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FTSE 100 and FTSE 250, both down 0.3%
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NatWest ( NWG ) shines on H1 profit rise, share buyback
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Marshalls tumbles on downbeat FY profit outlook
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UK retail sales rise by 0.9% in June
July 25 (Reuters) - London's main stock indexes slipped
on Friday as investors assessed a mixed bag of corporate
earnings and awaited updates on EU-U.S. trade talks.
The internationally oriented FTSE 100 fell 0.3% as
of 0939 GMT, pulling back from its all-time peak reached on
Thursday, but was on track to register its fifth straight weekly
gain. The midcap FTSE 250 index also lost 0.3%.
Data showed British retail sales rose by 0.9% in June, a
partial rebound from May's 2.8% plunge which was the biggest
fall since December 2023.
A survey showed consumer confidence dipped this month ahead
of possible tax increases later this year and households added
to their savings.
Construction and materials stocks led the
sectoral decline, falling 1.8%, dragged down by Marshalls
, which tumbled 21.6%, on downbeat full-year adjusted
pre-tax profit forecast.
Precious metal miners lost 1.7%, tracking a
fall in gold prices. Hochschild Mining fell 2.8%,
Endeavour Mining ( EDVMF ) lost 1.3%, and Fresnillo down
2.2%. Automobiles rose 0.7%.
In corporate updates, NatWest ( NWG ) rose 1.9% after the
lender said its profit increased by 18% in the first half and
the company announced a new share buyback worth 750 million
pounds ($1.01 billion).
Wizz Air ( WZZAF ) jumped 8.8% after Barclays upgraded the
budget carrier to "overweight".
Close Brothers surged 8.6% after announcing the
sale of its execution services and securities business,
Winterflood, to Marex ( MRX ) for 103.9 million pounds.
On the flip side, Rightmove ( RTMVF ) fell 1.2% after warning
it expects sales growth in the second half of 2025 to be lower
than the first half's 10%.
Jupiter Fund Management ( JFHHF ) fell 5.1% after the wealth
manager reported lower half-yearly pre-tax profit.
Investors await to see whether the European Union can reach
a trade deal with the U.S. before U.S. President Donald Trump's
August 1 deadline.
Meanwhile, British Prime Minister Keir Starmer will lobby
Trump to accelerate a final deal to cut tariffs on British
steel, the Financial Times reported.