ADVFN UK Market News

Author: Fiona Craig

  • Vesuvius Reports Mixed First-Half Results as Foundry Growth Offsets Steel Challenges

    Vesuvius Reports Mixed First-Half Results as Foundry Growth Offsets Steel Challenges

    Vesuvius (LSE:VSVS) delivered a modest increase in first-half 2026 revenue, with adjusted sales rising at constant currency, while free cash flow improved significantly, helping reduce the group’s leverage. However, statutory operating profit and earnings declined as temporary operational issues within the Steel division and weaker performance in the Advanced Refractories business weighed on overall profitability.

    Although steel markets outside China continued to recover, the company said operational disruptions prevented its Steel division from fully benefiting from stronger demand. Pricing discipline and ongoing structural cost-saving measures provided some support during the period but were not enough to offset the impact of these challenges.

    Foundry Division Delivers Strong Performance

    The Foundry division was the standout performer during the first half, recording solid growth in both revenue and trading profit. The improvement was driven by positive pricing, continued cost reductions, market share gains and the contribution from the MMS acquisition.

    Management also highlighted progress in improving cash management, investing in research and development, and delivering additional structural efficiency initiatives. The company maintained its interim dividend and said actions are underway to resolve the operational issues affecting the Steel division.

    Full-Year Outlook Remains Positive

    Despite the softer first-half earnings performance, Vesuvius expects full-year trading profit to be slightly ahead of 2025 on a constant currency basis. Management believes improving operational execution, combined with ongoing efficiency measures and stronger end-market conditions outside China, should support performance during the remainder of the year.

    Investment Outlook

    Vesuvius continues to benefit from its strong market position and improving cash generation, while its dividend yield and moderate valuation provide support for investors. However, pressure on profit margins, lower returns on equity, softer cash conversion and weaker short-term technical indicators remain areas of concern. The company’s ability to resolve operational issues within the Steel division will be an important factor in delivering its full-year expectations.

    About Vesuvius

    Vesuvius plc (LSE:VSVS) is a global provider of molten metal flow engineering solutions, supplying advanced refractories, flow control products and related technologies to customers operating in high-temperature industrial processes. The company also provides technical services and data-driven solutions through an international network of manufacturing facilities and technology centres located close to customer operations.

    Vesuvius serves customers across the global steel and foundry industries, focusing on improving manufacturing efficiency, safety and sustainability. Its strategy is built on technological leadership, long-standing customer relationships, a strong presence in developing markets and continued investment in innovation to support long-term profitable growth.

  • Foxtons Relies on Lettings Business as Property Sales Remain Under Pressure

    Foxtons Relies on Lettings Business as Property Sales Remain Under Pressure

    Foxtons (LSE:FOXT) reported first-half 2026 revenue of £83.7 million, down 3% from a year earlier, while adjusted operating profit declined 29% to £8.9 million as weaker London residential sales and the introduction of the Renters’ Rights Act weighed on performance.

    The legislation led to a rise in tenant-initiated tenancy terminations, resulting in the reversal of approximately £3 million of previously recognised lettings revenue. Despite lower free cash flow and an increase in net debt, driven by acquisitions and shareholder distributions, recurring and non-cyclical income continued to strengthen, accounting for 69% of total revenue. The company maintained its interim dividend at 0.24p per share and expanded its revolving credit facility to provide additional flexibility for future growth.

    Cost Savings and Acquisitions Support Long-Term Strategy

    During the period, Foxtons achieved £4.5 million in annualised cost savings while continuing to expand its presence in the Build to Rent market. The group also increased revenue from ancillary lettings services and cross-selling initiatives.

    Strategic acquisitions in Milton Keynes and Birmingham strengthened Foxtons’ platform for future expansion, supporting its strategy of increasing market share through targeted bolt-on acquisitions alongside organic growth.

