The FTSE 100 (UKX) hovered near flat on Tuesday, following its record close on Monday.
Healthcare stocks weighed on the index, with AstraZeneca (LON:AZN) and GSK (LON:GSK) down around 1%, while BAE Systems (LON:BA) also slipped.
Gold miners Fresnillo (LON:FRES) and Endeavour Mining (LON:EDV) paused their recent rally, keeping the index largely steady.
Whitbread (LON:WTB) shares jumped over 4% after the Premier Inn owner said the impact of the UK budget on costs would be lower than expected, easing margin pressures.
Diageo (LON:DGE) rose about 2% amid reports it is reviewing options for its China business, including a potential sale, boosting hopes of value creation.
Persimmon (LON:PSN) opened 2% higher after projecting earnings above expectations, supported by better pricing and a solid start to Boxing Day sales. Despite these bright spots, UK retail data suggested weaker discretionary spending, with growth slowing for a fourth consecutive month in December.
Rentokil (LON:RTO) slipped 0.2% after appointing Mike Duffy as its new chief executive from March 16, joining from logistics firm OnTrac.
Notable Movers
Games Workshop fell 3.4% despite reporting a “record” first-half performance. Revenue for the 26 weeks to November 30 rose to £332.1 million from £299.5 million a year earlier, driven by core revenue of £316.1 million.
Pretax profit climbed to £140.8 million from £126.8 million, while earnings per share increased to 319.9p from 288.9p. The group declared a dividend of £1.10 per share, taking total dividends for financial 2026 to £4.85, up from £4.20 the previous year.
On the FTSE 250, Trustpilot surged 8.7% after forecasting bookings growth of 22% to $291 million in 2025, with annual recurring revenue up 28% to $296 million and total revenue rising 24% to $261 million.
THG gained 5.6% following second-half revenue growth of 6.7%, exceeding guidance by around 14%, with Beauty and Nutrition segments contributing.
Macro & US Focus
Markets largely shrugged off renewed concerns over Federal Reserve independence after President Trump escalated criticism of Chair Jerome Powell, prompting strong defence from senior Fed officials. Two Republican senators also questioned the credibility of the Justice Department in its actions.
Attention now shifts to the US earnings season, with JPMorgan Chase and Delta Air Lines reporting later on Tuesday, alongside the latest consumer price inflation figures.
European Markets
The DAX in Frankfurt was little changed near record highs of 24,415, supported by positive corporate updates. Symrise surged nearly 7% after announcing plans to divest its terpenes business and initiate a large share buyback, while Zalando gained over 5% following a Barclays upgrade. Heidelberg Materials led losses, down 2%, followed by E.ON, Fresenius Medical Care, and Qiagen-NV, each falling around 1.3%. Autos remained under pressure.
In the US, Wall Street closed slightly higher on Monday, with the Dow up 0.2%, the S&P 500 up 0.2%, and the Nasdaq Composite adding 0.3%.
FTSE 100 Top Gainers
| Company | Ticker | Gain |
|---|---|---|
| Whitbread | WTB | +4.80% |
| Mondi | MNDI | +2.66% |
| British Land | BLND | +1.81% |
| Pershing Square Holdings | PSH | +1.57% |
| Barclays | BARC | +1.44% |
FTSE 100 Top Fallers
| Company | Ticker | Drop |
|---|---|---|
| Games Workshop | GAW | -2.81% |
| ICG Plc | ICG | -1.83% |
| Centrica | CNA | -1.76% |
| Admiral | ADM | -1.69% |
| Endeavour Mining | EDV | -1.68% |