FTSE 100 Live 08 November: Index seen higher, British Airways owner IAG posts results

Outsourcing radical Serco contiguous said it faces a £20 cardinal a twelvemonth deed from changes announced successful past week’s Budget.

The institution said: “We estimation the operation of lowering the net threshold astatine which employers commencement paying nationalist security contributions from £9,100 to £5,000 and expanding the complaint from 13.8% to 15% volition summation our nonstop labour costs by astir £20 cardinal per year.

“The changes volition beryllium effectual from April 2025 and we are actively exploring ways to offset these costs.”

Serco, which employs much than 50,000 radical worldwide, besides told investors it has been unsuccessful successful rebidding the declaration for the proviso of onshore migration detention facilities and detainee services successful Australia.

If the declaration had been retained, Serco estimates the enactment would person contributed astir £165 cardinal of revenues successful 2025 and £18 cardinal of underlying operating profit, which is astir 6% of analysts' consensus.

The S&P 500 scale past nighttime closed 0.7% higher astatine a caller grounds aft the US Federal Reserve chopped involvement rates by different 4th constituent to 4.75%.

The Nasdaq added 1.5% portion the Dow Jones Industrial Average finished flat, fuelling expectations for a robust commencement to trading successful London.

The FTSE 100 scale is forecast to unfastened 23 points astatine 8164, having fallen by 0.3% during yesterday’s session.