Pfizer, Moderna, BioNTech trade lower amid report of vaccine link to child deaths
Investing.com -- British stocks closed higher on Wednesday, while the pound declined as U.K. inflation rose more than expected in July, with the broader European market trading in the red.
The blue-chip index FTSE 100 rose 1.1% and the British pound fell 0.2% against the dollar to 1.3460.
DAX index in Germany slipped 0.6%, the CAC 40 in France dropped 0.1%.
U.K. inflation rises to 3.8% in July
U.K. consumer price inflation increased to 3.8% in July from 3.6% in June, according to official data released Wednesday. The figure came in slightly above the consensus forecast of 3.7%.
Energy prices were a major factor in the inflation rise, with fuel price inflation improving from -9.0% in June to -6.7% in July. This change added 0.1 percentage points to the overall Consumer Price Index (CPI).
Services inflation also pushed the headline figure higher, increasing from 4.7% to 5.0%. This exceeded the Bank of England’s forecast of 4.9%. The services inflation rise was partially attributed to unfavorable base effects in communications and restaurants/hotels sectors.
Ithaca Energy doubles production, raises 2025 outlook
Ithaca Energy PLC (LON:ITH) reported a significant increase in first-half earnings and upgraded its 2025 outlook, driven by higher production and improved cost efficiency.
The North Sea oil and gas producer achieved average production of 123.6 kboe/d in the first half of 2025, more than doubling from 53 kboe/d in the same period last year.
The company’s adjusted EBITDAX climbed to over $1.1 billion, up from $533 million in the first half of 2024. At the same time, unit operating costs decreased to $17.5/boe from $27.3/boe.
Lion Finance delivers record H1 profit, boosts shareholder returns
In other earnings news, Lion Finance Group PLC (LON:BGEO) announced a half-year dividend of GEL 5.10 per share and approved a GEL 98 million share buyback program.
The financial group reported second-quarter profit of GEL 513.2 million, representing a 19.4% increase compared to the same quarter last year.
Lion Finance’s first-half profit rose 28.4% year-on-year to GEL 1.03 billion, with return on average equity reaching 27.9%. The company’s profit before one-off items was GEL 513.2 million for the quarter and GEL 1.03 billion for the half-year.