Investing.com -- British stocks rose on Wednesday, buoyed by a busy day of corporate earnings as several major U.K. companies reported results on the final trading day of April.
The blue-chip index FTSE 100 gained 0.1%, while the British pound fell 0.5% against the dollar to 1.3340.
The region’s top performers include Smith & Nephew PLC (LON:SN) and GSK plc (LON:GSK), while bottom performers are Glencore (OTC:GLNCY) PLC (LON:GLEN) and Antofagasta PLC (LON:ANTO).
Meanwhile, DAX index in Germany rose 0.1%, the CAC 40 in France gained 0.5%.
Barclays Q1 profit beats on investment banking boost
Barclays PLC (LON:BARC) reported better-than-expected financial results for the first quarter, powered by a strong performance from its investment banking division.
The bank’s pre-tax profit for the first quarter was £2.7 billion ($3.6 billion), marking an 11% increase compared to the same period last year. This exceeded the analyst expectations of £2.49 billion, as reported by LSEG.
Shares fell 2.3% after the update. They closed the session down 0.4%.
Glencore Q1 output drops
Shares of Glencore PLC (LON:GLEN) fell over 7% after reporting a 30% year-on-year drop in copper production for the first quarter, totaling 167,900 metric tons.
Despite the decline, the company reaffirmed its full-year production outlook for 2025.
It also expects 2025 trading profits to land in the mid-range of its long-term guidance.
GSK beats Q1 estimates on strong cancer drug sales
GSK plc (LON:GSK) shares gain over 3% after posting a rise in first-quarter profit, fueled by robust sales of its cancer treatments, which helped offset weaker vaccine demand in the U.S.
Revenue climbed to £7.52 billion, beating analysts’ expectations of £7.42 billion.
Smith+Nephew maintains 2025 outlook
Smith & Nephew PLC (LON:SN) continues to hold its 2025 financial outlook steady, despite expecting a net impact of $15 million to $20 million due to U.S. tariffs.
Smith+Nephew said it is actively working to minimize the potential impact of these tariffs. Shares rose 5.8% on Wednesday afternoon trade.
Haleon beats Q1 revenue estimates
HALEON PLC (LON:HLN) posted stronger-than-expected Q1 organic revenue, driven by robust demand for its oral health products like Sensodyne.
The strong performance offset weaker U.S. sales of Centrum vitamins, allowing the company to reaffirm its full-year outlook despite economic uncertainty.
Aberdeen assets shrink on weaker markets
Aberdeen Group PLC (LON:ABDN) saw its assets under management shrink by £11.3 billion ($15 billion) in the first quarter, impacted by market volatility and client outflows.
The U.K.-based fund manager reported net withdrawals of £5.2 billion during the three months to March.
U.K. house prices dip slightly in April
Data by mortgage lender Nationwide showed that average U.K. house prices slipped slightly in April 2025, declining by £564 to £270,752.
The drop follows a busy March, when buyers hurried to complete purchases ahead of stamp duty adjustments.
On an annual basis, however, property prices remain 3.4% higher, translating to an average gain of around £8,900.
UBS backs Europe, U.K. over U.S. stocks
UBS confirmed its preference for European and U.K. equities over U.S. stocks, citing attractive valuations, greater policy flexibility, and improved macroeconomic stability.
The firm said on Tuesday that narrowing growth differentials with the U.S. and significantly lower valuations are key reasons to favor Europe.
The U.K. market, particularly the FTSE, stands out as a defensive option offering strong value, with UBS noting its yield is double that of the U.S. UBS also highlighted the U.K.’s strong tariff resilience and potential upside from rate cuts and a stronger pound.