08:20 — FTSE 100 opens higher, Next and Glencore among early risers
The FTSE 100 opened higher, as expected, marked at 10,904.01, up 24 points.
Next (LSE:NXT) leads the gainers, up 4.59% to 15,490p, after the retailer raised full-year pre-tax profit guidance by £25m to £1,243m on second-quarter full-price sales up 9.2% against a forecast of 4.0%.
Next said sales ran £70m ahead of forecast, split £19m in the UK and £51m overseas, crediting warm UK weather and pent-up demand in the Middle East and Northern Europe.
Glencore (LSE:GLEN) at 574.061p, was up 4.26%, following its half-year report.
4imprint (LSE:FOUR) has climbed to a fresh 52-week high of 4,597.9966p, up 4.74%, after half-year results showed strong retention of existing customers.
A cluster of resources names were also on the move: Greatland Gold (AIM:GGP) up 5.19% to 547.5p, Fresnillo (LSE:FRES) up 3.72% to 2,726.731p at a session high, and Antofagasta (LSE:ANTO) up 3.59% to 4,072p, with gold futures still elevated at $4,229.8, up 1.86%.
08:05 — Next, L&G upgrade guidance as Glencore, Tullow also report
Looking at the early headlines in London:
Next (LSE:NXT) has raised its full-year pre-tax profit guidance by £25m to £1,243m, up 7.3% on the year, after second-quarter full-price sales grew 9.2% versus a forecast of 4.0%. The retailer said sales came in £70m ahead of forecast, split £19m in the UK and £51m overseas, crediting warm UK weather, pent-up demand in the Middle East and Northern Europe, and higher spend on profitable marketing. Read more: Next lifts full-year profit guidance after strong Q2 sales beat.
Coca-Cola HBC, the bottler, has upgraded its 2026 guidance after organic revenue growth of 9.6% in the first half, with organic volume up 7.5% driven by Sparkling (+6.4%) and Energy (+26.1%). Reported revenue grew 10.8%, helped by FX alongside the underlying volume strength.
Legal & General posted 11% core operating EPS growth in its half-year results, with core operating profit up 7% and roughly £450m completed of its £1.2bn buyback programme. CEO António Simões pointed to Asset Management as the standout, with fee-related earnings up 37% and a reduced cost-income ratio of 71%; the board confirmed a 2% interim dividend increase. Read more: L&G raises profit guidance after 11% core EPS growth.
Santander (LSE:BNC) confirmed it has received Federal Reserve approval for its Webster Financial acquisition, following earlier sign-off from the Office of the Comptroller of the Currency and the European Central Bank, clearing the last of the regulatory approvals needed to close the deal.
HSBC (LSE:HSBA) has launched tender offers to buy back up to $5bn of notes across four series, with the offers expected to open by 10:00am New York time today.
Glencore (LSE:GLEN), Tullow Oil (LSE:TLW), Air Astana (LSE:AIRA), Harworth Group (LSE:HWG) and Central Asia Metals (AIM:CAML) also reported this morning.
06:45 — FTSE 100 seen higher after Wall St rally
The FTSE 100 is seen firmer ahead of Wednesday's open, with IG Market's early pre-market quote marked at 10,918.9, up 25.9 points from Tuesday's close.
That follows a sharp Wall Street rally with the Dow up 950 points, or 1.79%, to 54,128 last night.
The S&P 500 was up 1.84% to 7,740.12, and the tech-heavy Nasdaq Composite was the standout, up 2.63% to 26,595.
It came as Treasury Secretary Bessent's comments on a possible Iran deal lifted risk appetite and pushed crude lower, alongside a run of strong corporate earnings. This was the latest in a number of comms out from the Trump Administration pointing to de-escalation.
Asia carried the momentum, with Japan's Nikkei surging 3.53% to 66,216.38.
In the oil market, the price of Brent crude was down 0.84% at $78.24, and the WTI contract is off 1.09% at $74.19.
Gold added 1.09% to $4,197, whilst the dollar index was marked at 99.845, the pound was marked against the dollar near $1.3456, and in crypto markets Bitcoin and Ether were only modestly higher overnight.