    Management Expects Stronger Second Half

    Foxtons believes the Renters’ Rights Act will ultimately favour larger estate agencies by encouraging further consolidation across the sector. Management expects trading to improve during the second half of 2026 as the impact of tenant-led terminations eases and cost-saving initiatives deliver a greater benefit.

    The company reaffirmed guidance for adjusted operating profit of between £17 million and £19 million for the full year, with earnings expected to be weighted toward the second half.

    Investment Outlook

    Foxtons continues to benefit from a stronger financial position following its return to profitability in recent years, supported by a growing base of recurring lettings income and an attractive valuation that includes a relatively low price-to-earnings ratio and a dividend yield of around 3%. However, weaker technical indicators, softer residential sales activity and ongoing cost and working capital pressures continue to present near-term challenges despite management’s positive outlook for the remainder of 2026.

    About Foxtons

    Foxtons Group plc (LSE:FOXT) is a London-focused estate agency offering residential lettings, property sales and financial services. The company has increasingly focused on expanding its recurring lettings income, reducing reliance on the more cyclical residential sales market.

    Alongside its core operations, Foxtons is growing its presence in the Build to Rent sector while expanding complementary landlord and tenant services. The group also continues to pursue a strategy of organic growth supported by selective acquisitions to broaden its geographic footprint and strengthen its position within the UK property market.

  • Quadrise Expands Licella Partnership to Accelerate Low-Carbon Marine Fuel Development

    Quadrise Expands Licella Partnership to Accelerate Low-Carbon Marine Fuel Development

    Quadrise (LSE:QED) has updated its Joint Development Agreement with Australian technology company Licella Holdings to sharpen the focus and accelerate the timetable for integrating Licella’s Cat-HTR hydrothermal liquefaction bio-oils into Quadrise’s bioMSAR and bioMSAR Zero marine fuel products.

    The collaboration combines Licella’s technology for converting biomass residues and organic waste into renewable bio-oils with Quadrise’s expertise in emulsion fuels and established relationships within the marine fuel market.

    Pilot Engine Testing Planned for 2026

    Following successful laboratory testing of refined bio-oils, which is expected during the second half of 2026, the companies intend to begin initial pilot trials using marine diesel engines. These tests will be followed by larger-scale third-party engine evaluations as the partners work towards commercial deployment in the shipping sector.

    Management believes the revised agreement strengthens Quadrise’s strategy of developing scalable and cost-effective low-carbon marine fuels. The use of alternative bio-feedstocks could also help reduce dependence on more expensive raw materials while supporting the maritime industry’s transition toward lower-emission fuels.

    Commercial Progress Balanced by Execution Risks

    While the partnership represents another step toward commercialization, Quadrise continues to face financial challenges typical of a company in the development stage. Revenue remains limited, losses continue, and the business is still consuming cash despite maintaining relatively low debt levels.

    Technical indicators also remain weak, with the share price trading below key moving averages and momentum remaining negative. However, investors may take encouragement from the company’s defined commercialization milestones, improving visibility on project development and continued collaboration with strategic partners. Even so, execution risk, reliance on partners and ongoing cash requirements remain the key factors influencing the investment outlook.

    About Quadrise Fuels International

    Quadrise Plc (LSE:QED) develops lower-cost, lower-emission alternative fuels for the global fuel oil market. Its flagship products, MSAR and bioMSAR, are produced using low-value refinery residues, heavy oil by-products and renewable feedstocks to provide more efficient and environmentally friendly alternatives to conventional fuel oil for the shipping, refining and industrial sectors.

    The company’s MSAR fuel has already demonstrated commercial viability as a lower-cost substitute for traditional heavy fuel oil while remaining compatible with existing infrastructure. Its bioMSAR product builds on this technology by incorporating renewable feedstocks to reduce greenhouse gas emissions, offering shipping operators a practical pathway toward meeting increasingly stringent environmental regulations without significant capital investment.

