London shares opened Tuesday with a mixed tone as the FTSE 100 rose slightly to 9,664.33, boosted by HSBC, while the FTSE 250 fell 0.2% to 22,465.90 and the AIM All-Share slipped 0.6% to 768.01.
Investors remain focused on the upcoming US-China meeting in South Korea later this week, with hopes for a trade deal keeping markets on edge.
US President Donald Trump visited Tokyo, signing an agreement with Japan to secure supplies of critical minerals and rare earths, aiming to reduce dependence on China amid Beijing’s tighter export controls.
Airtel Africa led the FTSE 100 with a 7.4% gain after reporting strong half-year results.
Pretax profit soared to $656 million from $178 million a year ago, driven by currency gains and operational improvements. Revenue jumped 26% to $2.98 billion, while EBITDA rose 33% to $1.45 billion, with margins expanding to 48.5%. The company increased its dividend by 9.2%. CEO Sunil Taldar highlighted the “substantial” growth opportunity across its markets.
HSBC climbed 3.1% after raising its profitability outlook for 2025. The bank reported a 14% drop in quarterly pretax profit to $7.30 billion, with diluted earnings per share down 18% to $0.28. Net interest and fee income rose 15% and 12% respectively, supporting management’s guidance of mid-teens returns on average tangible equity. CEO Georges Elhedery said the progress gave confidence in meeting upgraded targets.
On the FTSE 250, C&C Group fell 0.9% despite reporting a 57% rise in first-half pretax profit to €25.8 million. Net revenue declined 4.1% following the transfer of Budweiser Brewing Group volume in Ireland. The company declared an interim dividend of 2.08 cents per share and reaffirmed plans to return €150 million to shareholders by 2027. CEO Roger White noted the firm is well-prepared for the festive period despite challenging conditions.
On the AIM index, Idox jumped 25% after agreeing to a takeover by a company controlled by Long Path Partners. The offer values shares at 71.5p, 27% above Monday’s close, implying a total equity value of £339.5 million. The board unanimously backed the acquisition, citing plans to invest in Idox’s product suite and the deal’s alignment with shareholder interests. Completion is expected in the first quarter of 2026.