Lloyds Bank Q3 profits fall 36pc, IHG reiterates FY outlook
By Iain Gilbert
Date: Thursday 23 Oct 2025
(Sharecast News) - LONDON PRE-OPEN
The FTSE 100 was expected to open 14.8 points higher ahead of the bell on Thursday after wrapping up the previous session 0.93% firmer at 9,515.00.
STOCKS TO WATCH
Lloyds Bank on Thursday reported a 36% fall in third quarter profits after taking an extra £800m hit from the motor finance scandal. Pre-tax profit for the three months ended 30 September came in at £1.17bn. Lloyds said its "best estimate" of its potential liability over the mis-selling scandal would be almost £2bn. Underlying net interest income rose 7% to £3.4bn.
Holiday Inn owner InterContinental Hotels Group said on Thursday that it remained on track to meet full year profit and earnings expectations after revenue per available room ticked up 0.01% in the three months ended 30 September. IHG also said it had delivered "another strong quarter of development activity", with openings up 17% and signings up 18%.
Consumer goods giant Unilever reiterated its full-year outlook on Thursday, despite "subdued" market conditions. Unilever said turnover rose 3.9% on an underlying basis, to €14.7bn, or by 4% once the soon to be demerged ice cream business was stripped out. Driving the increase was strong growth for Unilever's biggest products - known as its power brands - which saw underlying sales rise 4.4% in the three months, with volume growth ahead 1.7% and prices 2.6%.
NEWSPAPER ROUND-UP
The US has sanctioned Rosneft and Lukoil, Russia's two largest oil companies, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine. The sanctions were the first against Russia since Donald Trump returned to the White House in January, and were targeted to cut key revenues from oil sales that finance the Russian war machine. - Guardian
Despite record vehicle sales, Tesla saw a precipitous drop in profit in its most recent quarter. A rush to buy electric vehicles before a US tax credit for them disappears had boosted Tesla's flagging sales, leading to the automaker exceeding some of Wall Street's projections in its most recent financial quarter. Yet the company failed to meet earnings expectations and its stock fell in after-hours trading. - Guardian
Britain's largest banks and insurers must do more to support the UK defence sector amid growing threats of cyber and military attacks, the financial watchdog said. Nikhil Rathi, head of the Financial Conduct Authority, told City bosses they needed to step up their investment in Britain's rearmament push because the country was unprepared for modern conflicts or cyber attacks. - Telegraph
Sir Keir Starmer is preparing emergency measures to save Sir Sadiq Khan's London housing plans after a slump in construction. Ministers are set to push through a package of changes aimed at improving London's dire housebuilding rate. An announcement could come as soon as Thursday. - Telegraph
The UK government's borrowing costs have fallen to an 11-month low, offering Rachel Reeves a windfall of potentially billions of pounds ahead of next month's budget. The cost of government debt, as measured by the yield on 10-year bonds, dipped to the lowest since December 2024 as official inflation figures came in lower than expected for September, boosting the chances of more interest rate cuts in 2026. - The Times
US CLOSE
Major indices were firmly in the red at the close of trading on Wednesday following the Dow's record close in the previous session.
At the close, the Dow Jones Industrial Average was down 0.71% at 46,590.41, while the S&P 500 was 0.53% at 6,699.40 and the Nasdaq Composite saw out the session 0.93% softer at 22,740.40.
Reporting by Iain Gilbert at Sharecast.com
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