FTSE 100 hits 9,000 factors for the primary time ever
Newsflash: Britain’s blue-chip inventory index has risen by means of the 9,000 level mark to hit a brand new document excessive.
The FTSE 100 share index hit 9016.98 factors initially of buying and selling in London, up round 0.2% at the moment, taking its features throughout 2025 to over 10%.
That’s a brand new intraday excessive for the “Footsie” (as it’s identified in Metropolis circles).
As covered in the introduction, the London inventory market has benefitted from a variety of things this 12 months, together with a transfer by some traders to diversify away from the US inventory market on account of considerations over Donald Trump’s financial insurance policies.
The Trump commerce struggle has additionally helped UK shares, as Britain is among the few international locations to have reached a commerce deal guaranteeing decrease tariffs.
Key occasions
UK defence corporations have had a robust 12 months on the inventory market, serving to to push the FTSE 100 to a record high this morning.
Defence contractor Babcock’s shares have risen by nearly 120% this 12 months, with BAE Programs up 65%, as Nato members have agreed to increase defence spending.
Engineering agency Rolls-Royce has gained 75%, as its turnaround plan has yielded outcomes.
FTSE 100 hits 9,000 factors for the primary time ever
Newsflash: Britain’s blue-chip inventory index has risen by means of the 9,000 level mark to hit a brand new document excessive.
The FTSE 100 share index hit 9016.98 factors initially of buying and selling in London, up round 0.2% at the moment, taking its features throughout 2025 to over 10%.
That’s a brand new intraday excessive for the “Footsie” (as it’s identified in Metropolis circles).
As covered in the introduction, the London inventory market has benefitted from a variety of things this 12 months, together with a transfer by some traders to diversify away from the US inventory market on account of considerations over Donald Trump’s financial insurance policies.
The Trump commerce struggle has additionally helped UK shares, as Britain is among the few international locations to have reached a commerce deal guaranteeing decrease tariffs.
Thames has reported an increase in air pollution incidents within the final 12 months – they rose to 470 from 350 pollutions within the earlier 12 months.
The corporate admits that decreasing pollutions “continues to be a major problem for us”, and blames moist climate, saying:
Groundwater ranges remained excessive and rainfall was above common, albeit not on the severity we noticed within the earlier 12 months. Extended moist climate meant additional rain had nowhere to go apart from to inundate our ageing and fragile sewer community.
Decreasing pollutions and discharges is one thing we’re actually centered on, and we plan to speculate document quantities in our waste community throughout the subsequent 5 years.
CEO Chris Weston was paid simply over £1m for operating Thames final 12 months, regardless of lacking out on a bonus.
Immediately’s annual report exhibits Weston acquired complete pay of £1.035m, together with a wage of £850,000 plus pension advantages of £102,000. He didn’t obtain any ‘variable’ pay, although.
The administrators’ remuneration report explains:
Because of air pollution incidents efficiency, in addition to the credit score downgrading in 2024/25, which resulted within the Firm now not holding two funding grade scores, the cost of a performance-related pay award to Chris Weston, for the 2024/25 monetary 12 months has been prohibited.
In June, the federal government introduced that bonuses for 10 water firm executives in England can be banned with rapid impact over critical sewage air pollution.
Thames Water made a loss final 12 months regardless of an increase in revenues, as clients have been hit by increased payments.
The corporate has reported a £201m enhance in underlying revenues, to £2.603bn.
Thames explains:
This enhance was pushed primarily by rises in our costs for water and wastewater providers, per our allowed regulated income. Our 2024/25 allowed income displays a Client Costs Index together with Proprietor Occupiers’ Housing prices (CPIH) inflation price of 4.2%, regulator-approved “Okay” elements of -4.9% for water and +4.1% for wastewater.
These will increase have been partially offset by historic wholesale and retail End result Supply Incentive (ODI) penalties, which have a two-year lag flowing by means of into income
Thames Water CEO: turnaround will take at the very least a decade
Thames Water’s CEO has admitted it should take “at the very least a decade” to show the corporate round.
Asserting at the moment’s annual report, Chris Weston insists that Thames “made good progress in operational efficiency” in 2024-25, regardless of “the continuing difficult monetary state of affairs”.
Weston provides:
“We invested a document £8.5 billion in infrastructure between 2020 and 2025. We enter the brand new regulatory interval of 2025-2030 in a greater place than we entered the 2020-25 interval with leakage at its lowest ever degree, down by 13.2% since 2020. A defining second final 12 months was the connection of the £4.5 billion Thames Tideway Tunnel to our London community supporting the discount in sewage coming into the tidal River Thames by 95%.
We recognise that our present gearing is just too excessive and, to deal with this, we’re progressing with our Senior Collectors’ plan to recapitalise the enterprise which is able to see us return to a extra secure monetary basis. It will include a requirement to re-set the regulatory panorama and acknowledge it should take at the very least a decade to show Thames round.”
