Weekly review
By Benjamin Chiou
Date: Friday 30 Oct 2026
(Sharecast News) - The FTSE 100 closed Friday's session at 10,729.78, finishing the week up 0.4%.
Equity view
Computacenter raised its full-year guidance after stronger-than-expected third-quarter trading, driven by robust demand for technology sourcing and services in North America and the UK. The technology services group now expects adjusted pre-tax profit of at least £425m, around 10% ahead of the previous market consensus of £387.1m, while its committed product order backlog reached a record £12.6bn.
HSBC reported a 32% increase in third-quarter pre-tax profit to $9.63bn, while revenue rose 5% to $18.62bn, although both figures fell slightly short of analysts' expectations. Net interest income increased 6% to $9.3bn, while the bank announced a further $1bn share buyback despite a sharp fall in its shares following the results.
Reckitt Benckiser cut its full-year sales guidance after third-quarter trading missed expectations, with like-for-like revenue at its core business rising 3.3% to £2.69bn, below forecasts of 3.6% growth. The consumer goods group now expects full-year core revenue growth of 3.5% to 4.5%, down from 4% to 5% previously, citing manufacturing constraints affecting Lysol in North America and weaker demand for vitamins and supplements in China.
Standard Chartered raised its full-year income and returns guidance after reporting a 27% increase in third-quarter pre-tax profit to $2.25bn, ahead of forecasts of $1.99bn. Operating income grew 14% to $5.8bn, supported by strong performances in Wealth Solutions and Global Markets, prompting the bank to lift its return on tangible equity forecast to around 14% from more than 12%.
GSK reported a 5% increase in third-quarter sales at constant currencies to £8.89bn, driven by a 15% jump in speciality medicines revenue to £3.9bn. Core operating profit rose 5% to £3.08bn, although reported operating profit fell 16% to £2.13bn, partly reflecting £328m in restructuring charges, as the pharmaceutical group reaffirmed its full-year guidance.
Unilever upgraded its full-year outlook after reporting third-quarter underlying sales growth of 5.2%, comprising volume growth of 2.9% and price increases of 2.3%. Turnover rose 6.7% to €13.3bn, supported by strong performances in emerging markets and its Home and Personal Care businesses, while its quarterly dividend increased 3%.
Shell reported a doubling of third-quarter adjusted earnings to $10.8bn from $5.4bn a year earlier, beating forecasts of $10.3bn as record refining margins boosted profitability. The oil giant said its indicative refining margin jumped to $42 a barrel from $24 in the second quarter, while it announced a further $5bn share buyback programme as shares rallied.
Lloyds Banking Group reported a near-doubling of third-quarter pre-tax profit to £2.3bn from £1.2bn a year earlier, broadly in line with market expectations, as net interest income increased 10% to £3.8bn. The lender reaffirmed its full-year guidance, forecasting underlying net interest income above £14.9bn and return on tangible equity above 16%, while remediation charges fell sharply to £22m from £875m.
Haleon shares tumbled after the consumer healthcare group cut its full-year organic revenue growth guidance to around 2.5% from 3% to 5%, citing weaker-than-expected cold and flu sales. Third-quarter organic revenue rose 2.6%, including an 8.8% increase in Oral Health sales to £930m, although European revenue declined 0.6% and soft demand weighed on North American trading.
IMI raised its full-year adjusted earnings per share guidance to 137p-143p following resilient third-quarter trading and a stronger contribution from Truflo Marine ahead of its disposal. Organic revenue increased 2% against a tough comparative period, supported by double-digit growth in climate control and an 11% rise in life technology revenue, while process automation orders jumped 19%.
WPP reaffirmed its full-year guidance after reporting a 0.5% increase in third-quarter revenue to £3.3bn, although revenue less pass-through costs fell 2% to £2.4bn. The advertising group said year-to-date revenue less pass-through costs declined 4.4% to £7.2bn, but maintained its forecast for a full-year headline operating margin of 12% to 13%.
BP reported a sharp increase in third-quarter underlying replacement cost profit to $8.46bn from $2.21bn a year earlier, comfortably exceeding expectations of $7.33bn as higher refining margins and stronger gas trading lifted earnings. Operating cash flow jumped to $14.8bn from $7.8bn, helping the oil major cut net debt by $8.4bn to $13.9bn.
AstraZeneca reported a 7% increase in revenue at constant exchange rates to $46.88bn for the first nine months, driven by double-digit growth in oncology, respiratory and immunology, and rare diseases. Core earnings per share rose 14% to $8.00, while the pharmaceuticals group unveiled a $1.5bn cost savings programme and reaffirmed its full-year guidance.
Tesco agreed to sell its operations in the Czech Republic and Slovakia to Dutch supermarket group Ahold Delhaize in a €1.7bn deal, as the UK's largest grocer continued to reshape its international business. The disposal will allow Tesco to concentrate investment on its core markets and simplify its operations.
