TSX futures point slightly higher ahead of key employment figures
Investing.com -- British stocks traded higher on Wednesday, while the pound climbed above $1.34 after falling below that mark the previous day, as Chancellor Rachel Reeves announced the date for the Budget.
The blue-chip index FTSE 100 rose 0.7% and the British pound gained 0.5% against the dollar to above 1.34.
DAX index in Germany gained 0.7%, the CAC 40 in France rose 0.9%.
U.K. Chancellor sets Budget date
U.K. Chancellor Rachel Reeves said Wednesday that the Budget will take place on November 26, focusing on an economy she says "isn’t working well enough for working people."
In her statement, Reeves acknowledged ongoing cost of living pressures while emphasizing the need to maintain strict fiscal discipline.
CMA investigates Primary Health’s bid for Assura
In other U.K. news, the Competition and Markets Authority (CMA) launched a Phase 1 investigation into Primary Health Properties’ (LON:PHP) £1.8 billion acquisition of Assura PLC (LON:AGRP).
The inquiry will assess whether the deal could substantially lessen competition in any UK market. The initial review period runs from September 4 to October 29.
Bakkavor lifts profit outlook after strong H1
Bakkavor Group PLC (LON:BAKK) reported strong first-half 2025 results, with revenue from continuing operations in the UK and US rising 0.9% to £1.08 billion and like-for-like sales up 1.2%.
Adjusted operating profit increased 9.8% to £61.5 million, improving margins by 50 basis points to 5.7%. Return on invested capital reached 11.2%, prompting an upgrade to full-year profit guidance.
Ashtead stock gains after in-line Q1, upgraded cash flow forecast
Ashtead Group PLC (LON:AHT) shares rose after the equipment rental company posted quarterly results aligned with forecasts and increased its free cash flow guidance due to favorable US tax changes.
First-quarter revenue grew 2% year over year to $2.8 billion, with rental revenue up 2.4%. The US General Tool segment increased 1% and Specialty rose 5%, while the UK business declined 2%.
M&G shares drop as H1 profit misses estimates
M&G Plc (LON:MNG) shares closed 0.4% lower after the asset manager reported total adjusted operating profit of £378 million for the first half, 5.1% below consensus expectations of £398.4 million, despite assets under management and capital levels exceeding forecasts.
Hilton Food shares sink as H1 profit declines despite higher revenue
Hilton Food Group Plc (LON:HFG) shares plunged more than 17% to 679 pence after reporting lower first-half profit despite revenue growth.
For the 26 weeks to June 29, the UK-based food producer posted pretax profit of £24.3 million ($32.5 million), down from £25.5 million a year earlier.
Adjusted pretax profit remained largely unchanged at £33.6 million.
Cairn Homes raises full-year outlook despite lower H1 profit
Cairn Homes raised its full-year 2025 guidance despite posting lower first-half profit, citing strong demand from first-time buyers that boosted its order book to €1.54 billion.
The Irish homebuilder now expects revenue of about €945 million and operating profit of €160 million to €165 million this year, up from previous forecasts of more than 10% revenue growth and approximately €160 million in operating profit.