London’s blue-chip index posted modest gains on Wednesday, lifted by company earnings reports, while the pound extended its recent strength and broader European markets also traded in positive territory.
By 11:40 GMT, the FTSE 100 was up 0.2%, with sterling climbing 0.04% against the U.S. dollar to trade at 1.35. On the continent, the DAX in Germany added 0.03%, and France’s CAC 40 advanced 0.5%.
Stock movers: AB Foods slumps, Serica and Warpaint drop, Wickes and Anglo climb
Shares in Associated British Foods PLC (LSE:ABF) fell 10% after the group unveiled full-year results showing disappointing performance at Primark, alongside weaker margins in several divisions.
Primark’s sales for the year are expected to grow just 1%, with like-for-like revenue in the second half projected to fall about 2%. That includes a 2.4% decline in Q3 and an anticipated 2% slide in Q4, compared with analyst forecasts of a 1% drop for the half-year.
Elsewhere, Serica Energy PLC (LSE:SQZ) plunged more than 11% after cutting its 2025 production outlook.
In contrast, Wickes Group PLC (LSE:WIX) rose 3% after reporting adjusted pre-tax profit of £27.3 million for the first half of 2025, up 16.7% from the prior year. Revenue climbed 5.6% to £847.9 million, with like-for-like sales gaining 4.5%. The retailer reaffirmed its full-year guidance, saying it remains “comfortable with current consensus expectations” for adjusted profit before tax of £48.2 million despite higher expected costs later this year.
Warpaint London PLC (LSE:W7L) shed 18% after lowering its full-year outlook, even as first-half revenue rose 8%.
Meanwhile, Anglo American PLC (LSE:AAL) gained over 2%, boosted by optimism surrounding its merger with Teck Resources Ltd (NYSE:TECK). Berenberg also upgraded the miner’s rating to “hold” from “sell.”
FCA considers new rules for contactless payments
Separately, the Financial Conduct Authority opened a consultation on proposals that would let card issuers set their own contactless transaction limits. The regulator said the move could allow consumers to make higher-value purchases without needing a PIN and foster greater innovation in payments by replacing the current universal cap with flexible, customer-focused thresholds.
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