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Investing.com -- British stocks fell on Tuesday, mirroring broader European losses and the pound weakened against the dollar, with ICG surging while WPP shares declined.
The blue-chip indexFTSE 100 dropped 1.5% and the GBP/USD was flat against the dollar at 1.3150.
The DAX index in Germany fell 1.8%, and the CAC 40 in France dropped 2.1%.
UK round up
- Imperial Brands PLC (LON:IMB) reported a 16.5% drop in reported earnings per share for the year ended Sept. 30, falling to 251.1 pence. The tobacco group attributed the decline to higher tax charges and costs linked to its 2030 strategy. However, adjusted earnings per share rose 9.1% on the back of profit growth and a reduced share count. The company posted a 0.7% decline in reported revenue to £32.17 billion, citing lower tobacco revenue tied to volume declines and foreign-exchange movements.
- ICG PLC (LON:ICGIN) shares rose after the London-based alternative asset manager reported first-half fiscal 2026 results that exceeded consensus across core measures. The company also announced a 10-year global distribution partnership with Amundi. ICG posted Fund Management Company pre-tax profit of £325 million for the six months ended Sept. 30, 23% ahead of consensus expectations of £263 million. Total fundraising reached $9 billion, compared with expectations of $5.4 billion.
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Shares of WPP PLC (LON:WPP) fell approximately after Havas Group denied media reports about merger or investment discussions between the two advertising groups. The stock price decline came in response to Havas explicitly rejecting speculation that had been published by The Times and other news outlets. Those reports had suggested Havas and several private-equity firms were considering potential transactions involving WPP. According to the earlier media coverage, Apollo Global Management and KKR were among the private-equity firms that had allegedly evaluated possible deals with WPP.
- Diploma PLC (LON:DPLM) reported higher revenue, profit and cash generation for the year ended Sept. 30, 2025. The specialist distribution group said revenue rose to £1.52 billion from £1.36 billion a year earlier, supported by 11% organic revenue growth compared with 6% in fiscal 2024. Adjusted operating profit increased to £342.7 million from £285 million, while statutory operating profit rose to £283.7 million from £207.4 million.
- Greencore Group (LON:GNC) reported full-year 2025 results with group revenue rising 7.7% to £1.95 billion. Adjusted operating profit jumped 28.9% to £125.7 million and margins improved by 110 basis points to 6.5%. EBITDA during the year jumped around 18% to £181.2 million, while profit before tax soared 29.3% to £79.5 million.
- Softcat PLC (LON:SCTS) reported a solid start to its new financial year, delivering strong double-digit year-on-year growth in gross profit and underlying operating profit in the first quarter of fiscal 2026. The company said growth remained broad-based across technology areas and customer segments.
- UK homebuilder Crest Nicholson Holdings plc (LON:CRST) announced it expects its annual profit to come in at the low end of, or marginally below, its previous guidance range of £28-38 million. The company cited a subdued housing market through the summer and uncertainty around government tax policy ahead of the upcoming Budget as factors affecting performance. Crest Nicholson reported it will deliver approximately 1,691 housing units for the fiscal year ending October 31, at the lower end of its 1,700-1,900 unit guidance.
- Swiss electronics manufacturer Cicor Technologies Ltd has made a final revised offer for UK’s TT Electronics Plc (LON:TTG), introducing an all-cash option of 150 pence per share alongside a share alternative. The updated offer has received unanimous recommendation from TT Electronics’ board.
- The Bank of England is preparing to ease parts of Britain’s bank ring-fencing regime while resisting a major reform sought by lenders. Under the ring-fencing framework, lenders with more than £35 billion in retail deposits must separate their consumer operations from activities such as investment banking, rules affecting Lloyds, NatWest, HSBC, Barclays and Santander UK.