antofagasta, down 69.0p at 2,758.0p and Weir Group, down 54.0p at 2,794.0p.
Wednesday’s global economic diary has inflation data in China overnight, eurozone industrial production figures and the US Beige Book.
Wednesday’s UK corporate calendar has a trading statement from recruiter PageGroup and bingo and casino operator Rank.
Contributed by Alliance News
Business
Your FDs, RDs, SIPs Are Growing, But Are They Useless? The Biggest Mistake 90% Don’t Even Notice
Personal Finance Tips: Most of us keep saving money through fixed deposits (FDs), recurring deposits (RDs), provident fund (PF) accounts or systematic investment plans (SIPs) without giving it the thought it actually deserves. The bank deduction goes through, the balance inches up, the graph rises and everything looks fine on the surface.
But underneath this rhythm sits a truth that people are saving diligently without knowing what that money is supposed to do for them. This is a money trap that almost everyone walks into.
Investments keep running, but the purpose disappears. The amounts grow, but the “why” behind them turns vague. Once that emotional connection breaks, the whole act becomes routine and lifeless.
Why Does This Happen?
Most people say they are saving for retirement or putting money aside for the future. These answers sound responsible but reveal very little. What does retirement look like? What kind of future are we imagining? When the mind cannot see a clear picture, it refuses to bond with the goal. That is when investing becomes a cold task.
FDs continue because they have always existed. SIPs continue because the automatic deduction is fixed. After a point, this cycle becomes tiring. Savings continue, but the inner reason for saving slips out of sight.
Purpose Mapping
Purpose Mapping reminds you that money is not meant to lie dormant but to support the kind of life you want. It brings your financial decisions back into your emotional world.
Instead of thinking in numbers, you begin by imagining how you actually want your daily life to look. A person may say, “I want the freedom to shift to a smaller town by the age of 45,” or “I want to be able to take a six-month career break without fear or stress,” or even, “If something serious happens at home, I should not feel helpless.”
These statements breathe. They feel real because you can see them unfolding.
Once these lived goals come into focus, the structure of your investments naturally aligns with them. The SIP you invest in each month becomes the cushion for a future career pause. The FD becomes a tool for near-term needs. The emergency fund becomes a source of mental peace rather than an afterthought. At this stage, you are no longer saving out of habit; you are investing with intention.
The emotional link becomes even stronger when each part of your financial plan is tied to a feeling (freedom, safety, peace or control). When money stands for something human, the motivation behind saving never dries up. And when you keep your goals visible, sometimes literally, sometimes in the back of your mind, the process becomes far easier. You no longer feel that you are losing money to deductions; you feel that every deduction is building a specific life.
Life keeps changing, and so should your goals. A review every year helps your investments change in step with you. When your plans move with your life, saving no longer feels like a burden. It becomes a way of staying ready for the life you want to live.
Business
American Eagle stock jumps 10% as it expects a big holiday, raises forecast after Sydney Sweeney ads
An American Eagle advertisement featuring actress Sydney Sweeney on a billboard in Times Square in New York, US, on Thursday, Aug. 7, 2025.
Michael Nagle | Bloomberg | Getty Images
American Eagle issued bullish holiday guidance and raised its full-year forecast on Tuesday after posting better-than-expected quarterly results.
The apparel company is expecting fiscal fourth quarter comparable sales to grow between 8% and 9% – about four times better than the 2.1% analysts had anticipated, according to StreetAccount.
American Eagle is now expecting its full year adjusted operating income to be between $303 million and $308 million – up from its previous range of $255 million to $265 million.
American Eagle shares rose as much as 15% in extended trading.
The company beat third-quarter expectations on the top and bottom lines.
Here’s how American Eagle did during the quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: 53 cents vs. 44 cents expected
- Revenue: $1.36 billion vs. $1.32 billion expected
The company’s reported net income for the three-month period that ended Nov. 1 was $91.34 million, or 53 cents per share, compared with $80.02 million, or 41 cents per share, a year earlier.
Sales rose to $1.36 billion, up about 6% from $1.29 billion a year earlier.
The results are the first time investors are seeing a full quarter of impact from American Eagle’s splashy campaigns with Sydney Sweeney and Travis Kelce.
Companywide, American Eagle saw comparable sales grow 4%, better than the 2.7% analysts had expected, according to StreetAccount. While the business’s overall results topped expectations, they were primarily driven by Aerie, which saw comparable sales rise 11% and revenue jump about 13%.
At American Eagle, where the campaigns were focused, comparable sales grew just 1%, worse than the 2.1% analysts had expected, according to StreetAccount.
The company told CNBC the campaigns are “attracting more customers” and creating more attention around the brand, but the results show they have not yet been a major revenue driver.
However, they’re not having a major impact on profits, either. During the quarter, American Eagle’s operating margin was 8.3%, better than the 7.5% analysts had expected, according to StreetAccount.
Beyond its marketing campaigns, American Eagle told CNBC it saw record revenue in its third quarter and that “strong momentum” carried into the current quarter, where it saw a “record breaking Thanksgiving weekend.”
The rosy holiday commentary comes after peers like Abercrombie & Fitch, Gap and Urban Outfitters posted better than feared results ahead of the crucial holiday shopping season. Investors have been watching discretionary retailers closely to look for slides in consumer demand because of tariffs, but many have proven resilient so far. They’re showing that for now, higher prices aren’t stopping consumers from shopping, as long as they feel like they’re getting good value for their money.
Industrywide holiday outlooks from outside consulting firms have been relatively murky, but the latest slate of earnings from discretionary retailers have been a positive omen for holiday sales. Plus, turnout during the so-called Turkey 5 shopping weekend, the five day stretch between Thanksgiving and Cyber Monday, was stronger than expected, according to the National Retail Federation.
New Delhi: Credit card spending eased by Rs 2.5 billion in October to Rs 2,142 billion, a moderation of 1.1 per cent month‑on‑month but an increase of 6.1 per cent year‑on‑year, driven by a sharp shift toward point‑of‑sale transactions, a report said on Tuesday.
“The strong POS growth can likely be attributed to festive (Diwali) spending, whereas muted online spends are due to the elevated base of the previous month,” the report from Asit C. Mehta Investment Intermediates Limited said.
Point‑of‑sale transactions grew 22 per cent month‑on‑month and 11.4 per cent year‑on‑year, while online spending declined 12.7 per cent MoM and rose 2.7 per cent YoY. The top 10 banks accounted for 94 per cent of total spending, with HDFC Bank recording the highest MoM spending market share gain in October.
An increase of 6.7 per cent is seen in the total number of cards outstanding on a YoY basis, adding a total of 0.63 million cards, the report said. Transaction volumes saw a healthy growth of 4.6 per cent MoM and 19.2 per cent YoY. The YoY growth is lower than the historical average due to a high base last year.
Since volume growth outpaced spend growth, the average spend per transaction declined by 6 per cent MoM and 11 per cent YoY. With card issuance rising and overall spending remaining flat, the average spend per card declined 1.7 per cent MoM and 0.5 per cent YoY.
IndusInd Bank reported a steep 36 per cent MoM decline in average spend per card, due to a sharp fall of 34 per cent in its total spends. Among major banks, HDFC Bank led with 0.14 million new cards, followed by SBI (0.13mn), ICICI Bank (0.1mn), and Axis Bank (0.08mn). HDFC Bank reported the highest YoY gain of 1.12 per cent.
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Your FDs, RDs, SIPs Are Growing, But Are They Useless? The Biggest Mistake 90% Don’t Even Notice
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