British stocks opened higher on Wednesday amid reports of a potential U.S.-Iran meeting later this week, while regional data showed inflation held steady in February, in line with expectations.
As of 08:20 GMT, the blue-chip index FTSE 100 rose 1.04% and the British GBP/USD gained about 1% against the dollar to 1.3420. DAX index in Germany rose 1.8%, the CAC 40 in France gained 1.6%.
According to the Wall Street Journal, mediators from Turkey, Egypt and Pakistan are working to arrange talks between U.S. and Iranian officials as early as Thursday.
U.S. President Donald Trump is said to be pursuing a diplomatic solution to the nearly month-long conflict involving joint U.S.-Israeli forces and Iran, with Washington reportedly presenting Tehran a 15-point peace proposal.
Track the latest on UK stocks with InvestingPro UK round up UK consumer price inflation remained unchanged at 3.0% in February 2026, matching economist expectations, as the country braced for an anticipated surge in energy costs stemming from Middle East conflict. The February reading, released Wednesday, showed headline CPI holding steady at 3.0% year-over-year, the same rate recorded in January. Core CPI, which excludes volatile food and energy prices, rose to 3.2% from 3.1%, while services inflation edged down to 4.3% from 4.4%, its slowest pace since March 2022.
In corporate news, Diageo PLC (LON:DGE) subsidiary United Spirits Limited entered into definitive agreements to sell its entire 100% equity stake in Royal Challengers Sports Private Limited to a consortium of buyers for INR 166.6 billion ($1.97 billion), the company announced Wednesday. The acquiring consortium comprises Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone’s perpetual private equity strategy, BXPE.
RS Group PLC (LON:RS1R) announced Wednesday that it expects adjusted profit before tax to marginally exceed market expectations for fiscal year 2026, despite revenue finishing the year weaker than anticipated. The company said revenue is expected to decline by approximately 0.6% on a like-for-like basis for the year ending March 2026. This compares to consensus estimates of 0.9% growth. RS Group pointed to particular weakness in the Americas region, which is expected to contract in the second half of fiscal 2026 due to challenges in Mexico.
TT Electronics Plc (LON:TTG) released its 2025 results Wednesday, showing progress on debt reduction while facing operational challenges across its global operations. The company reduced its debt to £50 million before leases, achieving a leverage ratio of 1.1 times. The improved cash position enabled TT Electronics to extend its revolving credit facility to June 2028 and return to going concern status. For the year ending December 2025, the company reported revenue of £485.0 million, a 6.9% decline from the prior year’s £521.1 million. Adjusted earnings per share came in at 5.9 pence, down 46.3% from 11.0 pence in 2024.
Enquest Plc (LON:ENQ) reported FY25 results that exceeded analyst expectations on EBITDA, with the company posting a net profit after settling the Magnus contingent consideration payment. The company reported a net profit of $2 million, beating Jefferies’ estimate of a $178 million net loss and consensus expectations of a $69 million loss. EnQuest paid $60 million in cash in February to retain all future Magnus cash flow, with the settlement recorded through other income. FY25 EBITDA reached $504 million, 2% above Jefferies’ estimate of $493 million. Production for the year averaged 42,945 barrels of oil equivalent per day, or 45,606 boepd including full-year pro-forma Vietnam production, exceeding estimates by 1% and marking a 5% increase year-over-year.
