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The FTSE 100 started November on a positive note, with positive annual forecasts from pharmaceutical company GSK and retailer Next Plc contributing to the optimism. The internationally-focused FTSE 100 index saw a gain of 0.25%.British clothing retailer Next led the gains sitting at the top of the blue chip index, with its shares up 4.6%. Next raised its full-year profit outlook for the fourth time in the last six months, citing better-than-expected sales in a third quarter that was heavily impacted by variable weather. The company reported a 4.0% increase in full-price sales in the quarter ending October 28, surpassing its guidance of a 2% rise. Next now anticipates a pretax profit before exceptional items for the year ending January 2024 of £885 million ($1.08 billion), ahead of its previous guidance of £875 million. The company also expressed expectations of easing inflationary pressures in its 2024/25 fiscal year. Year-to-date, Next’s stock has risen by approximately 18%.One the negative side of the ledger, GlaxoSmithKline (GSK) initially saw its shares rise by 2.6% before reversing early gains to turn negative trading down 1.6%. The company has raised its full-year profit and sales forecasts for the second time this year, primarily due to the successful launch of its respiratory syncytial virus (RSV) vaccine. GSK’s Q3 sales of Arexvy reached £709 million ($861.86 million), surpassing estimates of £358 million according to a company-compiled consensus. The company also reported that its Q3 total sales and adjusted profit per share exceeded expectations. GSK’s ability to limit its exposure to COVID-19 medicines has allowed it to offset declining COVID-related revenues with strong growth in other areas, distinguishing it from some of its peers. Year-to-date, GSK’s stock has risen by 1.4%.Endeavour Mining retains the bottom spot on the FTSE today along with a pullback in metals prices today investors remain cautious on the company’s debt position, Endeavour does carry a certain amount of debt on its balance sheet. The key consideration is whether this debt poses a significant risk to the company. As of June 2023, Endeavour Mining’s total debt amounted to US$1.00 billion, which represented an increase from US$885.1 million over the course of one year. However, the company also had US$844.5 million in cash, which offsets a significant portion of its debt. This results in a net debt position of approximately US$159.7 million.
FTSE Bias: Bullish Above Bearish below 7200

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