Stock market updates: Tesla stocks plunge, ECB maintains interest rates, FTSE 100 achieves new peak
In the world of finance, Bitcoin has remained relatively stable over the past two weeks, despite a more than a fifth increase since the start of the year. Meanwhile, the European Central Bank has kept interest rates at 2%, signalling a steady monetary policy.
On the operational front, several companies have reported their financial results. BT Group, for instance, saw a 10% drop in pre-tax profit to £468m and a 3% decline in adjusted revenue to £4.9bn for the three months ending June 30. Despite the dip, BT shares edged up due to cost-cutting measures and the strong performance of Openreach. BT's group chief financial officer, Simon Lowth, is planning to retire from the business, with Patricia Cobian appointed to succeed him.
Lloyds Bank reported a statutory profit after tax of £2.5bn for the first half of 2025, up 4% year on year, resulting in a nearly one per cent increase in its stock. Consumer goods business Reckitt was a standout winner, with shares up nearly 10% following strong results. However, global market analyst Lale Akoner stated that Reckitt's results were not enough to change the broader picture.
Reckitt now expects like for like net revenue growth to be above four per cent in 'Core Reckitt' brands this year, up from three to four per cent. The company has also upped its dividend by 7% to 19.5p after profits jumped 9% to £1.7bn and revenues climbed 7% to £4.7bn.
Vodafone's stock saw a boost due to a sales boost from its merger with Three, while Centrica posted a steep drop in earnings before interest, tax, depreciation and amortisation, from £1.44bn in the same period last year to £900m for the six months to 30 June.
In the tech sector, ITV shares jumped on a better-than-expected digital performance, with its own streaming platform, ITVX, delivering stellar growth. Aarin Chiekrie, equity analyst at Hargreaves Lansdown, noted that investors are content as numbers weren't as bad as markets expected.
Tesla's global deliveries fell 13.5% year on year, leading to a tumble in Tesla shares by up to 9% in the opening minutes of US trade. The current market analysis for Tesla indicates several key factors affecting its shares, reflecting both challenges and opportunities. The end of US tax incentives, shifting tariffs, and regulatory uncertainty around self-driving cars are significant influences.
In the aviation industry, Wizz Air fell by more than 5% after the company cut back on operating routes.
The FTSE 100 hit a fresh all-time high this morning, with the index up another 55 points to 9,117 in the opening minutes of trade in London. Volumes remain negative, especially in the US, where consumer spending is still under pressure from the high cost of living, according to Lale Akoner.
References: [1] CNBC (2025). Tesla share price: What to watch in the third quarter. [online] Available at: https://www.cnbc.com/2025/07/01/tesla-share-price-what-to-watch-in-the-third-quarter.html [2] MarketWatch (2025). Tesla faces potential hit to profitability as EV tax credits end. [online] Available at: https://www.marketwatch.com/story/tesla-faces-potential-hit-to-profitability-as-ev-tax-credits-end-11633757052 [3] CNBC (2025). Tesla stock: Key levels to watch. [online] Available at: https://www.cnbc.com/2025/07/01/tesla-stock-key-levels-to-watch.html [4] Reuters (2025). Tesla's self-driving car dreams face regulatory uncertainty. [online] Available at: https://www.reuters.com/business/autos-transportation/teslas-self-driving-car-dreams-face-regulatory-uncertainty-2025-07-01/ [5] InvestorPlace (2025). Tesla Stock: 3 Key Levels to Watch. [online] Available at: https://investorplace.com/2025/07/tesla-stock-3-key-levels-to-watch/
- In the realms of personal-finance and investing, the stability of Bitcoin in the past two weeks stands out amidst a more than a fifth increase since the beginning of the year, despite general-news headlines suggesting otherwise.
- The European Central Bank, operating within the finance and banking industry, has opted to keep interest rates at 2%, signalling a steady monetary policy that might impact personal-lifestyle choices and plans.
- In the world of business and economy, several companies have reported their financial results, including BT Group, which experienced a 10% drop in pre-tax profit and a 3% decline in adjusted revenue, although BT shares saw an uptick due to cost-cutting measures.
- Lloyds Bank, a significant player in the finance sector, announced a statutory profit after tax of £2.5bn for the first half of 2025, up 4% year on year, leading to a nearly one percent increase in its stock price.
- Technology, a burgeoning industry these days, has seen ITV shares jump due to a better-than-expected digital performance, with investors content as numbers weren't as bad as markets expected.
- In the tech and business sectors, Tesla's global deliveries dropped 13.5% year on year, resulting in a tumble in Tesla shares by up to 9% in the opening minutes of US trade, with regulatory uncertainty around self-driving cars being one of several key factors affecting its shares.
- The aviation industry experienced a setback when Wizz Air, a major player, fell by more than 5% after cutting back on operating routes. Meanwhile, the FTSE 100, a benchmark of the UK's leading companies, hit a fresh all-time high this morning, despite negative volumes, especially in the US, where consumer spending is under pressure from high living costs, according to market analyst Lale Akoner.
