Trainline has seen shares surge higher after it boosted its earnings outlook despite a hit from the Government’s move to expand “tap-in and tap-out” contactless payment across more UK stations.

The online ticketing platform notched up an 8% rise in UK net consumer ticket sales to £2.1 billion in the six months to the end of August, thanks to a bounce back in demand for leisure travel and commuting, and as year-earlier trading was impacted by strike action.

But it said it took a hit from the first phase of the Department for Transport’s rollout of the contactless payment network to more stations, allowing passengers to tap-in and tap-out with bank cards and pay the guaranteed best fare available at that time of day.

Consumer revenues were flat at £107 million, it added.

In spite of this, London-listed Trainline – which also has operations across Europe – said it now expects full-year underlying earnings at the top end of its previous guidance, for between growth of 6% and 9%.

Shares in the FTSE 250 firm soared as much as 13% on Thursday morning trading, as it also cheered investors with plans to bolster returns with up to another £150 million in share buybacks.

Jody Ford, chief executive of Trainline, said: “Trainline has delivered a robust performance in the first half and today announces improved guidance for the full-year alongside an enhanced £150 million share buyback programme.”

He added: “Rail liberalisation in Europe continues to demonstrate the value Trainline brings as the pre-eminent domestic aggregator, most recently in south-east France where increased carrier competition between Paris, Lyon and Marseille has driven second quarter sales growth of 34%.”

In the update ahead of interim results in November, Trainline said overall group revenues lifted 2% to £235 million in the first half, as net ticket sales rose 8%.

The firm said it was keeping guidance unchanged for full-year group-wide growth of 0% to 3% for revenues and 6% to 9% for net ticket sales.

Russ Mould, investment director at AJ Bell, said: “The shares had been weak this year amid concerns about new competitive threats in the UK, but the trading update is a reminder that Trainline is a bigger beast.

“France is acting like a rocket for the company’s sales growth and that is helping to offset pockets of weakness elsewhere.

“The overall tone is upbeat and that’s exactly what the market needed to hear to get the share price moving higher again.”

Last Updated:September 11, 2025, 13:55 IST

Piyush Goyal announced the first tranche of the India-US trade deal should be finalised by November 2025.

Commerce Minister Piyush Goyal (Image: PTI/File)

Union Minister Piyush Goyal on Thursday indicated that the first tranche of the agreement with the United States on a trade deal should be finalised by November 2025.

Speaking at a news conference in Patna, he said, “In February 2025, Prime Minister Narendra Modi and President Trump together instructed us that the ministers of both sides should make a good agreement by November 2025. The first part of that agreement, the first tranche, should be finalised by November 2025, and since March, discussions have been going on on this subject very seriously in a very good environment, progress is being made, and with the progress, both sides are satisfied.”

Earlier, US President Trump in a post on Truth Social had indicated that there was a thaw in the tug of war over tariffs imposed on India, saying that the two countries are continuing negotiations to address trade barriers.

“I am pleased to announce that India and the United States of America are continuing negotiations to address the Trade Barriers between our two nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!” he posted.

Trump’s remark came days after he called the India-US ties a “very special relationship” and affirmed that he and PM Modi would always be friends, asserting that there is “nothing to worry about”.

Prime Minister Narendra Modi then endorsed the US President’s remarks saying that trade talks between India and the United States would help “unlock the limitless potential” of the partnership.

In a post on X, PM Modi said, “India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership. Our teams are working to conclude these discussions at the earliest. I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people.”

New Delhi is facing global uncertainties due to heightened economic tensions following the US imposition of a 50 per cent tariff on Indian imports, including an additional 25 per cent due to its purchase of Russian crude oil, which, according to Washington, fuels Moscow’s efforts in its conflict with Ukraine.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

Read More

Gold prices in Pakistan remained stable on Wednesday, with one tola priced at Rs388,100, following a record high the previous day, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The rate for 10 grams of gold also stayed steady at Rs332,733, reflecting a pause in market fluctuations.

In the international market too, gold remained steady at $3,654 per ounce, hovering close to its all-time high.

Supported by expectations that the US Federal Reserve may resume rate cuts at its upcoming policy meeting after softer-than-expected inflation data.

Silver prices also stayed unchanged, with one tola selling for Rs4,358.

Commenting on the global outlook, Interactive Commodities Director Adnan Agar said gold was “near the low of its all-time high” but its next course would depend on the US inflation data.

“If inflation eases, it will fuel hopes of a Fed rate cut and work in gold’s favour,” he noted.

However, Agar cautioned that gold was overbought, making the market prone to a correction of $80 to $100 before moving towards $3,700.

“If prices continue to rise without a correction, the eventual pullback could be much sharper – possibly in the range of $200 to $250,” he warned.

Spot gold was up 0.5% at $3,644.49 per ounce, as of 11:06 am EDT (1506 GMT), after hitting a record high of $3,673.95 on Tuesday.

According to Reuters. US gold futures for December delivery were up 0.1% at $3,684.10.

US producer prices unexpectedly fell in August, pulled down by a decline in the cost of services, the Labour Department data showed.

Meanwhile, the Pakistani rupee extended its upward streak against the US dollar, posting a slight gain in the inter-bank market.

The local currency closed at 281.60 per dollar, up by a nominal one paisa from the previous day’s close at 281.61.

This marked the rupee’s 24th consecutive session of appreciation against the greenback.

In global markets, the US dollar held steady as investors awaited key US inflation data in the current week, which is expected to shape the Federal Reserve’s upcoming policy decision.

Following a weak jobs report last week that reinforced expectations of a rate cut at the Fed’s September 16-17 meeting, the debate now centres on whether the reduction will be 25 or 50 basis points.

The outcome will hinge on inflation trajectory, particularly the impact of tariffs on US prices.

Producer price inflation figures were due on Wednesday, followed by the consumer price index on Thursday.