  • Vanquis Banking Group Reports Higher Interim Profit as Transformation Delivers Savings

    Vanquis Banking Group Reports Higher Interim Profit as Transformation Delivers Savings

    Vanquis Banking Group (LSE:VANQ) reported a strong set of interim results for the six months ended June 30, 2026, with statutory profit before tax from continuing operations rising 44% to £8.9 million. The figure exceeded the group’s full-year 2025 profit despite higher impairment provisions linked to the macroeconomic environment.

    Customer interest-earning balances increased 8% to £3.05 billion, supported by growth in second charge mortgages and credit card lending. Net interest income also rose 8%, while operating expenses declined 8%, helping improve the group’s cost-to-income ratio. Credit performance remained stable throughout the period.

    Technology Investment Drives Higher Savings Target

    Vanquis continued to make progress with its technology transformation programme during the first half. The company successfully migrated all credit card customers to its new mobile app while advancing development of its Gateway technology platform.

    As a result, management increased its expected transformation savings to between £30 million and £35 million over the 2026 to 2028 period. The programme is designed to improve operational efficiency, increase automation and support the group’s long-term growth strategy.

    Consumer Spending Trends Expected to Weigh on Near-Term Returns

    Despite the stronger first-half performance, Vanquis expects returns to remain under pressure during 2026 and 2027 as consumer spending remains cautious. The company is also relying more heavily on acquiring new credit card customers, who typically generate lower profitability in the early years of their relationship.

    Management expects these investments to support stronger earnings from 2028 onward. Backed by solid capital and liquidity, the board also intends to reinstate a modest dividend when it reports its full-year 2026 results.

    Investment Outlook

    Vanquis has demonstrated a clear improvement in profitability, supported by stronger earnings, lower operating costs and continued progress on its transformation programme. Healthy capital levels and positive management guidance also strengthen the outlook. However, elevated balance sheet leverage, a relatively high valuation, weak technical indicators and ongoing execution and credit risks continue to temper expectations for near-term upside.

    About Vanquis Banking Group

    Vanquis Banking Group (LSE:VANQ) is a UK specialist bank focused on providing credit products to customers who have limited access to mainstream lending. Its core businesses include credit cards, second charge mortgages and vehicle finance, with funding primarily sourced through customer deposits.

    The group is investing heavily in digital technology to improve customer experience and operational efficiency through its new mobile platform and Gateway transformation programme. By expanding lower-risk lending, increasing automation and incorporating artificial intelligence into its operations, Vanquis aims to deliver sustainable long-term growth while maintaining disciplined lending standards. The company also expects future regulatory changes, including Basel 3.1 and the UK’s Small Domestic Deposit Takers regime, to strengthen its capital position and support additional lending capacity.

  • Shell Reports Strong Q2 Earnings as Cash Generation Supports ARC Acquisition

    Shell Reports Strong Q2 Earnings as Cash Generation Supports ARC Acquisition

    Shell plc (LSE:SHEL) delivered a strong financial performance in the second quarter of 2026, with higher earnings and cash flow helping reduce debt while funding major strategic investments and continued shareholder returns. The energy group benefited from stronger commodity prices, solid trading across liquefied natural gas (LNG) and crude oil, improved refining and chemicals margins, and ongoing cost savings.

    For the quarter, income attributable to shareholders reached $10.8 billion, while operating cash flow totaled $21.4 billion. Net debt fell to $41.8 billion, reducing gearing to 18.7%. During the first half of the year, Shell generated free cash flow of $20.5 billion, allowing the company to return $5.2 billion to shareholders during the quarter through dividends and share buybacks. Shell also announced a new share repurchase programme worth $4.2 billion.

    Portfolio Reshaping Continues

    Alongside its financial results, Shell continued to reshape its portfolio through targeted acquisitions and asset sales. The company agreed to acquire ARC Resources in a deal valued at approximately $13.6 billion, strengthening its position in Canada’s Montney shale basin and expanding its integrated gas operations.

    At the same time, Shell agreed to sell its interests in the Na Kika platform and the Coulomb tieback project in the Gulf of Mexico for $1.7 billion. Management said the transactions reflect its strategy of focusing capital on higher-return assets while recycling proceeds from mature operations to strengthen long-term growth and improve balance sheet efficiency.

