Uber stock surges after Nvidia partnership announcement
Investing.com -- British stocks fell on Tuesday as trading resumed following Monday’s U.K. bank holiday, with global markets digesting U.S. President Donald Trump’s decision to dismiss Federal Reserve Governor Lisa Cook.
The blue-chip index FTSE 100 declined 0.6% and the British GBP/USD gained 0.2% against the dollar, approaching the 1.35 mark.
DAX index in Germany dropped 0.4%, the CAC 40 in France fell 1.7%.
Fed’s Cook rejects Trump’s attempted dismissal
Trump announced that he was removing Federal Reserve Governor Lisa Cook, alleging misconduct related to mortgage loans.
Cook quickly countered the claim, issuing a statement asserting that the president lacks the legal power to dismiss a sitting Fed governor.
She emphasized that she would remain in her position and “continue to carry out my duties to support the U.S. economy.”
Ashtead Technology shares jump on strong first-half results
Ashtead Technology Holdings PLC (LON:AT.) shares closed over 6% higher after earlier gaining more than 12%. The company reported higher revenues and profits in the first half, despite challenges from U.S. tariffs and weaker activity in offshore wind projects.
Revenue climbed 23.2% year-on-year to £99.1 million, slightly above the Visible Alpha consensus forecast of £98.9 million. The growth was driven by both organic expansion and contributions from the Seatronics and J2 Subsea acquisitions.
Bunzl shares gain as H1 results meet expectations, buyback resumes
In other market news, Bunzl PLC (LON:BNZL) shares rose more than 5% after the British company reported first-half results that met expectations.
Revenue for the six months ended June was £5.76 billion, matching consensus estimates. Organic growth declined 0.2%, better than the expected 0.8% drop, while adjusted EBITA reached £404.5 million against forecasts of £405.3 million, with a margin of 7.02%.
The company also reaffirmed its 2025 outlook and resumed its share buyback program.
ITM Power announced strategic hydrogen partnership with ABO Energy
ITM Power (LON:ITM) announced its Hydropulse unit has formed a strategic partnership with renewable energy developer ABO Energy.
The collaboration will focus on developing decentralized hydrogen production units near or on customer sites, combining ABO Energy’s industry contacts and international development capabilities with Hydropulse’s expertise in building modular hydrogen production plants using ITM’s electrolyser technology.
BAT CFO Soraya Benchikh steps down
British American Tobacco PLC (LON:BATS) announced that Chief Financial Officer Soraya Benchikh has stepped down with immediate effect after approximately 15 months in the role.
Javed Iqbal, who previously served as interim finance director from May 2023 to April 2024, will return as interim CFO while the company searches for a permanent replacement.
Sidara trims takeover proposal for John Wood Group
John Wood Group PLC (LON:WG) said that Dubai-based Sidara has lowered its potential takeover proposal to £207.55 million ($279.3 million).
Sidara, owned by Dar Al-Handasah Consultants Shair and Partners Holdings, indicated it is willing to acquire the Scottish energy-services provider for 30 pence a share after completing due diligence.
Wood stated it would be ready to recommend the new terms if a formal offer is made.
FCA approves LSE’s new PISCES private market
Britain’s Financial Conduct Authority has approved the London Stock Exchange to operate a new type of private stock market called the Private Intermittent Securities and Capital Exchange System.
The PISCES platform will function as a marketplace where buyers and sellers can trade shares in private companies on an intermittent basis.
Revolution Beauty names Tom Allsworth CEO
Revolution Beauty Group PLC (LON:REVB) announced that Tom Allsworth is returning as CEO, with Colin Henry, who had been serving as interim CEO, stepping down from his position.