British shares progress as earnings are at the center; tariff developments in focus

(For a Reuters Live blog on US, UK and European stock markets, click or live/ in a news window) * FTSE 100 UP 0.25%, FTSE 250 Progress 0.8% * HSBC shares rise on profit and repurchase * Astrazeneca is facing potential $ 8 million fine in China 29 April (Reuters). The proposed releases of the US administration on car rates. From 1027 GMT, the Blue-chip FTSE 100 index was 0.25%higher, on track to mark its twelfth consecutive wish session. The banking index rose 2%, with HSBC by 2.5%, after the largest money lender in Europe reported the first quarter profits over estimates and announced a $ 3 billion repurchase program. Meanwhile, Astrazeneca weighed heavily on the Blue Chip index and fell by 2.7%, after the drug maker said it may have a fine of up to $ 8 million in China over suspected unpaid tax and quarterly revenue expectations. The healthcare index dumped 1.5%. The energy index fell by 2%, while the oil-sized BP fell by 4% after reporting a deeper-than-expected drop in the net profit. Separately, the Trump administration plans to mitigate the impact of new car rates by alleviating a few duties on foreign parts used in US manufactured vehicles and keeping rates on cars made abroad, officials said. While markets have recently stabilized for the hope of an US China trading transaction, the ongoing uncertainty over negotiations still keeps investors about. Back at home, the British grocery inflation rose to 3.8% in April, showing the operating data on Tuesday, which contributes the pressure on consumers who are already facing higher tax accounts in energy, water and advice. The domestic focused mid-cap index advanced 0.8% and was on its way to the fifth straight session of profits. Travis Perkins was the top performer among the Midcaps, which rose 7.8%, as the building material supplier reported 3.7% in the first quarter such as-for-like turnover growth at its toolstation division. Among other things, the associated British food of Primark owner tumbled 8.4% after reporting a 10% drop in the first half of the first half. The stock was the worst artist on the FTSE 100 (reporting by Ragini Mathur in Bengaluru; editing by Vijay Kishore) first published: 29 Apr 2025, 04:23 IST