- FTSE 100 up 36 points at 9,390
- AWS drama abates – signs of improvement
- Housebuilders make sluggish start
- B&M slumps after earnings alert
12.30: Reddit still badly affected
Amazon Web Services (AWS) says it has rolled out fixes for a major outage that took down swathes of the internet earlier today, but disruptions are still lingering.
While most sites and apps are recovering, Reddit remains among the hardest hit as AWS works through a backlog of issues.
The outage began around 8am UK time, with reports on Downdetector soaring past 50,000.
Because AWS powers so much of the web, the impact was widespread, affecting everything from Alexa and Prime Video to Snapchat, Venmo, Ring, and Pokémon GO.
Engineers eventually traced the problem to DynamoDB, AWS’s database service that keeps countless apps connected.
Although stability is returning, experts warn the effects could last. As Monica Eaton, CEO of Chargebacks911, put it: “When AWS sneezes, half the internet catches the flu,” adding that merchants could face weeks of payment glitches and customer disputes.
11:51am: Internet services recover after major Amazon outage
Global internet traffic showed signs of recovery on Monday after a widespread outage linked to Amazon Web Services (AWS) disrupted dozens of major websites and apps.
Amazon said it had resolved the issue by late morning, following technical problems in its US-East-1 region, a key data hub in Virginia.
We continue to observe recovery across most of the affected AWS Services. We can confirm global services and features that rely on US-EAST-1 have also recovered. We continue to work towards full resolution and will provide updates as we have more information to share.
The failure, which began around 8am UK time, caused access issues for platforms including Snapchat, Roblox, Signal, and Duolingo, along with Amazon’s own retail site and Ring smart doorbells.
In Britain, users also reported problems with Lloyds, Halifax and Bank of Scotland, as well as the HMRC website.
Cybersecurity specialists said the disruption appeared to stem from a database fault rather than a cyberattack.
Analysts noted that the incident highlights how dependent online services have become on a handful of cloud providers. The UK government said it was in contact with Amazon as systems returned to normal.
11.12am: Tariff truce talk hits a sweeter note
After weeks of discord, the trade soundtrack between Washington and Beijing has shifted from heavy metal to easy listening, at least for now.
According to Deutsche Bank, investors are increasingly betting that President Trump’s threat of 100% tariffs on Chinese goods from November 1 will remain just that: a threat.
Treasury Secretary Scott Bessent is set to meet China’s Vice Premier He Lifeng this week, and Trump told reporters he still expects to meet President Xi in South Korea, adding, “I think we’re getting along with China.” Data from Polymarket now puts the odds of those tariffs taking effect at just 7%.
Deutsche Bank notes that this softening tone has helped lift sentiment across Asia, with equities rallying and US futures edging higher. But the mood stateside is less upbeat.
The US government shutdown has entered its 20th day, key data remains delayed, and all eyes are now on Friday’s postponed inflation print ahead of next week’s Fed meeting.
9.12am: Sluggish start to week for housebuilders after Rightmove data
It was a sluggish start to the week for London-listed housebuilders, with Barratt, Redrow and Berkeley all slipping after another underwhelming read on the housing market.
Rightmove’s latest survey showed asking prices edged up just 0.3% in October, or about £1,100, taking the average to £371,422.
Normally prices jump more than 1% at this time of year, but this autumn’s market is more yawn than yippee.
Sellers are clearly struggling to call the shots. London and the South are dragging their feet, with the capital down 1.4% on the year, while Wales, Scotland and the Midlands are keeping things just about afloat.
Buyers, meanwhile, are in no rush. Mortgage rates have steadied, but most are waiting to see what the Chancellor serves up in next month’s Budget.
With more homes on the market and fewer buyers biting, Rightmove’s message is simple: cut the price or stay put.
8.40am: B&M tumbles on fresh profit warning and CFO exit
B&M shares sank 15% at the open after the discount chain cut its full-year earnings guidance and revealed its finance chief is leaving, the latest stumble in a bruising year for the retailer.
The group uncovered about £7m of overseas freight costs that hadn’t been properly logged following a system update, prompting a downgrade to expected adjusted EBITDA of £470m–£520m, from £510m–£560m.
The accounting slip adds to a string of operational headaches that have seen B&M’s stock slump 48% so far this year, as margins come under pressure and growth slows in its core UK business.
CFO Mike Schmidt will step down once a successor is found, and the board has commissioned an independent review into the error.
The shares have been struggling to regain investor confidence, and today’s setback will do little to convince the market that the worst is behind it.
8.10am: London tinged with green
The FTSE 100 opened 42 points higher, at 9,396.3 on Monday, lifted by a brighter mood across global markets after Donald Trump softened his stance on China, easing fears of another flare-up in trade tensions.
Asian stocks rose strongly ahead of the London open, helped by Trump’s weekend remarks that a planned meeting with China’s Xi Jinping would go ahead and that his threat of 100% tariffs was “not sustainable”.
The two sides also agreed to hold further talks “as soon as possible”, according to Chinese state media.
Tokyo led regional gains, jumping 3.4% to a record high after Japan’s ruling party struck a coalition deal paving the way for Sanae Takaichi to become the country’s first woman prime minister.
Hong Kong climbed than 2.5%, Shanghai advanced, and Seoul, Wellington and Taipei also gained ground.
Investors were further encouraged by stronger-than-expected Chinese GDP data and Friday’s rebound on Wall Street, where US bank shares recovered from heavy losses a day earlier.
The combination set a positive tone for London’s open, with traders eyeing a calmer week after recent volatility.
