The FTSE 100 slipped on Tuesday as investors digested a raft of corporate updates from companies including Barclays, AstraZeneca, and BP.
Results from some of the FTSE 100’s largest constituents were mixed, resulting in an index that was 0.3% lower at the time of writing.
Markets were also bracing for a volley of US economic data this week that could set the tone for the Federal Reserve interest rate decision.
“The FTSE 100 slipped on mixed results from some of the big hitters in the index,” said Dan Coatsworth, head of markets at AJ Bell.
Barclays released Q4 and full-year 2025 numbers that neither wowed investors nor gave them a reason to sell.
The bank marginally beat profit expectations and increased guidance for the year ahead. But the strength of the results was more a justification for the recent rally than a catalyst for further upside, and shares were largely flat at the time of writing.
Coatsworth explained that: “Corporate and investment banking interests were strong while the UK retail banking and wealth management operations were lacklustre.
“Barclays has outlined near and medium-term targets which imply stronger returns and big share buybacks. The targets sound impressive, but the market seems nonplussed by the overall package.
“There wasn’t enough to blow the lights out in terms of recent performance, and so much good news is already in the price.”
BP was among the top fallers after the oil major reported lower profits and held off on new share buybacks. The impact of lower oil prices was evident in the numbers, and the decision to write down its clean energy business led to a retreat in Q4 profits.
“BP’s fourth-quarter results showed relative resilience in a weak pricing environment. Net debt is down again after a spike in the third quarter, but on a 12-month view, it’s not budged much,” said Derren Nathan, head of equity research, Hargreaves Lansdown.
“Management is taking some decisive action to fix the balance sheet, scrapping the buyback, doubling down on non-core disposals and upping structural cost-savings targets to $5.5-6.5bn by the end of next year.”
Although there may be future benefits for shareholders, they were clearly pertrubed by the decision to suspend buybacks and shares were down 5% at the time of writing.
AstraZeneca provided investors with plenty of reasons to be optimistic, with a strong pipeline of drugs that could provide a solid base for growth well into the future.
“The numbers this morning continue to show how AstraZeneca seems to have its house in order when it comes to its drug pipeline,” said Chris Beauchamp, Chief Market Analyst at IG.
“The outlook and recent performance more than justifies the recent surge in the share price which has finally seen it break higher after years of sideways trading. As Novo and others show, it’s not easy to maintain investor interest, but Astra’s broad stable of drugs shows it continues to deliver.
Standard Chartered shares fell after an executive widely seen as the successor to the current CEO announced their resignation. Shares were down 5% at the time of writing.
Babcock was the FTSE 100’s top faller, down 6%.