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FTSE 100 Advances On Upbeat Earnings
(RTTNews) - The UK market is modestly higher on Tuesday, extending gains from previous session, thanks to some upbeat corporate earnings announcements, and expectations that the Federal Reserve will cut interest rate in the near future to spur economic growth.
The benchmark FTSE is up 47.10 points or 0.52% at 9,175.40 nearly an hour past noon.
Smith & Nephew is soaring 15.6%. The medical technology company has announced a $500 million share buyback after reporting better-than-expected earnings for H1 2025. Adjusted earnings per share were 42.9 cents in the second quarter, compared to 37.6 cents a year ago. The company has maintained fiscal 2025 outlook, expecting revenue growth.
Fresnillo is gaining more than 5% after posting a nearly fourfold increase in first-half net profit. The company's first-half net profit climbed to US$393.78 million from US$78.65 million in the prior year.
Melrose Industries is rising 4.7%. BP is gaining about 2.5% after it returned to profit in the second quarter.
Diageo is up 2.3% despite annual profit tumbling almost 30%. The stock had jumped more than 6% earlier in the session.
Polar Capital Technology Trust, Informa, Airtel Africa, Entain, IAG, Mondia, Convatec Group, IMI and Pershing Square Holdings are up 1 to 2.2%.
Centrica, Tesco, Sainsbury (J) and Haleon are down 1 to 1.5%. Relex, Auto Trader Group, Lloyds Banking Group, Games Workshop, BT Group and Schroders are also down in negative territory.
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