    Strong Cash Flow Supports Capital Returns

    For the first six months of 2026, Shell generated operating cash flow of $27.5 billion and free cash flow of $20.5 billion. The company attributed the performance to stronger oil and gas prices, robust trading activity and continued structural cost reductions, which have now reached $5.8 billion since 2022.

    Cash capital expenditure totaled $8.4 billion during the first half, while the company maintained its dividend and expanded shareholder distributions through a renewed buyback programme consisting of $3.0 billion in new repurchases and an additional $1.2 billion previously deferred.

    Investment Outlook

    Shell’s investment case continues to be supported by healthy profitability, strong cash generation and a disciplined approach to capital allocation. The company’s valuation remains attractive, with a relatively modest price-to-earnings ratio and a dividend yield of around 3.5%. However, softer revenue trends, moderating free cash flow momentum and weaker technical indicators suggest investors may continue to monitor near-term performance closely, despite management’s positive outlook on cost reductions, shareholder returns and the strategic benefits of the ARC Resources acquisition.

    About Shell

    Shell plc (LSE:SHEL) is one of the world’s largest integrated energy companies, operating across oil and gas exploration and production, liquefied natural gas, refining, chemicals, trading and energy marketing. The company is focused on generating strong cash flow, improving operational efficiency and delivering consistent returns to shareholders through dividends and share buybacks.

    As part of its long-term strategy, Shell continues to optimise its global portfolio through selective acquisitions and divestments. Recent moves include expanding its Canadian shale gas business through the acquisition of ARC Resources while disposing of mature offshore assets in the Gulf of Mexico. The company aims to strengthen its integrated gas portfolio, maintain financial discipline and support long-term growth through targeted investment and capital recycling.

  • Alien Metals JV Completes Elizabeth Hill Drilling to Support Resource Upgrade

    Alien Metals JV Completes Elizabeth Hill Drilling to Support Resource Upgrade

    Alien Metals (LSE:UFO) announced that joint venture partner West Coast Silver has completed its first-half 2026 diamond drilling programme at the Elizabeth Hill Silver Project in Western Australia’s Pilbara region. Alien retains a 30% interest in the project as well as an equity investment in West Coast Silver.

    The campaign consisted of 14 diamond drill holes covering a total of 2,015.7 metres. Drilling focused on extending mineralisation below the historic mine workings, testing areas to the north and west of the existing resource, and carrying out infill drilling within the current resource model.

    High-Grade Results Support Future Growth Plans

    Earlier assay results from the programme returned several high-grade silver intersections, including 3 metres grading 524 grams per tonne silver, with 1.5 metres grading 1,039 grams per tonne. These results continue to demonstrate the project’s potential as one of Australia’s highest-grade silver deposits.

    All remaining drill core samples have now been submitted for laboratory analysis, with results expected during August. The new data will contribute to an updated JORC-compliant mineral resource estimate and support economic studies assessing future development opportunities. Additional drilling is planned for the second half of 2026 as the joint venture looks to further expand the resource and strengthen the project’s long-term production potential.

    Investment Outlook

    Alien Metals continues to face challenges associated with its exploration-stage business model, including the absence of revenue, ongoing operating losses and continued cash outflows. Technical indicators also remain weak, with the shares trading below key moving averages alongside negative momentum signals. While the company’s valuation provides some support, the lack of a dividend and its early-stage development profile continue to weigh on the overall investment outlook.

    About Alien Metals Ltd

    Alien Metals Ltd is an AIM-listed mineral exploration and development company focused on advancing a diversified portfolio of mining assets across Australia. Its projects include the Georgina Basin iron oxide copper-gold (IOCG) project in the Northern Territory, multiple iron ore assets in Western Australia’s Pilbara region, and precious and base metals projects such as Elizabeth Hill and Munni Munni. The company holds a 30% joint venture interest in the Elizabeth Hill Silver Project together with an equity stake in West Coast Silver.

