The FTSE 100 traded higher on Tuesday, lifted by strong updates from energy and consumer giants Shell and Imperial Brands, even as B&M European Value Retail dragged the mid-cap index lower after cutting earnings guidance.
Shell shares climbed 2 % to £2787 after the oil major released a bullish third-quarter trading update, highlighting stronger performance across its integrated gas division.
Liquefied natural gas (LNG) output is projected between 7 million and 7.4 million tonnes, up from 6.7 million in the prior quarter. Upstream production is expected at 1.79 million-1.89 million barrels per day, also above Q2 levels.
Refining margins rose from $8.9 to $11.6 per barrel, signalling improved profitability ahead of the company’s 30 October results, where analysts expect another $3 billion buyback announcement.
Imperial Brands rose 2% to £3017 after unveiling a fresh £1.45 billion share-buyback programme, adding to market optimism. Rentokil Initial led blue-chip gainers with a 4% rise to £410, while the overall FTSE 100 index added 14 points to 9493.49.
In contrast, FTSE 250 constituent B&M European Value Retail fell 12 % to £225.6 after warning that first-half profits are set to decline 28 %.
Like-for-like sales in the UK fell 1.1% in the second quarter, prompting the retailer to trim full-year EBITDA guidance to £510-£560 million from £620 million a year earlier.
CEO Tjeerd Jegen, who took over in June, said the group is launching a “Back to B&M Basics” plan focused on range optimisation, shelf availability, and pricing discipline to restore growth momentum.
Diageo gained 1.53% to reach £1,787, London Stock Exchange Group gained 1.52% to £8,706, and Games Workshop Group moved up 1.12% to £14,640, restoring some buying interest into consumer and financial stocks.
Also Read: How the Government Shutdown Will Impact the US Stock Market
Gold set a record price of $3,977 an ounce on buying supported by safe-haven demand amid the ongoing US government shutdown and expectations of further Fed rate cuts.
US equities closed mixed, the S&P 500 up 0.4%, the Nasdaq Composite higher by 0.7%, and the Dow Jones marginally down 0.1%.
Asian markets were largely steady, with Japan’s Nikkei 225 adding 0.3% after Monday’s 4.75% surge, setting a positive tone for European trading sessions.
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