London stocks pause after recent gains; WPP plunges on profit warning (updated)
30/10/2025 17:17
FTSE 100 flat, 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 Updates after markets close By Avinash P Oct 30 (Reuters) - London-listed stocks were subdued on Thursday as investors paused after a recent rally and scrutinised 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 flat, snapping eight consecutive sessions of gains, while the domestically focused FTSE 250 .FTMC fell 0.77% - its biggest daily loss in two weeks. The FTSE 100 rose to record highs earlier this week, boosted by upbeat results from majors HSBC HSBA.L and GSK GSK.L, while mid-caps had hit their highest in four. Also supporting the rally were expectations of 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 are picking up steam. WPP WPP.L sank 16% 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% 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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