European equities made a mixed start on Tuesday, but the FTSE 100 grabbed headlines after topping 9,000 points for the first time in its 41-year history.
London’s blue-chip index briefly peaked at 9,016.98 in early trading, before settling 0.1% higher at 9,004.30. Year-to-date, it’s now up 10%. The FTSE 250 also added 0.1% to 21,738.17, while the AIM All-Share gained 0.4% at 776.91.
Experian led the FTSE 100 risers, jumping 4.8% after reporting a “strong” first quarter. Revenue rose 12% year-on-year, with organic growth up 8%. North America drove the performance, with 9% organic growth, while the UK lagged at 1%.
Barratt Redrow sank 10% despite flagging a “solid” full-year. Home completions missed guidance, particularly in London, denting sentiment despite profits tracking expectations.
ConvaTec dropped 3.8% after flagging a 1-2% revenue hit if proposed US Medicare cuts to skin substitute payments go ahead. The company warned the move risks reducing patient choice but doesn’t expect any impact before 2026.
B&M European Value Retail was the worst FTSE 100 performer, plunging over 9%. While first-quarter revenue grew 4.4%, UK like-for-like sales disappointed at 1.3%, below the 2-3% market benchmark. Shares are down around 50% over 12 months.
In the AIM market, Sosandar tumbled 20%. The fashion retailer slashed guidance after a cyberattack at Marks & Spencer, one of its key online partners. Revenue and profit are both now expected to undershoot consensus forecasts.
City Shake-Up Underway
Meanwhile, the UK’s financial watchdog confirmed it will slash red tape to make London’s stock markets more competitive. The overhaul comes ahead of Chancellor Rachel Reeves’ Mansion House address, where she is set to unveil “Leeds Reforms” focused on growth-friendly regulation.