    Beyond silver, Alien’s principal iron ore asset is the Hancock Iron Ore Project in the central Pilbara, which hosts a JORC-compliant resource of 8.4 million tonnes grading 60% iron. The company is targeting production of 2 million tonnes per year over a ten-year mine life, supported by access to major transport infrastructure and export facilities at Port Hedland. Alien also maintains interests in the Brockman and Vivash iron ore projects, alongside a 30% stake in the Munni Munni project through its joint venture with GreenTech Metals, providing exposure to iron ore, silver and platinum group metals across key Australian mining regions.

  • LSEG Delivers Record First-Half Performance and Upgrades Full-Year Outlook

    LSEG Delivers Record First-Half Performance and Upgrades Full-Year Outlook

    London Stock Exchange Group (LSE:LSEG) reported record results for the first six months ended June 30, 2026, with total income excluding recoveries increasing 8.4% on an organic constant currency basis. Growth was supported across its Data & Analytics, FTSE Russell, Risk Intelligence and Markets businesses. Adjusted EBITDA climbed 14.1%, with the adjusted EBITDA margin improving by 320 basis points, while adjusted earnings per share rose 17.2% as subscription revenue growth, operating efficiencies and strong cash generation continued to drive performance.

    AI Strategy and Markets Business Fuel Growth

    LSEG continued to expand its “LSEG Everywhere” strategy by making AI-ready data available through multi-cloud platforms and direct integration into customers’ AI environments. The company also broadened the rollout of AI Search within Workspace and strengthened integration with Microsoft Copilot, extending AI-powered capabilities to more users.

    The Markets division delivered double-digit growth during the period while advancing several strategic initiatives, including the development of Private Securities Markets, preparations for the planned LSE 24 launch and a digital securities depository project in partnership with HSBC. Shareholder returns also remained a priority, with £2.1 billion of share buybacks completed, a further £1.35 billion authorized, and the interim dividend increased by 17%.

    Guidance Raised Following Strong First Half

    Following its first-half performance, LSEG increased its financial outlook for 2026. The group now expects organic constant currency total income growth of between 7.0% and 7.5%, while forecasting EBITDA margin expansion of around 100 basis points. Equity free cash flow is expected to reach at least £2.7 billion.

    Management believes the combination of proprietary financial data, global market infrastructure and regulatory expertise positions LSEG to play an increasingly important role as financial institutions accelerate the adoption of artificial intelligence. The company expects its AI-focused products and technology investments to strengthen customer relationships while supporting long-term growth across its businesses.

    Investment Perspective

    LSEG’s outlook is supported by strong underlying financial performance, expanding margins, healthy revenue growth and an improving earnings outlook. Significant share buybacks and robust free cash flow also strengthen the investment case. However, the shares continue to trade at a premium valuation, recent cash flow trends have shown some variability, and technical indicators suggest positive short-term momentum alongside a less favorable longer-term trend.

    About London Stock Exchange Group

    London Stock Exchange Group plc (LSE:LSEG) is a global provider of financial market infrastructure, data and analytics solutions. Its portfolio includes the London Stock Exchange, FTSE Russell, Risk Intelligence and a wide range of subscription-based financial data and analytics services, with an increasing emphasis on AI-ready datasets and cloud-based delivery.

    The group’s products support trading, investment management, risk analysis and regulatory compliance for banks, asset managers and institutional investors around the world. By expanding AI-powered capabilities within its Workspace platform and collaborating with major technology providers including Microsoft, Amazon and Google, LSEG aims to integrate advanced data and analytics more deeply into customers’ day-to-day workflows.

  • MYCELX Expects Stronger Second Half as Water Treatment Projects Gather Pace

    MYCELX Expects Stronger Second Half as Water Treatment Projects Gather Pace

    MYCELX (LSE:MYX) reported unaudited first-half 2026 revenue of approximately $2.1 million, compared with $1.7 million in the same period last year, supported by paid trials, equipment leases and recurring filter media sales. The company expects a much stronger performance during the second half, driven by the delivery of a $3.9 million REGEN system for the Permian Basin and continued growth in leasing and media revenue.

