UK Stocks End on Higher Note
On Tuesday, the UK's FTSE 100 index recorded its highest closing since early April, rising by approximately 0.6% to settle at 8,463.5. This achievement culminated in the index's 12th consecutive day of gains, the longest such streak since 2017. Leading the index's rise, Howden Joinery Group saw a substantial 4.6% increase after announcing a 3% revenue growth for the first four months of the year and reaffirming its 2025 projections. Entain also experienced a 3% uptick, reporting an unexpectedly strong start to the year in net gaming revenues, alongside the appointment of Stella David as its new CEO. HSBC Holdings, the UK's largest bank, rose by 2.6%, buoyed by a multibillion-dollar share buyback initiative, despite a slump in profits and revenue. Conversely, AB Foods, Primark's parent company, experienced the largest drop, declining by 9.2% following interim results that included lowered earnings guidance. Additionally, BP's shares fell by 2.4% after reporting a 48% plunge in net profits, amounting to $1.4 billion.
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