FTSE 100 today: Index rises, pound strengthens; Tullow Oil slumps, Hiscox rises

Investing.com -- British stocks gained on Wednesday and the pound strengthened as major U.K.-listed companies reported earnings, with Hiscox and Tullow Oil emerging as key movers.

The blue-chip index FTSE 100 rose 0.3% and the British pound gained 0.5% against the dollar to 1.3358. 

DAX index in Germany rose 0.3%, while the CAC 40 in France gained 0.2%. 

FTSE movers: Glencore (OTC:GLNCY) , Tullow plunge on weak earnings; Hiscox rallies on buyback

Glencore PLC (LON:GLEN) shares fell 5.4% in London after the mining giant reported lower first-half earnings due to weaker coal prices and reduced copper production.

The company’s adjusted EBITDA dropped 14% year-on-year to $5.43 billion, slightly below analyst expectations of $5.56 billion.

Glencore also posted a deeper net loss than anticipated, largely due to a significant impairment on its Colombian coal assets.

In other London trading, Tullow Oil Plc  (LON:TLW) shares plunged 19% after the oil producer reported a first-half loss of $61 million, missing forecasts for a $76 million profit.

The company also cut its free cash flow guidance as it faces ongoing production challenges at its Jubilee field in Ghana. Revenue fell to $524 million, 13% below analyst expectations.

Legal & General (LON:LGEN) shares declined 2% after the insurer reported a Solvency II capital ratio of 217%, missing consensus by 3 percentage points. This figure excludes an additional 6-point drag from temporary impacts related to its non-retained U.S. business.

Wealth manager Quilter (LON:QLT) delivered positive results with net inflows of £4.5 billion ($6 billion), exceeding analyst forecasts.

The company said it will evaluate its capital position once an ongoing advice review is completed.

Brick manufacturer Ibstock PLC reported a 9% increase in first-half revenue to £193 million, driven by strong volume growth in its clay division.

However, adjusted EBITDA fell by £5.8 million to £36 million due to softer pricing and less favorable sales mix. The company noted an "encouraging start" to the second half.

Coca-Cola European Partners (NASDAQ:CCEP) (BME:CCEP) shares dropped 9.2% after the bottler lowered its full-year revenue growth guidance to 3-4% from around 4% previously.

The reduction primarily reflects weakness in Indonesia, where volumes declined by double digits.

4imprint Group (LON:FOUR) shares fell 9.7% after reporting a 1% decrease in first-half revenue to $659.4 million amid challenging market conditions.

Despite this, the company improved its operating profit margin to 10.7% from 10.5% a year earlier.

Hiscox (LON:HSX) shares jumped 9.4% after the insurer expanded its share buyback program to $275 million, adding $100 million to its existing plan.

The company reported growth in total insurance-contract written premiums to $2.94 billion in the first half, up from $2.78 billion a year earlier.

International Airlines Group (LON:ICAG) shares declined 1.8% following a downgrade from UBS to "sell" from "neutral."

Despite strong first-half performance, the bank warned of softening transatlantic demand, UK economic headwinds, and uncertainty around the company’s loyalty program.