    Management said around 80% of its projected full-year revenue target of $11 million has already been secured through booked, contracted or recurring business, providing improved revenue visibility. Cash on hand totaled $500,000 at the end of June, with a further $1.1 million received during July. MYCELX is also reviewing financing alternatives to support additional equipment investment for Permian projects while expanding a pipeline of opportunities across U.S. produced water, PFAS treatment and Middle East operations.

    Operations Expand Across Key Growth Markets

    During the first half, MYCELX completed its third offshore produced water treatment installation in the Gulf of Mexico and is preparing to deploy its first large-scale project for a Permian Basin water midstream operator. The company is also pursuing further offshore and onshore contracts, with increasing filter media demand expected to strengthen recurring revenue as additional systems come online.

    In PFAS treatment, MYCELX has secured a three-month validation project with a landfill operator in Minnesota. A successful outcome could lead to permanent installations both at the site and at similar facilities. Across the Middle East, the company continues to identify opportunities for new installations and retrofit projects, although management noted that regional geopolitical conditions may influence project timing. Even so, the company believes recent commercial progress has reinforced its competitive position in its target markets.

    Investment Considerations

    The company’s outlook continues to be weighed down by ongoing negative operating and free cash flow, despite the improvement in revenue and profitability achieved during 2025. From a technical perspective, the shares remain above their longer-term moving averages but are trading below the 20-day average, presenting a mixed picture. Valuation also remains demanding due to a relatively high price-to-earnings ratio, while the company currently offers no dividend yield.

    About MYCELX Technologies

    MYCELX Technologies Corporation develops proprietary water treatment solutions for the oil and gas industry as well as a range of industrial applications. Its modular treatment systems and specialist filter media are designed for produced water treatment in both offshore and onshore environments, while the business is also expanding into PFAS remediation and industrial wastewater treatment across the United States and the Middle East.

    The company serves oil producers, midstream water operators, municipal authorities and industrial customers, with a strategy focused on increasing recurring revenue through long-term projects and consumable media sales. Its core markets include the Permian Basin, offshore Gulf of Mexico operations, Middle Eastern energy projects and the growing U.S. PFAS remediation sector.

  • U.S. Futures Hold Near Flatline as Markets Await Fed Decision and Tech Earnings: Dow Jones, S&P, Nasdaq, Wall Street

    U.S. Futures Hold Near Flatline as Markets Await Fed Decision and Tech Earnings: Dow Jones, S&P, Nasdaq, Wall Street

    U.S. equity futures traded close to unchanged on Wednesday as investors refrained from making major moves ahead of the Federal Reserve’s latest policy announcement and a series of high-profile corporate earnings releases.

    Markets broadly expect the central bank to leave interest rates unchanged, although traders continue to price in the possibility of an unexpected quarter-point increase.

    According to CME Group’s FedWatch Tool, there is a 64.2% probability that the Fed keeps rates on hold, while the likelihood of a 25-basis-point increase stands at 35.8%.

    Attention will also focus on the Fed’s policy statement, although investors expect less forward guidance under Federal Reserve Chair Kevin Warsh’s streamlined communication approach.

    Meta and Microsoft Results Could Shape Market Sentiment

    Investors are also waiting for quarterly earnings from Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT), which are scheduled for release after Wednesday’s market close.

    The reports are expected to provide fresh insight into artificial intelligence spending and could influence investor appetite for large-cap technology stocks following recent valuation concerns.

    Dow Outperforms Despite Weakness in Technology

    Wall Street ended Tuesday with mixed results after another volatile trading session.

    The Dow Jones Industrial Average gained 537.24 points, or 1.0%, to close at 52,747.32, marking its third consecutive advance.

