FX.co ★ UK Trades at Around Record Levels

The FTSE 100 experienced minimal movement on Tuesday, yet continued to trade near record levels above 9,000, bolstered by favorable corporate news. Compass Group saw an increase of over 4.5% following its announcement to boost revenue growth projections and its €1.5 billion acquisition of the Dutch company Vermaat. Similarly, Centrica rose by more than 4% after confirming it had acquired a 15% stake in the Sizewell C nuclear project, joining other significant investors such as the UK government. Analysts have suggested that this investment could enhance Centrica's earnings and financial robustness. In a positive turn, Greencore improved its profit predictions based on strong sales in its sandwiches, sushi, and ready-meals segments, with expectations of continued growth. Conversely, the UK public finances presented a less favorable picture, with a budget deficit of £20.7 billion in June, marking the highest since April 2021 and surpassing forecasts. This was largely attributed to the increased debt-interest payments on inflation-linked gilts, sparking renewed speculation about potential tax raises later in the year.