- FTSE 100 up 0.1%, FTSE 250 up 0.2%
- Diageo delivers on annual forecasts, shares jump
- Smith+Nephew surges on profit jump, share buyback plan
- Domino's Pizza slumps on annual profit forecast cut
- UK services sector sees biggest drop in new orders since Nov 2022
Aug 5 (Reuters) - British equities closed modestly higher on Tuesday, led by a slew of upbeat corporate results, while investors assessed weaker-than-expected U.S. economic data ahead of a Bank of England rate decision later this week.
The blue-chip FTSE 100 shed some earlier gains after data showed U.S. services sector activity unexpectedly flatlined in July, highlighting uncertainty over the impact of U.S. President Donald Trump's tariff policy on businesses. The benchmark index ended up 0.1%, while the domestically focused midcap FTSE 250 rose 0.2%.
The medical equipment and services subindex led sectoral gains, up 11.3%, hitting its highest level since November 2021, after Smith+Nephew's in first-half profit and announcement of a new $500 million share buyback.
The British medical products maker gained the most on the FTSE 100, up 15.3%.
BP added 2.8% after the oil giant said it would review assets and costs in order to improve profitability, with second-quarter profit beating expectations.
Fresnillo surged nearly 6% after the miner reported positive first-half results. Precious metal miners rose 2.4% tracking higher gold prices.
Travis Perkins was among the top gainers on the FTSE 250, up 5.6%, after the British building materials supplier said it expects to deliver full-year adjusted operating profit, including property gains, broadly in line with market expectations.
Conversely, Domino's Pizza Group fell 17.6%, hitting its lowest in over 10 years, after it cut its annual core profit forecast.
Reporting by Sanchayaita Roy in Bengaluru; Editing by Vijay Kishore, Alexandra Hudson
Source: Reuters