A packed morning of half-year results has produced a run of upgraded guidance and dividend increases across the FTSE, alongside regulatory clearance for one of the year's larger utility takeovers. Drax dominates the agenda on two fronts, while defence, banking, property and energy names all used first-half numbers to raise expectations for the rest of the year.
Drax clears final hurdle in Bluefield takeover
The UK government has cleared Drax Group (LON:DRX) to proceed with its takeover of Bluefield Solar Income Fund, waving through the deal on national security grounds and removing the last regulatory condition standing in the way of completion. The clearance paves the way for the transaction to close, consolidating Bluefield's solar assets under Drax's ownership.
BAE Systems upgrades full-year outlook on earnings strength
BAE Systems (LON:BA) lifted its full-year guidance across sales, profit and earnings after underlying EBIT rose 11% in the first half. Free cash flow was boosted by customer advances, giving the defence group confidence to raise expectations for the year ahead.
Drax lifts dividend and eyes near-doubling of capacity
Drax Group (LON:DRX) raised its interim dividend as it set out plans to expand its generation portfolio significantly. Chief executive Will Gardiner said the company is "at a key moment in Drax's transition, investing to create a larger and broader portfolio with more MWs under management that can provide more power to the country when needed."
Haleon raises payout as margins widen
Haleon (LON:HLN) increased its interim dividend by 9% as margins expanded despite a difficult consumer backdrop. Chief executive Brian McNamara said the group "delivered a good first half performance in what remains a challenging consumer environment, with sequential improvement in Q2 and a more balanced price and volume/mix."
Lloyds hikes dividend 30% as profit jumps to £4.3bn
Lloyds Banking Group (LON:LLOY) raised its interim dividend by 30% after profit climbed to £4.3bn. The bank said it remains "on track to deliver its 2026 financial targets" ahead of the launch of its new "Accelerate 2030" strategy.
Hammerson raises guidance on Manchester Arndale deal
Hammerson (LON:HMSO) lifted its full-year guidance as its Manchester Arndale acquisition drove growth in the first half. Chief executive Rob Wilkinson called the deal "fully in line with our criteria for increasing our scale, and a retail-led destination at the heart of one of Europe's leading cities," describing it as the company's first major external move of its kind.
LSEG raises guidance after record first half
London Stock Exchange Group (LON:LSEG) upgraded its guidance following a record first-half performance, with chief executive David Schwimmer pointing to growing adoption of artificial intelligence across the business. Schwimmer said "AI in financial services will drive enormous value, but comes with significant challenges for customers," noting thousands of Workspace customers are now using its AI Search tool.
Shell confirms $4.2bn buyback as debt falls
Shell (LON:SHEL) reported second-quarter adjusted earnings lifted by higher realised prices and trading gains, with net debt falling over the period. The group confirmed a new $4.2bn share buyback programme following its acquisition of ARC Resources.
Segro lifts earnings on rental growth and data centre demand
Segro (LON:SGRO) grew earnings per share by 6.6% as rental growth and expanding data centre activity accelerated performance. The industrial and logistics property group secured £53m of new headline rent in the first half, underpinning a raised earnings trajectory through 2030.
Anglo American profit rises 35% as coal disposal advances
Anglo American (LON:AAL) reported a 35% rise in first-half underlying EBITDA to $4.0bn, even as the group swung to a headline loss after writing down its Steelmaking Coal business ahead of its planned sale. The write-down reflects progress toward exiting the coal unit as part of the miner's portfolio simplification.
