FTSE closes up 0.1%, lifted by Glencore and Next

Earnings
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Summary · why it matters

The London stock market closed slightly higher on Wednesday, with the FTSE 100 ending at 10,888.30 points, up 8.92 points or 0.08%, supported by strong earnings from Glencore and Next. Glencore shares surged 4.1% after reporting first-half profit up 86%, beating expectations, along with plans for an additional listing on the Australian stock exchange. Next shares jumped 6.9%, the most in the index, after raising its full-year profit forecast for the third time. AstraZeneca shares rose 2.9% after denying reports of takeover talks with Bristol Myers Squibb. Banking stocks fell, with Prudential down 6.4% and HSBC down nearly 5% following reports that China has started taxing income from overseas insurance policy returns. Energy stocks dropped 1.5%, tracking volatile oil prices amid uncertainty in the Middle East.

Impact on stocks 6

Biotech & Genomic Medicine · 2 stocks
AstraZeneca PLC
AZN
▲ PositiveCapitalrelevance

Denied takeover talks with Bristol Myers Squibb, shares rose 2.9%

Critical Materials & Supply Chain · 1 stocks
Glencore PLC
GLEN
▲ PositiveCapitalrelevance

First-half profit up 86%, beating expectations, and plans for additional listing on Australian exchange

Consumer Discretionary · 1 stocks
Next PLC
NXT
▲ PositiveCapitalrelevance

Raised full-year profit forecast for the third time, shares jumped 6.9%

Financials · 1 stocks
HSBC Holdings PLC
HSBA
▼ NegativeRegulationrelevance

China started taxing income from overseas insurance policy returns, hitting HSBC's insurance business

Aging Population · 1 stocks