Global stock markets are experiencing a pre-Christmas rally, with Australia's S&P/ASX 200 up 0.25% and South Korea's KOSPI rising 0.13%. The FTSE 100 is expected to open 56 points higher, despite Vistry's third profit warning this year, which has seen its shares plunge nearly 20%. Investors are optimistic, shrugging off recent economic concerns as they anticipate a Santa rally.
Vistry Group Plc has issued a second profit warning within a month due to cost errors in its South Division, resulting in a £50 million reduction in profit expectations. The total impact is now projected at £165 million, with adjusted profit before tax expected to be around £300 million this year, £50 million lower than earlier forecasts.
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