British stocks traded higher Wednesday afternoon as inflation held steady, while the pound was mostly flat against the dollar ahead of the U.S. Federal Reserve’s interest rate decision.
As of 11:57 GMT, the blue-chip index FTSE 100 rose 0.25% and the British GBP/USD was flat at 1.36 against the dollar.
DAX index in Germany rose 0.04%, the CAC 40 in France fell 0.22%.
UK inflation steady
UK inflation remained unchanged at 3.8% in August, nearly double the Bank of England’s 2% target, suggesting the central bank will maintain current monetary policy at its Thursday meeting.
The August figure matches July’s rate, which was the highest since January 2024 when inflation stood at 4.0%.
GSK plans $30 bln investment in US
Meanwhile, GSK plc (LON:GSK) announced plans to invest $30 billion in the United States over the next five years. The investment will fund research, supply-chain infrastructure, and new manufacturing facilities, including a $1.2 billion factory near Philadelphia for respiratory and cancer medications.
"Today, we are committing to invest at least $30 billion in the United States over the next 5 years, further bolstering the already strong R&D and supply chain we have in the country," GSK CEO Emma Walmsley said.
AstraZeneca’s asthma drug Fasenra fails in late-stage COPD trial
In other UK news, AstraZeneca PLC’s (ST:AZN) asthma treatment Fasenra did not achieve the primary endpoint in a late-stage clinical trial for patients with chronic obstructive pulmonary disease (COPD).
The pharmaceutical company said the safety and tolerability profile observed in the RESOLUTE trial was consistent with Fasenra’s established profile.
AstraZeneca plans to conduct a comprehensive analysis of the trial results and will share the findings with the scientific community at a later date.
Britain and US boost AI, quantum, nuclear ties
In international relations, Britain and the United States have established a technology agreement to strengthen cooperation in artificial intelligence, quantum computing, and civil nuclear energy.
Leading U.S. companies, headed by Microsoft, have pledged £31 billion ($42 billion) in UK investments.
Shell cuts hours, staffing at Indonesia gas stations
Shell PLC (AS:SHEL) announced adjustments to operational hours and staffing at some of its gas stations in Indonesia due to supply shortages.
Ben & Jerry’s co-founder Jerry Greenfield exits
In corporate news, Ben & Jerry’s co-founder Jerry Greenfield announced his departure from the company after 47 years, ahead of Unilever PLC’s (LON:ULVR) planned spinoff of its ice-cream business.
Greenfield expressed disappointment on social media, writing: "It’s profoundly disappointing to come to the conclusion that that independence, the very basis of our sale to Unilever, is gone."
U.K. corporate roundup: Barratt Redrow profit soars, Moonpig upbeat, SUPR turns profitable
Barratt Redrow PLC (LON:BTRW) reported a significant increase in revenue and profit for the year ending June 29, 2025, as its acquisition of Redrow boosted performance amid challenging housing market conditions.
The UK’s largest housebuilder saw revenue rise 33.8% to £5.58 billion from £4.17 billion in the previous year. Statutory profit before tax jumped 60.5% to £273.7 million, compared to £170.5 million a year earlier.
Adjusted profit before tax, which excludes purchase price allocation related to the Redrow acquisition, reached £591.6 million, up from £385 million in the prior year and slightly exceeding analyst consensus expectations of £582.8 million.
In other corporate news, Supermarket Income REIT PLC (LON:SUPR) returned to profitability in the year ended June 30, reporting IFRS earnings per share of 4.9 pence compared to a loss of 1.7 pence in the previous year.
Net rental income increased 6% to £113.2 million from £107.2 million, while EPRA earnings per share slightly decreased to 6.0 pence from 6.1 pence. The board declared a dividend of 6.12 pence per share, up from 6.06 pence, and set a minimum target of 6.18 pence for 2026.
Moonpig Group PLC (LON:MOONM) shares rose more than 5% on Wednesday after the company reported approximately 10% revenue growth for its Moonpig brand in the first four months of fiscal 2026.
The UK-based consumer technology company said this growth was consistent with the double-digit increase reported through the end of June. The performance was driven by an increase in active customers, over 1 million Moonpig Plus subscriptions, and higher average order values.
LSL Property Services Plc (LON:LSL) reported a £14.8 million underlying operating profit for the first half of 2025, representing a 3% increase from the same period last year.
The company maintained its full-year 2025 guidance for underlying operating profit at £33 million, in line with market consensus. In a separate development, Jefferies issued a "buy" rating on LSL shares with a price target suggesting potential upside of more than 30%.
Source :
https://www.investing.com/news/stock-market-news/ftse-100-today-index-gains-as-inflation-holds-steady-gsk-to-invest-30-bln-in-us-4241595
