(Sharecast News) - London stocks had pushed higher by midday on Tuesday, helped along by well-received results from the likes of Smith & Nephew, Fresnillo and Diageo.
The FTSE 100 was up 0.4% at 9,162.47.
Russ Mould, investment director at AJ Bell, said: "The FTSE 100 has its recent record highs in its sights again as global markets shake off the latest tariff turmoil.
"Strong corporate results are helping as they show businesses can still thrive despite the turbulent backdrop."
On the macro front, a survey showed that growth in the UK service sector slowed in July amid a renewed fall in total new work.
The S&P Global services PMI business activity index fell to 51.8 from 52.8 in June, but remained above the 50.0 mark that separates contraction from expansion.
The survey showed that total new work declined in July, with the rate of contraction the fastest since November 2022.
It also showed that private sector employment fell again, with the rate of job losses the fastest since February.
Tim Moore, economics director at S&P Global Market Intelligence, said: "Risk aversion and low confidence among clients were the main reasons provided for sluggish sales pipelines, alongside an unfavourable global economic backdrop.
"Hiring trends were especially subdued, with total workforce numbers decreasing to the greatest extent since February. Worries about rising payroll costs were cited as the main factor holding back recruitment.
"Suppliers again sought to pass on rising employment costs, although the latest increase in input prices across the service economy was the slowest since December 2024.
"Despite headwinds from strong cost pressures and lacklustre domestic economic conditions, service providers remain upbeat overall regarding the year ahead business outlook. Optimism improved since June, helped by receding concerns about US tariffs and hopes of a boost to business and consumer spending from interest rate cuts in the second half of 2025."
In equity markets, Smith & Nephew rocketed to the top of the FTSE 100 as the medical technology company hailed a strong first half, backed its full-year guidance and announced a $500m share buyback.
Fresnillo shot higher as the precious metals miner said first-half EBITDA jumped 102% to $1.1bn, driven by favourable metals prices and a "consistent" operational performance.
Oil giant BP gushed higher as it posted better-than-expected second-quarter earnings and raised its dividend as it announced a review of its assets amid calls from investors to boost returns.
Underlying replacement cost profit - its preferred measure of net income - came in at $2.35bn for the three months to 30 June, down from $2.76bn last year but beating the consensus $1.81bn forecast by analysts.
Drinks company Diageo fizzed higher even as it reported a 27.8% drop in full-year operating profit to $4.34bn.
Richard Hunter, head of markets at Interactive Investor, said: "There was some slightly better news in terms of net sales, where a fall of just 0,1% was reported to $20.25 billion, in line with expectations. Organic net sales growth of 1.7% comprised a gain of 0.9% for volumes and 0.8% by price, demonstrating that the group retains the ability to raise prices as a potential lever."
Travis Perkins rose despite posting a decline in first-half adjusted operating profit as revenue dipped, dented by a weaker performance in the Merchanting segment.
Keller and Rotork also advanced after results.
On the downside, Domino's Pizza tumbled as it cut its guidance for full-year core profit, pointing to a tougher operating environment and weaker consumer confidence.
Market Movers
FTSE 100 (UKX) 9,162.47 0.37%
FTSE 250 (MCX) 21,977.15 0.54%
techMARK (TASX) 5,306.51 1.10%
FTSE 100 - Risers
Smith & Nephew (SN.) 1,317.00p 14.12%
Fresnillo (FRES) 1,509.00p 5.23%
Melrose Industries (MRO) 570.40p 4.05%
BP (BP.) 417.15p 2.73%
Diageo (DGE) 1,863.50p 2.67%
Flutter Entertainment (DI) (FLTR) 23,000.00p 1.68%
Airtel Africa (AAF) 212.60p 1.53%
Informa (INF) 883.00p 1.47%
London Stock Exchange Group (LSEG) 9,768.00p 1.37%
Entain (ENT) 1,017.00p 1.29%
FTSE 100 - Fallers
Centrica (CNA) 163.75p -1.36%
Tesco (TSCO) 420.20p -1.20%
Sainsbury (J) (SBRY) 295.40p -1.07%
Haleon (HLN) 352.00p -1.07%
Lloyds Banking Group (LLOY) 81.84p -0.87%
3i Group (III) 4,078.00p -0.85%
NATWEST GROUP (NWG) 524.20p -0.68%
Games Workshop Group (GAW) 16,240.00p -0.61%
Prudential (PRU) 945.00p -0.57%
Auto Trader Group (AUTO) 829.00p -0.53%
FTSE 250 - Risers
Travis Perkins (TPK) 576.50p 7.76%
Oxford Nanopore Technologies (ONT) 211.40p 6.55%
Keller Group (KLR) 1,394.00p 5.77%
Harbour Energy (HBR) 200.60p 3.94%
Rotork (ROR) 328.20p 3.60%
Future (FUTR) 745.50p 3.11%
Mitie Group (MTO) 146.60p 2.95%
Wizz Air Holdings (WIZZ) 1,331.00p 2.78%
Marshalls (MSLH) 207.00p 2.48%
Close Brothers Group (CBG) 503.50p 2.46%
FTSE 250 - Fallers
Domino's Pizza Group (DOM) 211.00p -14.23%
Raspberry PI Holdings (RPI) 411.70p -2.12%
Dr. Martens (DOCS) 76.10p -2.06%
Foresight Solar Fund Limited (FSFL) 87.00p -1.69%
Aston Martin Lagonda Global Holdings (AML) 70.45p -1.61%
Wetherspoon (J.D.) (JDW) 733.50p -1.34%
Ocado Group (OCDO) 344.70p -1.26%
Jupiter Fund Management (JUP) 124.60p -1.11%
Ocean Wilsons Holdings Ltd. (OCN) 1,135.00p -0.87%
JTC (JTC) 941.00p -0.84%
14.43 (0.16%)
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