US stock futures dip as Trump’s firing of Cook sparks Fed independence fears
Investing.com -- After crossing the 9,000 mark for the first time ever during morning trading in London on Tuesday, the FTSE 100 index closed lower alongside other European indices, with the pound declining below the $1.34 mark.
The blue-chip index FTSE 100 dropped slightly by 0.7% and the British pound fell 0.2% against the dollar and sits just below the 1.34 mark.
DAX index in Germany declined 0.3%, the CAC 40 in France dropped 0.5%.
Trump says Britain would fight for U.S.
U.S. President Donald Trump said he believes Britain would stand with the United States in a conflict, but expressed doubts about whether European Union nations would do the same, according to an interview with the BBC published Tuesday.
Trump pointed to this uncertainty as a significant reason behind his decision to withhold a trade agreement with the EU, while offering Britain certain exemptions from his tariff program.
"I believe that the UK would fight with us," Trump told the BBC. "I think that they would be with us. I’m not sure that a lot of the other countries would be."
A new milestone
The blue-chip index rose approximately 15 points to reach 9,016 in the initial trades of the day, marking a historic milestone for the benchmark.
However, the index was unable to maintain this level and subsequently retreated below the 9,000 threshold as the morning session progressed.
Rio Tinto CEO names new CEO
Rio Tinto (LON:RIO) (NYSE:RIO) has appointed Simon Trott as its next chief executive officer, effective August 25, replacing Jakob Stausholm who announced his departure in May.
Trott currently leads the mining giant’s iron ore division and has been with the company for more than 20 years.
His previous roles include chief commercial officer, and he has overseen the launch of Rio Tinto’s largest new iron ore mine in over a decade in Western Australia.
BoE updates MREL rules
In other news, the Bank of England on Tuesday updated its approach for setting minimum requirements for own funds and eligible liabilities (MREL) following a consultation period that ran from October 2024 to January 2025.
The central bank received 26 written responses and made revisions to ensure a "robust and proportionate foundation for managing bank and building society failures." Key changes include increasing total assets indicative thresholds to £25 billion–£40 billion from January 2026.
Experian (OTC:EXPGF) tops Q1 organic revenue forecasts
Meanwhile, Experian PLC (LON:EXPN) reported 12% revenue growth at constant exchange rates in its first-quarter trading update for full-year 2026.
Organic revenue increased 8%, exceeding analyst expectations of 7%.
The credit data firm reaffirmed its financial outlook for the year.
Barratt Redrow (LON:RDW) stock falls after FY26 outlook disappoints
Barratt Redrow’s stock fell after the U.K. homebuilder’s fiscal 2026 outlook and home completion figures missed market expectations, despite reassurances about its current-year profit projections.
Shares in the company dropped more than 9% after Barratt Redrow reported that total home completions declined 7.8% to 16,565 units, falling short of its previously guided range of 16,800 to 17,200 homes.
The company attributed the underperformance to weaker-than-expected activity in London, particularly citing reduced demand from international buyers and private rental sector investors.
While Barratt Redrow stated it expects to deliver full-year 2025 profit in line with market expectations and highlighted progress in its Redrow integration, investors appeared more concerned about the forward-looking indicators. The company’s fiscal 2026 guidance disappointed the market amid renewed affordability concerns that have weighed on private buyer demand.
B&M shares drop as Q1 sales growth misses expectations
Shares of B&M European Value Retail SA (LON:BMEB) (LON:BMEB) also fell more than 9% after the discount retailer reported first-quarter sales growth that fell short of market expectations.
The company’s like-for-like sales in its B&M UK segment increased by 1.3% for the 13 weeks ended June 28, significantly below analyst forecasts of 2.6% growth.
Two-year like-for-like sales declined by 3.8%, a deterioration from the 0.5% increase recorded in the previous quarter.
Group revenue rose 4.4% year-over-year to £1.41 billion during the quarter. The B&M UK segment, which is the company’s largest division, contributed £1.13 billion, representing a 4.7% increase compared to the same period last year.
Standard Chartered offers spot Bitcoin, Ether trading
Standard Chartered (LON:STAN) announced Tuesday it has begun offering spot trading for bitcoin and ether through its U.K. branch for institutional clients.
The bank claims to be the first global systemically important bank to provide regulated access to bitcoin and ether deliverable spot trading.