UK equities started Tuesday’s session on a firmer footing, supported by a rebound in metal prices that boosted mining stocks. Broader European markets also traded higher in early deals, outperforming the UK market.
Mining shares led the gains after recovering from the previous session’s sharp sell-off in precious metals. Producers of gold, silver and copper including Fresnillo PLC (LSE:FRES), Antofagasta PLC (LSE:ANTO), Endeavour Mining (LSE:EDV), Anglo American PLC (LSE:AAL), Glencore PLC (LSE:GLEN) and Rio Tinto PLC (LSE:RIO) were all higher shortly after the open.
By 08:39 GMT, the FTSE 100 was trading slightly higher, while sterling gained around 0.1% against the US dollar to 1.3686. European peers showed stronger momentum, with Germany’s DAX up 1.1% and France’s CAC 40 rising 0.6%.
UK roundup
A.G. Barr reports FY25/26 growth
A.G. Barr PLC (LSE:BAG) shares rose 6.1% after the soft drinks group said results for FY25/26 met expectations. Revenue increased by around 4% to £437m from £420m a year earlier, while adjusted operating margin improved to approximately 14.7% from 13.6%. The margin expansion of about 110 basis points helped drive double-digit growth in adjusted profit for the year.
AstraZeneca slips on FDA setback
AstraZeneca PLC (LSE:AZN) shares moved lower after the U.S. Food and Drug Administration rejected the company’s initial application for a subcutaneous injection version of its lupus drug Saphnelo. The group said it has since submitted the requested additional information and is working with the regulator to progress the filing.
Plus500 launches US prediction markets offering
Plus500 Ltd (LSE:PLUS) announced it has entered the US retail prediction markets space with the launch of event-based contracts on its Plus500 Futures platform. The new B2C offering includes products from Kalshi Exchange, with transactions cleared directly through Kalshi Klear LLC.
UK grocery inflation cools
UK grocery inflation eased to 4.0% in the four weeks to 25 January, marking its lowest level since April last year, according to figures from Worldpanel by Numerator. The reading was down from 4.3% previously, offering modest relief for consumers.
Leave a Reply