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FTSE 100, FTSE 250 up 0.2%
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WPP ( WPP ) slumps after slashing annual profit guidance
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Hochschild mining drops 3.7%
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Jet2 ( DRTGF ) slides on economic uncertainty
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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.