On Tuesday, the FTSE 100 remained unchanged following a minor decline of 0.13% the day before. B&M experienced significant losses, dropping over 13%, as its new CEO, Tjeerd Jegen, acknowledged that "weak operational execution" negatively impacted the company's first-half results and full-year earnings projections. In response, the retailer aims to refine its product offerings, enhance shelf availability, and reinvigorate in-store engagement to return to sustainable growth.
Conversely, Imperial Brands saw a 2.7% increase after reiterating its full-year forecast and unveiling plans for a £1.45 billion share buyback for the upcoming year. The tobacco company reported robust performances in the US, Germany, and Australia, which counterbalanced weaker results in Spain and the UK, while price hikes helped offset declining sales volumes.
Shell's shares also advanced by 1.3%, driven by expectations of a "significantly higher" gas trading performance in the third quarter, despite the chemicals division forecasting a loss. Additionally, on the economic data front, Halifax reported a 0.3% decrease in UK house prices in September, marking the first decline since May, although the market remains generally stable.
