UK equities edged higher on Tuesday morning, building on the previous session’s gains, while the pound slipped slightly but remained above the $1.33 level. European markets traded with mixed momentum as oil prices rose amid renewed tensions in the Middle East.
Investor attention this week is centred on upcoming central bank meetings and geopolitical developments. Jefferies expects both the Federal Reserve and the European Central Bank to maintain a cautious “wait-and-see” approach given ongoing uncertainty, while reiterating its view that the rate hikes priced into the short end of the European yield curve will gradually fade.
At 08:31 GMT, the FTSE 100 was up 0.1%, while sterling weakened 0.05% against the dollar to $1.3314. On the continent, Germany’s DAX declined 0.3%, while France’s CAC 40 gained 0.09%.
UK corporate updates
Trustpilot Group PLC (LSE:TRST) reported fiscal 2025 results ahead of profit expectations and issued fiscal 2026 guidance above analyst forecasts, supported by stronger visibility in artificial intelligence search tools and continued expansion among enterprise customers.
The online review platform generated revenue of $261.1 million for the year ending December 31, 2025, representing a 20% increase at constant currency from $210.7 million the previous year. Adjusted EBITDA reached $40.7 million, exceeding the company-compiled consensus of $38.5 million by 5.7%. Adjusted diluted earnings per share came in at 4.8 cents, compared with analyst expectations of 5.0 cents.
Wickes Group PLC (LSE:WIX) announced full-year adjusted profit before tax of £49.9 million for the 52 weeks to December 27, 2025, surpassing analyst consensus of £48.2 million and representing a 14.4% rise from £43.6 million in the previous year. Revenue increased 5.9% to £1,636.2 million, compared with £1,544.5 million in 2024.
Within the business, the retail division recorded revenue of £1,208.9 million, up 6.5%, while the Design & Installation segment grew 4.4% to £427.3 million. The company noted that improved productivity and operating leverage helped partly offset rising costs during the year.
Ashtead Technology Holdings PLC (LSE:AT.) reported full-year 2025 revenue of £203.2 million on Tuesday, representing a 21% increase year on year, as the subsea technology group reaffirmed its confidence in delivering continued progress through 2026 while monitoring geopolitical developments in the Middle East.
Adjusted earnings per share reached 49.4 pence for the year ended December 31, 2025, up 10% from 45.0 pence a year earlier. Revenue growth reflected 3% organic expansion and a 19% boost from the acquisitions of Seatronics and J2 Subsea, partly offset by a 1% foreign exchange headwind.
Close Brothers Group plc (LSE:CBG) reported a decline in first-half profit as a smaller loan book reduced income, though cost discipline and improving credit quality helped offset the impact of the motor finance commission issue. Adjusted operating profit dropped 19% to £65.2 million for the six months to January 31, 2026.
On a statutory basis, the lender recorded a pre-tax loss of £65.5 million after booking a £135 million provision in October related to potential motor finance redress, part of a wider industry issue linked to commission structures on car loans.
Sthree Plc (LSE:STEM) said first-quarter net fees fell 8% and confirmed that its chief financial officer will step down, as weakness in European markets outweighed growth in the United States and Japan.
The global STEM workforce consultancy reported group net fees of £71.7 million for the three months ended February 28, compared with £78.4 million in the same period last year.
Travis Perkins PLC (LSE:TPK) reported a full-year net loss of £176 million for 2025, widening from a £77 million loss the previous year, marking the third consecutive year of substantial charges after recording £222 million in write-downs across its Merchanting and Toolstation operations.
The company’s operating loss widened to £97 million from a profit of £2 million in 2024. Adjusted operating profit, excluding the charges, declined to £133 million from £152 million, though it exceeded RBC Capital Markets’ forecast of £128 million and market consensus of £132 million.
Essentra PLC (LSE:ESNT) reported full-year 2025 results broadly in line with analyst expectations, with revenue of £302.0 million and adjusted earnings per share of 6.1 pence, although margins declined amid operational challenges.
Revenue rose 2.5% at constant currency compared with the previous year, though reported revenue was broadly unchanged at £302.0 million versus £302.4 million in 2024. All regions recorded growth in constant currency terms, with EMEA up 2.6%, the Americas up 2.0%, and APAC up 3.1%. Adjusted operating profit declined to £32.0 million from £40.1 million, while adjusted operating margin fell to 10.6% from 13.3%.
Boku Inc (LSE:BOKU) reported full-year 2025 results consistent with its January trading update, showing revenue growth of 30% to $128.8 million as the payments technology firm expanded across multiple markets.
Growth was led by the EMEA region, where revenue rose 39% in the second half. Total Payment Volume increased 27% to $15.7 billion. Adjusted EBITDA rose 36% to $41.3 million, equating to a margin of 32.1%.
Defence cooperation initiative
Finland, the Netherlands and the United Kingdom announced Tuesday that they are exploring the creation of a new mechanism for joint defence financing and procurement, with the aim of launching the initiative by 2027.
The three NATO members said the framework would pool demand, enable coordinated procurement, accelerate defence investment and expand the availability of critical capabilities such as munitions as they strengthen shared defence and security commitments.
The proposal comes amid rising geopolitical tensions and security concerns, including Russia’s ongoing war in Ukraine, which the countries said is contributing to global instability and challenging the rules-based international order.
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