The FTSE 100 index closed a bit higher on Tuesday, even as most other European markets slipped. The British pound continued to fall and some big UK companies released their quarterly results, including BP and Associated British Foods.<\/p>\n
The main UK stock index, the FTSE 100, rose 0.2%. The pound dropped 0.7% against the US dollar, falling to around 1.30. Meanwhile, Germany\u2019s DAX index fell 0.8% and France\u2019s CAC 40 slipped 0.5%.<\/p>\n
In company news, International Workplace Group (IWG) reported revenue of $1.13 billion for the third quarter, which was 4% higher than last year but still a little below what analysts expected. The company\u2019s managed and franchised workspaces did very well, with a 36% increase in total revenue and a big 83% jump in management fees. However, its company-owned revenue stayed flat at $806 million, missing forecasts. The mixed results pushed IWG\u2019s shares down by 2.6%, even though the company continues to grow its flexible workspace network worldwide.<\/p>\n
BP reported a third-quarter profit of $2.21 billion, which was slightly better than what analysts had expected but a bit lower than the same period last year. The oil giant kept its share buyback at $750 million and said it plans to sell about $5 billion worth of assets this year. BP\u2019s profit before interest and tax stood at $5.33 billion, which was higher than market forecasts.<\/p>\n
Associated British Foods, the company that owns Primark and brands like Twinings and Ovaltine, saw its annual profit fall by 12% to \u00a31.73 billion. The company also said it is reviewing whether to separate its retail and food divisions into two different businesses.<\/p>\n
Domino\u2019s Pizza Group said its sales grew by 2.1% to \u00a3382.7 million in the third quarter. Orders placed in stores rose slightly thanks to a national campaign, but delivery orders fell as customers cut back on spending. Total orders were down 1.5%. The company kept its full-year profit forecast steady at between \u00a3130 and \u00a3140 million, though its shares dropped 1.8% after the announcement.<\/p>\n
Overall, while the UK\u2019s main stock index managed a small gain, the day was marked by mixed corporate results and a weaker pound.<\/p>\n","protected":false},"excerpt":{"rendered":"
The FTSE 100 index closed a bit higher on Tuesday, even as most other European markets slipped. The British pound\u2026<\/p>\n","protected":false},"author":294,"featured_media":95054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[22600],"class_list":["post-95047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-markets","tag-ftse-100"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/95047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/294"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=95047"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/95047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/95054"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=95047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=95047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=95047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}