ION expands ETF trading capabilities with Tradeweb integration
Investing.com -- British stocks closed flat on Tuesday afternoon, despite rising earlier in the session after being supported by bank gains after the BoE lowered its capital requirements benchmark. The pound remained weak against the dollar and wider European markets were mixed.
The blue-chip indexFTSE 100 inched 0.01% lower and the British GBP/USD dropped 0.2% against the dollar to 1.3184.
The DAX index in Germany rose 0.5%, and the CAC 40 in France fell 0.3%.
Get stock picks from Wall Street analysts by upgrading to InvestingPro - get 55% off today
UK round up
British bank stocks climbed after the Bank of England reduced its benchmark for system-wide bank capital requirements, a move that could potentially free up more capital for lending and shareholder returns. The Financial Policy Committee (FPC) cut its benchmark for Tier 1 capital requirements to approximately 13% of risk-weighted assets, down from the 14% level that had been in place since 2015. Following the announcement, shares of Lloyds Banking Group PLC (LON:LLOY) and Barclays PLC (LON:BARC) each gained 1.5%. Standard Chartered PLC (LON:STAN) saw its stock rise 1.4%, while HSBC Holdings PLC (LON:HSBA) added 0.9%.
UK house prices increased by 1.8% year-on-year in November, according to data from Nationwide, showing resilience despite recent Budget pressures. The average UK house price reached £272,998 in November, marking a monthly increase of 0.3% (£772) compared to October’s 0.2% rise. However, the annual growth rate slowed from October’s 2.4% year-on-year increase. This positive momentum contrasts with Rightmove data, which showed asking prices falling by 1.8% month-on-month in November and 0.5% year-on-year, marking the most negative November monthly movement since 2012.
In government news, Richard Hughes resigned as chair of the Office for Budget Responsibility after the UK’s fiscal watchdog mistakenly published Chancellor Rachel Reeves’ budget almost an hour before its scheduled delivery in Parliament. The resignation, announced Monday, followed an oversight board investigation that described the incident as the most serious failure in the OBR’s 15-year history.
In corporate news, Discoverie Group PLC (LON:DSCV) delivered record profitability in the first half of fiscal 2026, with adjusted operating profit rising 5% at constant exchange rates to £30.2 million. The international designer and manufacturer of customized electronics reported revenue growth of 3.5% at constant exchange rates to £216.4 million for the six months ended September 30.
Victrex (LON:VCTX) maintained its dividend despite labeling fiscal year 2026 as a "transition year." The polymer solutions provider reported fiscal year 2025 results with volumes of 4,164 tonnes, up 12% year-over-year, while group revenue reached £293 million, a 3% increase on a constant currency basis.
Shaftesbury Capital PLC (LON:SHCS) reported robust momentum across its West End estates with rent reviews 14% ahead of prior passing rents and a low gearing level of 17%. The company completed 367 leasing transactions year to date, securing £30.2 million per annum in new rent.
On The Beach Group PLC (LON:OTB) reported record total transaction value for the fourth consecutive year, with adjusted profit before tax rising 20% to £35.0 million for the year ended September 30, 2025. Revenue rose 6% to £121.4 million from £114.6 million.
Wizz Air Holdings PLC (LON:WIZZ) carried 5.25 million passengers in November, representing an 8.6% increase compared to the same month last year, while expanding seat capacity by 9.5% to 5.79 million. The European low-cost carrier received its 250th aircraft on Friday, November 28.