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The UK’s FTSE 100 ended lower as investors assessed corporate earnings and followed losses on Wall Street. The index fell 0.2%, while the FTSE 250 rose for a fourth consecutive session. Housebuilder Persimmon gained after maintaining its full-year home delivery outlook at the upper end of its range, while advertising group WPP surged after reporting an improved trading trajectory. Insurer Admiral also advanced following its first-half results and share buyback announcement. In the property sector, Tritax Big Box REIT declined after placing a GBP 350 million share sale.
The UK’s FTSE 100 ended lower as investors assessed a fresh batch of corporate earnings and tracked losses on Wall Street. The blue-chip index fell 0.2% to 10,867.89 points, while the FTSE 250 rose 0.2% to 24,695.41 points, marking its fourth consecutive session of gains.
Information and analytics group Relx was among the biggest drags on the FTSE 100, falling 4.1%. The decline came as software stocks weakened following AppLovin’s revenue miss and Datadog’s warning on revenue growth. Relx was also trading ex-dividend.
Housebuilder Persimmon gained 2.9% after maintaining its outlook for annual home deliveries at the upper end of its guidance range. The company’s first-half results showed a 13% rise in new home completions to 5,189, while underlying operating profit increased 10% to GBP 189.1 million. Group revenue rose 15% to GBP 1.73 billion.
Persimmon said it remained on track to complete around 12,500 homes for the full year, provided there is no material change in market conditions. The company’s private forward sales position also increased 5% to GBP 1.31 billion. Affordability pressures and higher construction costs continue to affect the UK housing market, although demand has remained relatively steady.
Among midcap stocks, WPP surged 28.6%, putting it on track for its biggest single-day percentage gain in more than three decades. The advertising group said its trading trajectory had improved in recent months, although adjusted revenue declined 4.7% in the first half.
Insurer Admiral rose 5.4% after reporting its first-half results and announcing a GBP 45 million share buyback. The company reported profit before tax from continuing operations of GBP 429.2 million for the first half.
In the property sector, real estate investment trust Tritax Big Box REIT fell 4.1%, making it the top decliner in the FTSE 100. The company placed a GBP 350 million share sale at GBP 1.64 per share. Tritax Big Box focuses on UK logistics real estate, including large-scale distribution and warehousing assets.
The broader UK construction sector showed some signs of improvement during the month, with commercial construction and housebuilding declining at a slower pace, according to an S&P Global survey. Builder optimism also reached its highest level since before the Iran war.
Investors are now awaiting US non-farm payrolls data for further indications about labour market conditions and the likely direction of interest rates. The data could influence broader market sentiment and expectations around monetary policy.
Source Reuters
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