The London benchmark extended Tuesday's gain as Donald Trump signaled progress in Iran talks, while strong updates from Next, Glencore and Coca-Cola HBC outweighed a drop in HSBC.
The FTSE 100 traded 0.4% higher on Wednesday, building on the previous session's advance as hopes for a potential US-Iran agreement improved risk appetite and company earnings added support. US President Donald Trump said talks with Iran were moving along "very nicely" and that more clarity could come within 48 hours, while Qatar said a proposal concerning the Strait of Hormuz had been drafted. Among individual stocks, Next jumped around 7% after again raising its full-year profit guidance. Glencore rose more than 4% after reporting an 86% year-on-year increase in adjusted profit and unveiling an $0.085-per-share special cash distribution alongside a $500 million share buyback (company repurchase of shares). Coca-Cola HBC climbed over 3% after posting better-than-expected first-half sales and lifting its full-year organic revenue growth outlook, while Legal & General edged higher on results broadly in line with expectations. HSBC was the main drag, falling more than 2% after its latest earnings release.