FTSE 100 rises as European markets slip and pound weakens; HSBC leads gains

British equities edged higher on Tuesday, bucking the broader downward trend across European markets, while a weaker pound and strong corporate results from major firms, including HSBC Holdings PLC (LSE:HSBA), supported the benchmark index.

As of 11:43 GMT, the FTSE 100 advanced 0.1%, while the pound slipped 0.2% against the dollar to 1.33. By contrast, the DAX in Germany and the CAC 40 in France both fell 0.1%.

UK corporate highlights

• HSBC Holdings PLC (LSE:HSBA) shares gained after the London-based bank posted third-quarter earnings ahead of forecasts. Adjusted profit before tax came in 9% above consensus, while total income beat expectations by 5%. The strong performance was evenly split between net interest and non-interest income. Net interest income rose to $11 billion, about 3% above projections from Jefferies, and the net interest margin improved to 1.57%, up 1 basis point quarter-on-quarter and 11 basis points year-on-year.

• Anglo American PLC (LSE:AAL) reaffirmed its full-year copper production guidance of 690,000–750,000 tonnes, following flat third-quarter output of 184,000 tonnes. Strong operational results at Quellaveco and Los Bronces offset softer performance at Collahuasi.

• C&C Group (LSE:CCR), the owner of Tennent’s and Bulmers, saw its stock rise 1.4% after reporting a 4% increase in operating profit to €41.9 million for the six months ending August 31, despite a 4% decline in net revenue to €825.7 million. Operating margin improved 0.4 percentage points to 5.1%.

• Evoke PLC (LSE:EVOK) reported a 5% year-over-year revenue increase to £435 million in the third quarter, marking its fifth consecutive quarter of growth. The company reiterated its full-year outlook, suggesting earnings will surpass current market expectations.

• Airtel Africa Plc (LSE:AAF) posted strong half-year results, with revenue rising 24.5% in constant currency to $2.98 billion for the period ended September 30, 2025. Its customer base grew 11% to 173.8 million, while data revenue surged 37% to $1.16 billion—outpacing voice for the first time.

• Rio Tinto Ltd (LSE:RIO) announced it is weighing the closure of Tomago Aluminium, Australia’s largest smelter, due to soaring energy costs. The company has begun employee consultations, which will run until November 21.

• In the pharmaceutical sector, AstraZeneca PLC (LSE:AZN) secured EU approval for its drug Koselugo to treat symptomatic, inoperable plexiform neurofibromas in adults with neurofibromatosis type 1. The green light follows positive data from the KOMET Phase III trial, which showed Koselugo achieved a 20% objective response rate versus 5% with placebo.

The gains in London come as investors weigh diverging regional performances, currency moves, and company-specific catalysts, with the FTSE outperforming its European peers in early trading.