British shares advanced at the start of trading on Wednesday, with commodity-focused names providing the main push higher and helping the benchmark outpace some European peers that were trading lower.
Precious metal miners were among the top performers as gold prices moved higher, while oil companies and bank stocks also lent support to the market. At 0842 GMT, the FTSE 100 stood at FTSE 100 xx %. The British pound strengthened 0.2% versus the US dollar to 1.3687. By contrast, Germany's DAX slipped 0.4% and France's CAC 40 fell 0.4%.
UK corporate highlights
In a notable development on Wednesday, activist investor Elliott Management is building what the Financial Times described as a "significant" holding in the London Stock Exchange Group, according to people familiar with the matter. The engagement is aimed at improving the exchange operator's performance, the report said. Shares in LSEG rose in morning trade following the news.
Housebuilding group Barratt Redrow plc reported first-half completions that surpassed expectations, delivering 7,305 homes in the period. That figure represents a 7% increase on a pro-forma basis versus the prior year. Analysts had been looking for approximately 6,889 units. Despite the higher volume, reported profits failed to meet consensus forecasts. The company kept its full-year volume guidance intact but signalled caution over margins.
Affordable homebuilder MJ Gleeson PLC posted a 9.6% rise in revenue to 173.1 million for the half year ended December 31, 2025, describing the market backdrop as "subdued." Gleeson sold 848 homes during the period, up 5.9% from 801 in the prior year, and average selling prices increased 2.5% to 198,800. Nonetheless, profit before tax fell 52.8% to 1.7 million compared with the same period a year earlier.
Engineering group Renishaw PLC delivered stronger-than-expected half-year results, with revenue rising 7.1% to 365.6 million. Adjusted profit before tax for the six months ended December 31 increased 11.5% to 64.1 million, beating analyst expectations. The company also registered record quarterly revenue in its second quarter of 194.8 million, which was 14.1% higher than in the first quarter and indicative of building momentum.
Market context and services
Commodity price movements, particularly in gold and oil, played a key role in the UK market's early outperformance. The pound's modest rebound helped underpin investor sentiment after recent currency weakness tied to political uncertainty.
For investors seeking deeper UK market coverage and active movers, premium research services are available that track real-time developments and provide extended analysis on listed stocks.
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