Right here’s a chart from Thames’s annual report, exhibiting its monetary efficiency within the 12 months to 31 March 2025.
Thames Water experiences £1.6bn loss
Newsflash: Troubled utility firm Thames Water has reported a lack of over £1.6bn for final 12 months, hours earlier than its high executives are on account of be grilled by MPs.
Thames’s annual report, simply launched, exhibits it made a complete loss earlier than tax of £1.647bn within the 2024/25 monetary 12 months, down from a £157m revenue earlier than tax in 2023/24.
Thames blames this whacking loss on a variety of ‘distinctive expenditure’, together with fines imposed by the regulator and prices related to its restructuring plan as the corporate tried to keep away from collapse.
Its annual report cites:
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£1,271 million of anticipated credit score loss provision recognised in opposition to the intercompany mortgage receivable from TWUL’s rapid mum or dad firm, Thames Water Utilities Holdings Restricted. This steadiness is absolutely supplied for, as it’s not deemed recoverable
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£285 million of remarkable financing prices, together with consent charges associated to our restructuring plan
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£122 million of provisions raised for fines because of Ofwat investigations
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£65 million of charges for advisors supporting within the fairness increase course of and steadiness sheet restructuring course of
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£33 million of turnaround and transformation expenditure
Even with out all these prices, Thames made an underlying loss earlier than tax of £6m, down from a revenue of £204m in 2023/24.
Thames’s chairman, Sir Adrian Montague, says progress has been made in the direction of placing Thames Water on a extra secure platform.
We stay of the view {that a} market-led resolution is in one of the best pursuits of our clients, UK taxpayers and the atmosphere, and it’s testomony to our those that we’re transferring ahead with our recapitalisation and operational turnaround. It hasn’t been a simple path to get right here, and we nonetheless face vital challenges, however we’re transferring in the precise route.
Regardless of the massive scrutiny we’re underneath, our groups have remained centered on the enterprise priorities and the supply of our important providers.
Montague might be quizzed by parliament’s EFRA Committee at the moment, together with CEO Chris Weston and non-executive director Ian Pearson.
Introduction: FTSE 100 might hit 9,000 factors at the moment
Good morning, and welcome to our rolling protection of enterprise, the monetary markets and the world financial system.
Britain’s inventory market might enter uncharted territory at the moment.
After touching a document excessive of 8,999 factors final night time, the FTSE 100 is on monitor to rise over the 9,000-point mark for the primary time at the moment.
2025 has already been a robust 12 months for the Footsie, which has gained 10% because the begin of this 12 months.
Shares in London have benefited from some traders trying to diversify their holdings past the US market, on account of considerations over Donald Trump’s policymaking.
Rising confidence that Trump will again down and agree commerce offers (the TACO trade) has additionally helped markets because the president’s tariff u-turn in April.
The FTSE 100 has additionally benefited from the latest weak spot of the pound, which pushes up the worth of multinational corporations with abroad earnings. Extra nervous merchants may have discovered its defensive shares engaging.
The UK’s commerce take care of the US has additionally bolstered confidence in British corporations, at a time when Europe is being threatened with a 30% tariff from April.
AJ Bell funding analyst Dan Coatsworth says the UK has come out triumphant, explaining:
Not solely has it acquired the framework of a (restricted) commerce deal within the bag, however its inventory market has proven muscle within the wake of the EU worries. Its plethora of defensive industries have gained over traders as soon as once more, with utilities, healthcare and grocers among the many high risers on the FTSE 100.
“The UK inventory market is the calming cup of tea and biscuit in an unsure world. There’s nothing fancy on supply, simply dependable names that do their job day in, day trip. That’s an underrated attribute and a motive why traders are lastly warming to the UK inventory market’s enchantment in 2025.”
The futures market signifies the FTSE 100 will open increased, over that 9,000-point mark.
In opposition to the European development, FTSE 100 bounced yesterday on price reduce optimism, led additionally by a rally by some mining shares. Wall Road trod water, due to Trump’s irrational tariff struggle – Opening calls FTSE circa +13 factors at 9011, DJIA circa -23 factors at 44436 at 5.36am
— David Buik (@truemagic68) July 15, 2025
The agenda
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9.30am BST: Chancellor Rachel Reeves to announce ‘Leeds’ reforms of economic providers
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10am BST: The EFRA Committee will query Thames Water’s Sir Adrian Montague, Chris Weston, and Ian Pearson
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10am BST: ZEW index of eurozone financial sentiment
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10.15am BST: Officers from the Workplace for Price range Accountability seem earlier than the Treasury Committee
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1.30pm BST: US inflation report for June
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2:30pm BST: The Enterprise and Commerce Committee maintain listening to with regulators, together with FCA and Ofwat
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Tonight: Mansion Home speeches
