05.08.202607:41:23UTC+00FTSE 100 Rises for 2nd Session, NEXT Rallies

The FTSE 100 rose 0.4% on Wednesday, building on the previous session’s gains as optimism over a potential US–Iran agreement bolstered risk appetite. US President Donald Trump said talks with Iran were “moving along very nicely” and suggested further clarity could emerge within 48 hours, while Qatar announced that a proposal concerning the Strait of Hormuz had been drafted. Strong corporate earnings also underpinned the index. Next jumped about 7% after once again raising its full-year profit guidance. Glencore climbed more than 4% after posting an 86% year-on-year increase in adjusted profit and unveiling a special cash distribution of $0.085 per share alongside a $500 million share buyback. Coca-Cola HBC advanced over 3% after reporting better-than-expected first-half sales and upgrading its full-year organic revenue growth forecast. Legal & General ticked higher after delivering results broadly in line with expectations, while HSBC slipped more than 2% following its latest earnings report.