UK equities mixed as investors assess slew of corporate earnings, US-EU trade deal

Mint

7 days ago

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FTSE 100 up 0.4%, FTSE 250 down 0.3%
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AstraZeneca rises after Q2 profit beats expectations
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Greggs falls on lower first-half profit
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Entain rises after BetMGM raises FY outlook
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Inchcape slips on HY profit drop
July 29 (Reuters) - London's main stock indexes were mixed on Tuesday as investors assessed a spate of mixed corporate updates as well as the fallout from the newly signed U.S.-EU trade deal.
The benchmark FTSE 100 rose 0.4% as of 0934 GMT, while the domestically focused midcap FTSE 250 index was down 0.3%.
Healthcare stocks led the sectoral gains, up 1.8%, with AstraZeneca rising 2.8% after the drugmaker beat second-quarter revenue and profit expectations.
Chemical stocks lost 2.5%, dragged down by Croda International, which fell 5.1% after the chemical company reported first-half sales below estimates.
Industrial miners lost 1%, tracking lower copper prices. Glencore and Anglo American fell 2.4% and 1.2% respectively.
Among other corporate updates, Games Workshop surged 6.3%, to top the FTSE 100 index, after the miniature wargames maker reported a nearly 30% jump in annual pre-tax profit.
Entain rose 1.4% after the company's U.S. sports-betting joint venture with MGM Resorts called BetMGM raised its full-year 2025 revenue and core earnings forecast.
Inchcape lost 9.6%, top loser on the FTSE 250 midcap index, after the car distributor reported a 4% drop in first-half adjusted pre-tax profit at constant currency.
Greggs fell 4.9% after reporting a 14% fall in first-half profit.
A survey showed British shop prices rose by the most in more than a year in the 12 months to July and food prices grew more strongly.
The Bank of England is expected to cut borrowing costs on August 7 for the fifth time since August last year.
Meanwhile, investors weighed the impact of a new 15% levy on most European Union goods, which is significantly higher than pre-2025 levels.
Ahead of the August 1 tariff deadline, U.S. President Donald Trump said a blanket 15% to 20% "world tariff" rate would be extended toward trading partners who do not negotiate separate trade deals with the U.S.
Top U.S. and Chinese economic officials resumed their trade talks for a second day in Stockholm to resolve economic disputes, while seeking to extend the previous tariff truce by three months. (Reporting by Sukriti Gupta in Bengaluru; Editing by Shreya Biswas)