NatWest shares slumped after the lender reported a 1.9% increase in third-quarter operating pre-tax profit to £2.23bn from £2.18bn, representing the weakest earnings growth among the major UK banks to have reported so far this season. Profit attributable to ordinary shareholders fell to £1.5bn from £1.6bn, while the bank revealed further workforce reductions under its efficiency programme and maintained its full-year guidance.
Airtel Africa reported a 20.5% increase in first-half profit after tax to $452m from $376m, while revenue jumped 28.2% to $3.82bn amid strong demand for mobile data and mobile money services. Underlying EBITDA rose 32.8% to $1.92bn, with its customer base increasing 11.6% to 193.9 million and mobile money customers growing 22.4% to 60.9 million.
UK economic news
UK retail sales continued to decline in October, although the pace of contraction eased to its slowest in 18 months, according to the Confederation of British Industry. The figures nevertheless pointed to continued pressure on consumer spending as retailers prepared for the crucial Christmas trading period.
UK shop price inflation climbed to its highest level in two and a half years, according to the British Retail Consortium, reflecting the continued impact of higher energy and transport costs. The figures added to concerns about persistent inflationary pressures across the retail sector and the potential implications for consumer spending.
Mortgage approvals in the UK fell more sharply than expected in September, according to Bank of England figures, signalling further weakness in housing market activity. The data suggested higher borrowing costs and economic uncertainty were continuing to weigh on demand for home loans.
Chancellor John Healey unveiled his first Autumn Budget, including a one-off £100 energy payment and tax increases aimed at supporting the public finances while easing cost-of-living pressures. The bank surcharge will double to 6% from 3%, below the 8% investors had feared, prompting gains in banking shares, while housebuilders fell as measures aimed at first-time buyers disappointed markets.
UK house price growth slowed to its weakest annual rate since January 2024, according to Nationwide, with prices rising just 0.5% year-on-year in October compared with 0.8% in September. On a monthly basis, prices were unchanged following a 0.3% decline in September, leaving the average property price at £273,566.
International events
Meta Platforms unveiled plans for a $95bn equity raising to support its expanding artificial intelligence infrastructure programme, highlighting the scale of investment being committed to AI development. The announcement added to investor scrutiny of major technology companies' capital expenditure plans and the potential returns from AI infrastructure.
China's industrial companies reported solid profit growth over the first nine months of the year, according to official figures, supported by stronger performances in electronics and high-technology manufacturing. The data offered some encouragement for the industrial sector despite continued concerns about the broader economic outlook.
The US Federal Reserve left interest rates unchanged at a range of 3.75% to 4%, following its quarter-point increase in September, as policymakers continued to assess persistent inflationary pressures. Two members of the rate-setting committee dissented in favour of a further 25-basis-point increase, highlighting divisions over the appropriate pace of monetary tightening.
The European Central Bank left its deposit rate unchanged at 2.5%, as expected, while warning that elevated energy prices continued to pose upside risks to inflation and downside risks to economic growth. Investors were also digesting the announcement that president Christine Lagarde would step down in February 2027, ahead of the scheduled end of her term.
US economic growth accelerated to an annualised 3.4% in the third quarter from 2.2% in the preceding three months, beating consensus forecasts of 3.1%. Growth was supported by resilient consumer spending and strong business investment, particularly in artificial intelligence infrastructure.
The Federal Reserve's preferred inflation measure remained elevated, with the annual headline personal consumption expenditures price index rising to 3.6% in September. Core PCE inflation stood at 3.1%, remaining well above the central bank's 2% target and underlining the challenge facing policymakers.
The Bank of Japan left its benchmark interest rate unchanged at 1.25% following an 8-1 vote, with board member Hajime Takata calling for a further quarter-point increase to 1.5%. The central bank also raised its inflation forecasts and signalled that additional monetary tightening remained possible as price pressures persisted.
The eurozone economy grew 1.3% year-on-year in the third quarter, accelerating from 1.2% in the preceding three months and beating consensus expectations of 1.1%, according to Eurostat. The reading marked the strongest annual expansion since the second quarter of 2025, although quarterly growth slowed to 0.4% from 0.6%, with Germany expanding by 0.2% and Ireland recording the strongest quarterly growth at 5.5%.
Deutsche Bank, BNP Paribas, Santander and UBS were among the European lenders reporting quarterly earnings, prompting a mixed reaction from investors as markets assessed revenue trends, profitability and credit quality. Deutsche Bank benefited from stronger investment banking activity, while results across the sector highlighted contrasting performances in lending, wealth management and trading operations.
Alphabet shares plunged after the Google parent reported weaker-than-expected third-quarter earnings and revenue, adding to concerns about the returns on massive investment in artificial intelligence. The company also reported negative free cash flow of more than $9bn, with its substantial capital expenditure commitments intensifying investor scrutiny of AI infrastructure spending.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN