Novo Nordisk, Eli Lilly fall after Trump comments on weight loss drug pricing
Investing.com -- British shares slipped on Wednesday as the pound gained against the dollar, while broader European markets were mixed, with France’s CAC 40 rallying on hopes of a political breakthrough.
The blue-chip index FTSE 100 fell 0.4% and the British GBP/USD rose 0.6% against the dollar to 1.34.
The DAX index in Germany closed 0.1% lower, and the CAC 40 in France gained 2%.
FTSE movers: British Land jumps on earnings, PageGroup falls on weak fees
British Land Company PLC (LON:BLND) shares jumped after the company reported an 8.4% rise in underlying profit to £155 million for the six months ended September 30 and reiterated its full-year targets. The property company’s underlying earnings per share reached 15.4 pence compared with 15.3 pence a year earlier, as portfolio values and rental metrics improved during the first half of fiscal 2026.
In other market news, Entain PLC (LON:ENT) reported a 6% increase in third-quarter net gaming revenue, with its online business showing solid momentum. Retail net gaming revenue rose 3% at constant currency, while group revenue excluding the U.S. market increased 5%. The company reaffirmed its full-year guidance for underlying profit of £1.10 billion to £1.15 billion, compared with analyst consensus estimates of around £1.14 billion.
Pagegroup PLC (LON:PAGE) saw its shares decline after reporting a 6.7% like-for-like drop in third-quarter net fees to £187.8 million. The recruitment firm noted that stronger performances in the U.S. and parts of Asia couldn’t offset softer conditions in Europe. Gross profit from permanent placements fell 6.4% to £133.1 million, while temporary placements declined 7.5% to £54.7 million. For full-year 2025, PageGroup expects EBIT to align with market consensus of £21.5 million.
Rathbones Group (LON:RAT) reported a 3.7% rise in funds under management and administration in the third quarter, with total assets reaching £113 billion at the end of September, up from £109.0 billion at the end of June. The company’s shares edged slightly higher in early London trading.
Jupiter Fund Management Plc (LON:JUP) reported net inflows of £0.3 billion in the third quarter, marking its second consecutive quarter of positive flows. Assets under management increased by 7% over the quarter to £50.4 billion, representing an 11% increase for the year to September 30.
Rank Group PLC (LON:RNK) started its 2025/26 financial year strongly, reporting a 9% increase in like-for-like Net Gaming Revenue to £210.2 million for the first quarter. The company saw growth across all business segments, with digital operations leading with a 13% increase to £61.6 million, primarily driven by a 15% increase in the UK business.
Pets at Home Group PLC (LON:PETSP) and CVS Group Plc (LON:CVSG) shares rose over 5% and 4% respectively after the UK’s Competition and Markets Authority proposed significant reforms to the veterinary market.
Capita PLC (LON:CPI) reached a settlement with the Information Commissioner’s Office regarding a March 2023 cyber-attack, agreeing to pay a £14 million penalty, reduced from an initially proposed £45 million.
UK round-up: Bonus rules eased for bankers, Reeves warns of tax rises and cuts
British cloud provider Nscale has reached a deal with Microsoft Corporation (NASDAQ:MSFT) valued at up to $14 billion, the Financial Times reported. The company is also planning to go public in late 2026, according to Chief Executive Josh Payne.
In regulatory news, the Prudential Regulation Authority and Financial Conduct Authority announced they will reduce the bonus deferral period for senior bankers from eight to four years, effective October 16. The new rules will apply to 2025 pay awards and any other awards made but not yet fully paid. The Financial Conduct Authority also announced a simplification of regulatory capital rules for investment firms, removing outdated banking provisions and reducing legal text volume by 70%.
Waymo, owned by Alphabet Inc (NASDAQ:GOOGL), announced plans to bring its fully autonomous ride-hailing service to London, with operations expected to begin in 2026.
Meanwhile, Royal Mail has been fined £21 million by UK communications regulator Ofcom for failing to meet delivery targets in the 2024/25 financial year. The postal service delivered only 77% of First Class mail on time against a target of 93%.
British Finance Minister Rachel Reeves indicated that her upcoming budget on November 26 will include both tax increases and spending cuts as part of efforts to balance the country’s finances.