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UK shares gain with corporate updates in focus
Jul 9, 2025 2:50 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

*

FTSE 100, FTSE 250 up 0.2%

*

WPP ( WPP ) slumps after slashing annual profit guidance

*

Hochschild mining drops 3.7%

*

Jet2 ( DRTGF ) slides on economic uncertainty

*

British America Tobacco gains after bullish brokerage view

July 9 (Reuters) - The UK's main stock indexes rose on

Wednesday, with investors focusing on a slate of corporate news

while awaiting further updates on tariffs.

Both the blue-chip FTSE 100 and the domestically

oriented midcap index added 0.2% by 0915 GMT.

U.S. President Donald Trump announced steep tariffs on

copper imports on Tuesday, along with threatening

soon-to-be-announced levies on semiconductors and

pharmaceuticals.

Copper prices came under pressure on the London Metal

Exchange with precious metal miner stocks under

sectoral declines.

Hochschild slipped 3.7% and Fresnillo was

down 1%.

Media stocks were the laggards on the index

with advertising group WPP ( WPP ) slumping 16.6% to the bottom

of the blue-chip after slashing its annual profit guidance.

Future slipped 3.3% with ITV and 4imprint

group was marginally down.

Pharmaceutical stocks were in the red, with

investors awaiting further updates on tariffs affecting the

sector, as drugmakers AstraZeneca ( AZN ) and GSK were

marginally down.

Among individual stocks, low-cost airline Jet2 ( DRTGF )

shares lost almost 6% as global economic uncertainty and late

bookings outweighed the company's

annual increase in pre-tax profit.

British American Tobacco ( BTI ) was the top gainer on the

blue-chip, adding 3.4% after Jefferies assumed coverage on

global tobacco with a bullish view and called the company its

top pick.

Energy services firm Hunting jumped 10.3% to the top

of the midcap index after launching a $40 million share buyback

program and hiking its annual dividend growth target.

Lender Close Brothers fell 8.1% with the firm

planning to streamline its premium finance business in a bid to

save costs.

Commercial vehicle rental provider ZIGUP slumped

8.9% on lower annual profit.

Sustainable water solutions manufacturer Genuit Group

added 6.2% after a J.P. Morgan rating upgrade.

In company news, pub operator Young & Co's Brewery

reported sales growth with warmer weather driving demand for its

offerings.

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