London stocks ease after recent gains; WPP plunges on profit warning
30/10/2025 12:17
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 down 0.6%, FTSE 250 down 0.7% WPP plunges after Q3 revenue miss and FY profit warning StanChart to hit return target early on robust wealth growth By Avinash P Oct 30 (Reuters) - London-listed stocks fell on Thursday, as investors paused after a recent rally and scrutinized a number of corporate earnings reports from the likes of advertisement group WPP, banking group Standard Chartered and energy giant Shell. The blue-chip FTSE 100 .FTSE was down 0.6% as of 1200 GMT, and was set to snap eight consecutive sessions of gains, while the domestically focused FTSE 250 .FTMC was also down 0.7%. The FTSE 100 rose to record highs this week, boosted by upbeat results from majors HSBC HSBA.L and GSK GSK.L. Supporting the rally were also expectations for an imminent interest rate cut by the U.S Federal Reserve. The U.S. central bank lowered borrowing costs by an expected 25 basis points on Wednesday, but hinted that the rate cut might be the last for this year. "I genuinely believe that we do see some profit taking after hitting all time high levels was (due to) the disappointment that the Fed may not lower the interest rates when it meets next month," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. Earnings in the UK were picking up steam. WPP WPP.L sank 14% to a near two-decade low after new CEO Cindy Rose warned on profit after a downturn at its flagship media buying agency caused a bigger-than-expected drop in third-quarter net revenue. The stock was the worst performer in the FTSE 100. Automobile stocks .FTNMX401010 also took a hit, falling 2.2% after Germany's Volkswagen VOWG_p.DE booked 4.7 billion euro charge due to Porsche'sRecent news on Dr Ing hc F Porsche AG
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