UK equities extended their decline on Tuesday, weighed down by renewed tariff threats from U.S. President Donald Trump linked to Greenland, while weak domestic labor data further dampened sentiment. Official figures showed unemployment remained elevated in November, while wage growth continued to slow, adding pressure to local markets.
The blue-chip FTSE 100 slipped around 0.7%, while sterling strengthened, with the pound rising 0.4% against the dollar to 1.3475. Across Europe, Germany’s DAX fell 1.1%, and France’s CAC 40 declined 0.6%.
FTSE 100 movers and corporate updates
Shares of RAPT Therapeutics surged more than 64% in pre-market trading after GSK announced plans to acquire the biotech firm for $58 per share, valuing it at about $2.2 billion. The all-cash deal gives GSK access to RAPT’s food allergy pipeline, including its anti-IgE antibody ozureprubart, currently in Phase IIb trials targeting multiple food allergens.
Elsewhere, CPP Group shares plunged 26.4% after the company said it is considering cancelling its AIM listing and moving to a private structure. The board cited ongoing challenges for small-cap firms, including persistent undervaluation, thin liquidity, and the rising costs of remaining publicly listed.
Wise shares jumped 16% after the money transfer firm exceeded quarterly revenue expectations and raised its profit margin outlook. The company reported underlying income of £424.4 million for the third quarter of fiscal 2026, up 21% year-on-year and above analyst forecasts.
Defense group Qinetiq reaffirmed its full-year guidance, projecting an operating margin of around 11% and earnings per share growth of 15% to 20%. The company also reported more than £3 billion in orders booked so far this year.
Self-storage operator Big Yellow Group posted third-quarter revenue of £52.3 million, slightly higher than a year earlier, as stronger net rents helped offset lower seasonal occupancy. Like-for-like store revenue rose to £51.9 million.
Informa shares traded higher after the group lifted its 2025 adjusted earnings forecast to around 55.5p per share and announced a £200 million share buyback. The company expects revenue to reach roughly £4 billion in 2025.
Brick manufacturer Ibstock saw its shares fall 4% after a full-year trading update suggested a deeper-than-expected reduction in future earnings, despite results broadly matching prior guidance.
Construction firm Kier Group said first-half trading was in line with expectations, leaving its full-year outlook unchanged, supported by consistent project delivery and improved cash discipline.
Finally, DFS Furniture shares initially jumped 5.5% before closing 1.1% higher after the retailer raised its full-year profit guidance above market expectations. The company now forecasts underlying profit before tax and brand amortization of £43 million to £50 million, ahead of consensus estimates.
