British stocks registered modest gains on Wednesday as remarks from U.S. President Donald Trump that the confrontation with Iran might be approaching an end helped risk appetite. At the same time, company-specific news in London produced divergent moves across sectors.
Speaking with Sky News, Trump said a lasting ceasefire was possible before the visit of King Charles later this month, describing such an outcome as "very possible" and adding that Iran had been "beaten up pretty bad." He also flagged that he could revisit aspects of a trade arrangement agreed with the United Kingdom, citing differences over domestic policies and Prime Minister Keir Starmer. "We gave them a good trade deal. Better than I had to. Which can always be changed," he said in the interview.
Market snapshots at 11:54 GMT showed the FTSE 100 up 0.2%. The British pound fell 0.1% to 1.3554 against the U.S. dollar. Elsewhere in Europe, Germany's DAX was flat while France's CAC 40 gained 0.1%.
Company news driving moves in London
Aegon Ltd confirmed the sale of its U.K. business to Standard Life for a total consideration of £2.0 billion, bringing to a close the insurer's strategic review of its U.K. operations. The transaction will be satisfied through a 15.3% stake in Standard Life, equal to 181.1 million shares, plus £0.75 billion in cash.
Homebuilder Barratt Redrow PLC maintained its full-year target for total home completions despite the added uncertainty from events in the Middle East, with stockholders responding positively to the reaffirmation. The company kept its expectation of delivering between 17,200 and 17,800 total home completions for fiscal 2026, including roughly 600 joint venture homes, and said it still expects adjusted profit before tax to be in line with market consensus of about £568 million.
Chilean copper producer Antofagasta PLC reported first-quarter production of 143,000 tonnes of copper in the three months to March, an 8% decline from the same quarter a year earlier but ahead of the company-compiled consensus of 138,000 tonnes. The shares rose about 3% on the result.
Ferrexpo PLC said its iron ore pellet output dropped sharply in the first quarter after Russian attacks on Ukraine's energy infrastructure forced a temporary suspension of operations. Total production fell 45% from the prior quarter to 593,000 tonnes, comprised of 525,000 tonnes of premium iron ore pellets and 68,000 tonnes of commercial concentrate. The stock eased 2.6%.
Insurance and travel group Saga returned to profit for the year ending Jan. 31, 2026, posting profit before tax of £2.1 million versus a loss of £160.2 million a year earlier, and its shares climbed more than 8% on the result.
Tatton Asset Management PLC reported annual net inflows of £2.8 billion and said its full-year results would sit toward the upper end of market expectations. Total assets under management and influence rose 11% year-on-year to £24.2 billion for the year ended March 31.
Hunting PLC disclosed first-quarter core earnings of $23.2 million, representing a 10% EBITDA margin and amounting to 15.5% of the midpoint of its unchanged full-year guidance range of $145 million to $155 million. The quarterly report sent Hunting shares down roughly 3%.
Gaming group Rank Group PLC lifted its full-year underlying operating profit guidance to at least £68 million, a figure that exceeded the upper end of a company-compiled analyst consensus range of £65.1 million to £68.2 million for the 2025-26 financial year. Rank's shares rose by more than 8% following the upgrade.
Market context and outlook
The day's price action reflected a combination of geopolitical commentary and discrete corporate updates. Comments from a major political figure suggesting a near-term de-escalation in the Iran situation appeared to temper some risk aversion, while company-specific results and transactions produced mixed responses across financials, mining, construction and services sectors.
Investors will likely remain attentive to further developments on both the geopolitical front and to quarterly operational updates from listed companies, as both continue to influence stock-level volatility and sector performance in London.