UK stocks open higher, Kingfisher lifts profit outlook
Britain's FTSE 100 index opened up 0.15% on Tuesday. Kingfisher raised its full-year profit guidance after reporting a 9.9% increase for the first half. Smiths Group reported a better-than-expected full-year operating profit and launched a process to sell its US asbestos liability. M&C Saatchi said trading momentum was improving. SThree raised its full-year pretax profit forecast. BP said its oil refinery in Whiting, Indiana, returned to normal operations after planned maintenance. Britain's government borrowed more than expected in August.
15% on Tuesday. 9% increase for the first half, winning market share in the UK, Poland and Spain. SMITHS GROUP: Smiths Group reported a better-than-expected full-year operating profit and launched a process to sell its US asbestos liability. M&C SAATCHI: M&C Saatchi said that trading momentum was improving, with second-quarter revenue returning to growth.
STHREE: SThree raised its full-year pretax profit forecast on Tuesday, helped by cost cuts and continued growth in the US market. WHITBREAD: Corvex Management urged Whitbread to hold a general meeting to elect the activist investor's partner James Gemmel to the Premier Inn owner's board, claiming that the firm's recent strategic review failed to address underlying challenges. BP: BP said its oil refinery in Whiting, Indiana, returned to normal operations after planned maintenance last week. BURBERRY: Burberry creative director Daniel Lee showed bright floral trench coats and checked short suits in his summer 2027 collection for the British luxury brand.
UK BORROWING: Britain's government borrowed more than expected in August, pushing the deficit for the financial year so far further above official forecasts. AUTOMOTIVE INDUSTRY: Britain's exclusion from the European Union's proposed "Made in Europe" provisions puts the British automotive industry at a competitive disadvantage and threatens its contribution to the EU's economy, a trade group said. DEFENCE: UK Prime Minister Andy Burnham will announce a new AI defence partnership between Britain and the United States. COMMODITIES: Oil prices gained for the first time in five sessions on Tuesday, gold struggled for momentum, and copper prices rose.
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