British equities started Wednesday’s trading session on a positive note, with the FTSE 100 rising nearly 1% by 07:36 GMT. Meanwhile, the British pound regained ground against the dollar, climbing 0.2% to approximately $1.36 after previously dipping amid renewed worries about tariffs.
Across Europe, Germany’s DAX index gained 0.4%, while France’s CAC 40 also rose by 0.4%.
WPP Shares Tumble Over 12% Following Revenue Forecast Downgrade
Advertising giant WPP (LSE:WPP) saw its shares fall sharply after the company reduced its full-year revenue and profit guidance. Weak trading during June led to a steeper than anticipated decline in the first half of 2025.
WPP now expects its 2025 like-for-like revenue, excluding pass-through costs, to decline between 3% and 5%, a marked revision from its earlier forecast of flat to a 2% decrease. The company cited challenging macroeconomic conditions and reduced net new business wins as primary drivers of the weaker outlook.
Hunting PLC Raises Dividend Growth Target and Announces Buyback Plan
Engineering group Hunting PLC (LSE:HTG) reported a robust H1 2025, with EBITDA up around 16% year-on-year, reaching approximately $68-$70 million. The growth was largely fueled by strong performance in its OCTG product segment.
Hunting boosted its targeted annual dividend growth from 10% to 13% and revealed plans for a $40 million share buyback program, following the publication of its half-year results on August 28. The company maintained its full-year EBITDA forecast of roughly $135-$145 million and expects year-end cash between $65 million and $75 million prior to the buyback and any acquisitions.
Jet2 Posts 12% Increase in Pre-Tax Profits
Jet2 (LSE:JET2) announced a 12% rise in pre-tax profits for the year, driven by strong demand for its competitively priced holiday packages and flights. The company noted that bookings remain steady, although customers tend to arrange travel closer to departure dates.
Jet2 emphasized that consumer enthusiasm for relaxing overseas vacations in sunny destinations remains high.
Young & Co Benefits from Warm UK Weather with 7% Sales Growth
Pub operator Young & Co (LSE:YNGA) experienced a boost in like-for-like sales of 7% over the 14 weeks ending July 8, benefiting from prolonged warm and sunny weather in the UK. This increase was particularly noticeable in pubs located by riversides and with outdoor gardens. The growth comes despite tough comparisons with last year’s Euro 2024 football tournament period.
New Report Urges Chancellor Reeves to Reform Fiscal Rules
A recent report from the Productivity Institute and the National Institute of Economic and Social Research suggests that Chancellor Rachel Reeves should overhaul fiscal policy to improve productivity. The analysis argues current rules hinder essential investment for sustainable economic growth and tax revenue expansion.
The report advises setting a minimum public investment threshold of about 4%-5% of GDP and establishing a clear plan for government consumption in the upcoming autumn budget.
Competition Regulator Approves £100 Million Contribution from Homebuilders
In a separate development, the U.K.’s Competition and Markets Authority (CMA) has accepted a £100 million pledge from seven major homebuilders to support affordable housing initiatives. This follows an investigation into possible antitrust violations by these companies.
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