    The S&P 500 edged 0.2% higher to 7,428.78, while the Nasdaq Composite slipped 0.2% to finish at 24,876.91.

    Earnings Drive Diverging Sector Performance

    Sherwin-Williams (NYSE:SHW) climbed 8.3% after posting stronger-than-expected quarterly earnings and raising its full-year guidance.

    Coca-Cola (NYSE:KO) also advanced 5% after delivering quarterly results that exceeded forecasts and improving its outlook for the year.

    Technology stocks remained under pressure, however, with semiconductor companies leading the declines.

    The Philadelphia Semiconductor Index dropped 4.5% for a fourth consecutive session, reaching its lowest closing level in more than two months.

    The NYSE Arca Computer Hardware Index also lost 2.5%, while oil services companies weakened as crude prices continued to fall.

    Defensive Industries Offer Support

    Healthcare stocks provided a bright spot, with the NYSE Arca Pharmaceutical Index rising 2.3% to a record closing high.

    Telecommunications, airlines and homebuilding companies also posted gains, helping to offset weakness across the broader technology sector.

  • European Stocks Trade Cautiously as Middle East Tensions Weigh on Sentiment: DAX, CAC, FTSE100

    European Stocks Trade Cautiously as Middle East Tensions Weigh on Sentiment: DAX, CAC, FTSE100

    European equities traded with little direction on Wednesday after joint military strikes by the United States and Saudi Arabia in Iraq heightened fears that conflict in the Middle East could escalate further.

    Investors also remained cautious ahead of quarterly earnings from major U.S. technology companies and the Federal Reserve’s interest rate decision, both scheduled for later in the day.

    The French CAC 40 fell 0.8%, while Germany’s DAX and the UK’s FTSE 100 each edged 0.1% higher.

    Corporate Earnings Drive Individual Stocks

    Logitech International shares dropped 7.2% after the Swiss computer peripherals manufacturer warned that a temporary shutdown at one of its suppliers’ factories could reduce third-quarter sales by as much as $200 million.

    Wealth manager UBS (NYSE:UBS) gained 3.3% after reporting better-than-expected second-quarter earnings and announcing plans to repurchase $3 billion of its own shares over the next year.

    Mining group Rio Tinto (LSE:RIO) rose 1.3% after posting a 47% increase in first-half profit.

    Commodity trader Glencore (LSE:GLEN) advanced 2.8% as first-half earnings from its trading division doubled compared with the previous year.

    Strong Results Lift Consumer and Banking Stocks

    Greggs (LSE:GRG) jumped 12% after the UK bakery chain reported a stronger-than-expected 19.7% increase in first-half 2026 pre-tax profit.

    Reckitt Benckiser (LSE:RKT), the maker of Dettol, climbed 5.3% after delivering what it described as a strong second quarter while maintaining its full-year guidance.

    Standard Chartered (LSE:STAN) added 3.7% after announcing higher quarterly earnings alongside a $1 billion share buyback programme.

    Mixed Performance Across Continental Europe

    French spirits producer Remy Cointreau (EU:RCO) declined 3.6%, despite reporting first-quarter sales that exceeded expectations and reaffirming its annual targets.

    Danone (EU:BN) fell 4.5% even after publishing solid first-half financial results.

    Belgian chemicals company Solvay (EU:SOLB) gained 3.4% after second-quarter core earnings came in ahead of market forecasts.

    Italian energy major ENI (BIT:ENI) advanced 4.2% after increasing the size of its share buyback programme following strong second-quarter results.

    Industrials Lead the Gainers

    Electrolux (LSE:0GQ1) surged 24% after the Swedish appliance manufacturer reported quarterly profit well above expectations.

    Deutsche Bank (TG:DBK) rallied 5% after delivering a record second-quarter profit.

    BASF (TG:BAS) climbed 4% after announcing plans to begin a €1 billion share buyback programme in August.

    Utility company RWE (TG:RWE) rose 2% after upgrading its earnings outlook for both 2026 and 2027.