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The UK’s major stock indices climbed on Wednesday, buoyed by a global shift towards risk-off sentiment. Gains in banking and mining shares propelled the blue-chip FTSE 100 to its highest level in over a week, closing 0.6% higher. Banks were among the top performers, with Lloyds Banking Group surging 3.2% after at least two brokerages raised their price targets. Metro Bank also advanced 1.3%, following its announcement of an agreement to sell a portfolio of approximately £584 million ($739 million) in unsecured personal loans. Industrial metal miners rose 0.8%, supported by elevated copper prices, though optimism was tempered by concerns over a U.S. investigation into potential new tariffs on copper imports, initiated by President Donald Trump.
 

Single Stock Stories & Broker Updates:

• Shares of ConvaTec Group rose 6.2%, becoming the top gainer in FTSE 100. The company reported a FY adjusted operating profit of $485 million, up 12.4% from 2023, and recommended a final dividend of 4.594 cents, totaling 6.416 cents for the year, a 3% increase y/y. ConvaTec is confident about its 2025 outlook and medium-term guidance. Of 18 analysts, 15 rate the stock "buy" or higher, with a median price target of 302.50 p; the stock fell ~9.4% in 2024.
• Shares of Hikma Pharmaceuticals dropped 12.4%, making it the top loser on the FTSE 100 index. The company forecasted 2025 core operating profit at $730-$770 million, below the $754 million consensus, while 2024 revenue was up 9% YoY to $3,127 million, exceeding the $3,081 million forecast. Analyst Miles Dixon suggested the share reaction was an overreaction, noting confusion over EBIT/EBITA and disappointment over no FY25E guidance upgrade. The company reported a core operating profit of $719 million for 2024, a 2% YoY increase, and has risen about 6% YTD.
• Shares of Aston Martin fell 8.6%, making it a top loser on the FTSE Midcap index. The company expects mid-single-digit percentage wholesale growth in 2025 while cutting 5% of its global workforce and delaying its first electric car launch. It reported a FY adjusted pre-tax loss of £255.5 million, up from £171.8 million a year ago, and faces risks from potential U.S. tariffs and uncertainties in China. Barclays noted its lower-than-expected 2025 volume guidance indicating demand weakness, with the stock down approximately 43.3% over the past 12 months.
• Metro Bank Holdings rises 3.9% as it confirms the sale of a 584 mln-pound unsecured personal loan book, resulting in ~11 mln pounds gains. The company states that this sale will not affect guidance and aligns with its strategy to enhance risk-adjusted capital returns. Peel Hunt notes that this move allows the bank to increase commercial and corporate lending by reducing exposure to legacy loans. Year-to-date, MTRO is down 1.6%.
   

Technical & Trade View

FTSE Bias: Bullish Above Bearish below 8850

• Primary support 8400
• Below 8400 opens 8225
• Primary objective 8500
• Daily VWAP Bullish
• Weekly VWAP Bullish

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