Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. HSBC profits trimmed but still beat expectations
Shares in HSBC LON:HSBA will be in focus this morning after the company published Q1 results ahead of the European open. Profits have been hit and stand some 25% lower than they did for the comparative period in FY24 although still comfortably beat expectations, whilst impairment provisions have also been increased to account for the risk tariffs pose to global growth. The bank also announced another share buy back – this time for up to $3 billion.
2. ABF retail margins improve, but weak sugar prices weigh
Associated British Foods LON:ABF published interim results this morning with the company noting few surprises although the sugar business continues to disappoint. A combination of factors including low prices means that the division is now expected to post an adjusted operating loss of up to £40m. On a brighter note, retail margins advanced to 12.1%, delivering an improved adjusted operating profit for the division, although a sluggish performance in the UK & Ireland market was highlighted.
3. Focus on customer service at Travis Perkins as market becalmed
Building supply merchants Travis Perkins LON:TPK provided a Q1 update this morning with the company offering a useful insight into the wider state of the economy. Prices are stabilising but headline revenues fell 2.1% and management note that the focus right now is on improving the customer experience. The Toolstation division continues to perform well and falling borrowing costs should also favour the business’ outlook – presuming the trajectory here can be maintained.
