Gold bars to be exempt from tariffs, White House clarifies
Investing.com -- British stocks were higher on Tuesday afternoon trade, while the pound weakened and fell back to $1.35 as the dollar strengthened following a recent tariff update from U.S. President Donald Trump and investors awaited further developments on trade agreements.
The blue-chip index FTSE 100 closed 0.6% higher and the British pound fell 0.2% against the dollar to over 1.35.
DAX index in Germany rose 0.8%, the CAC 40 in France rose 0.6%.
Latest on Trump and tariffs
U.S. President Donald Trump extended his trade agreement deadline to August 1 through an executive order signed Monday, leaving room for flexibility if partners propose changes.
He emphasized the date isn’t set in stone and could shift depending on ongoing talks.
Trump also revealed new tariff rates for 14 countries, warning key allies like Japan and South Korea that 25% duties could be enforced without agreements.
Ryanair reports strong summer travel demand, CEO says
Ryanair Holdings PLC (LON:0RYA) is experiencing steady demand for summer travel, with strong bookings and rising ticket prices, according to CEO Michael O’Leary.
Speaking in Warsaw on Tuesday, O’Leary stated that the recent heatwave across Europe has not reduced travel appetite. He described such weather events as a "temporary phenomenon" that has minimal impact on customer behavior.
AB Dynamics falls as CEO Routh steps down
Shares of AB Dynamics (LON:ABDP) fell more than 5% after the company announced that Chief Executive Officer James Routh will step down from his position.
Routh has informed the board of his decision to leave the company after serving seven years in the CEO role, according to a regulatory statement issued by AB Dynamics.
The outgoing CEO will be taking on the chief executive position at Victrex (LON:VCTX), the company said.
Optima Health shares drop 8% as revenue declines in fiscal 2025
Shares of Optima Health (LON:OPT) fell by almost 10% Tuesday after the company released its full-year financial results.
The healthcare company reported revenue of £105 million for fiscal 2025, representing a 5% decrease compared to the previous year.
Adjusted EBITDA was £17.6 million, marking a 2% year-over-year decline. This figure aligned with analyst consensus estimates of £17.5 million.
The company’s financial report indicated slower-than-expected new business growth during the second half of the fiscal year, which contributed to the stock’s negative performance.
Victrex shares drop as CEO Sigurdsson announces retirement
Shares in Victrex (LON:VCTX) fell more than 8% after the polymer solutions manufacturer announced that chief executive Jakob Sigurdsson will retire.
The company said James Routh will take over as CEO, though the timing of his appointment has not yet been finalized.
Sigurdsson will remain in his current role until Routh joins the board to ensure what the company described as an "orderly transition."
SIG (LON:SHI) drops as demand stays weak; new CEO appointed
Shares of British building materials supplier SIG PLC closed more than 6% higher after initially falling more than 3.4% on Tuesday.
The rise was despite the company saying it had not seen a meaningful pick-up in demand during the first half and remained cautious about the second half.
Still, it expects full-year underlying operating profit to match market consensus and named Pim Vervaat as its new CEO.
Glencore (OTC:GLNCY) shares rise as JPMorgan (NYSE:JPM) resumes coverage
Meanwhile, Glencore (LON:GLEN) shares rose 2.9% on Tuesday after J.P. Morgan resumed coverage of the company with an "overweight" rating. The bank set a £3.60 price target for December 2026, suggesting a potential 20% upside.
The brokerage pointed to improving production, capital returns, and the company’s strategic flexibility as key factors for its positive outlook.
J.P. Morgan noted that Glencore has underperformed the MSCI Europe index by 45% since May 2024, primarily due to weak operational results and a decline of more than 25% in coal prices.