The FTSE 100 made another measured gain on Wednesday and was set to close at a fresh record high as investors shook off a weak session for US stocks overnight and focused on more positive domestic stories.

After closing at a fresh record high of 9,142 yesterday, London’s leading index was trading at 9,160 at the time of writing.

While investors may be cautiously optimistic that interest rate traders are increasingly pricing more cuts by the Federal Reserve this year in the wake of poor US economic data, the real driver of gains in London on Wednesday was strong corporate updates.

Hiscox soared 8% to the top of the FTSE 100 leaderboard after reporting increased premiums, and investors looked past the impact of US wildfires.

Fresnillo was back among the gainers with a 5% rise as analysts upped their price targets on the stock following very impressive results released yesterday. Berenberg now has a price target of 1,700p.

Diageo was also riding a wave of optimism after releasing results yesterday. Shares gained another 2.7%.

Glencore was among the losers on Wednesday after the mining giant reported falling profits due to weakness in their coal business. The group also said it planned to stick to its primary listing in London. Shares were 4% lower at the time of writing.

“News Glencore is shelving plans for a New York listing may be good news for the London market,” explained AJ Bell head of financial analysis Danni Hewson.

“However, rather than being a ringing endorsement of the merits of a UK listing, it may instead reflect the fact the company is not exactly in the best place to appeal to a new investor base elsewhere.

“The company’s first-half results saw deepening losses. In part this was due to lower commodity prices, something outside Glencore’s control, but production was also lower, hinting at operational issues. 

“Unlike several of its peers Glencore has stuck with thermal coal and weakness in this market is not making that decision look too smart just at the moment.”

Legal & General shares fell over 2% on steady-as-you-go half-year results that failed to inspire investors. There’s nothing for investors to be majorly concerned about; operating profit rose 6% and the dividend increased 2%. Income investors may be looking for further weakness to lock in L&G’s ever-attractive yield.

Coca-Cola Europacific Partners and Coca-Cola HBC were the top fallers after Coca-Cola Europacific Partners slashed its revenue growth outlook.

Tekcapital’s portfolio company Guident has announced a significant expansion of its autonomous vehicle safety technology patents, with new approvals granted in South Korea and the United States.

According to a Tekcapital announcement released on Wednesday, Guident has received Notices of Allowance for patent applications covering artificial intelligence-powered remote monitoring and control software for autonomous vehicles in South Korea.

The global expansion of the patent portfolio comes as Guident prepares for a NASDAQ listing.

The newly approved patents protect Guident’s innovative remote monitor and control centre (RMCC) system, which utilises distributed sensor fusion and artificial intelligence to enhance autonomous vehicle safety.

The technology is designed to monitor multiple self-driving vehicles simultaneously, collecting sensor data not only from vehicles under its direct control but also from independently operated autonomous vehicles in the vicinity.

When the system detects that a vehicle is operating at an unsafe risk level, it can take immediate control of the vehicle, implement necessary safety measures, and return control once safe operation is restored.

Global Patent Protection

These latest approvals significantly strengthen Guident’s international intellectual property portfolio in autonomous vehicle safety technology. The company now holds granted or validated patents across multiple jurisdictions worldwide, including the United States, Japan, South Korea, Hong Kong, and Canada.

The European coverage is particularly comprehensive, with patent protection secured in 20 European Union countries. These include major markets such as Germany, France, and Italy, alongside Austria, Belgium, Bulgaria, Denmark, Estonia, Finland, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Romania, Slovenia, and Sweden.

Growing Autonomous Vehicle Market

The timing of these patent approvals coincides with the rapid expansion of the global autonomous vehicle market.

As self-driving technology becomes increasingly prevalent, safety systems like Guident’s remote monitoring capabilities are expected to play a crucial role in public acceptance and regulatory approval of autonomous vehicles.

Each jurisdiction is developing its own framework for AV safety, with many incorporating remote control and monitoring system requirements.

Glencore shares stumbled on Wednesday after the mining giant reported a 14% drop in EBITDA in the first half of 2025 as weaker coal prices weighed on profitability.

The group’s industrial activities segment, which includes mining, smelting and refining, saw adjusted EBITDA fall to $3.7bn in H1 2025 from $4.5bn in the same period a year ago. Adjusted EBIT sank 37% to $1.8bn.

The coal business was a real drag on performance in the first half with impairments of coal assets leading to Glencore recording an overall $655m loss for the period.

Although coal was the main driver in falling profits, there was also weakness in the copper business, with lower production and grades hitting profits.

“The headlines of Glencore’s half year report do not read particularly well,” said Adam Vettese, market analyst for eToro.

“Earnings were clearly pressured, with a 14% drop in adjusted EBITDA and a net loss of $655 million, driven by weaker coal and copper prices and significant impairments, most notably at Cerrejón. Margins are down and copper output underwhelmed, with risks from volatile markets and operational delays still front and centre.”

Vettese continued to explain that while the first half period was one to forget for Glencore, there were some positive takeaways that could help boost future performance.

“Despite these headwinds, there is some silver lining. Revenue held flat year on year, highlighting the strength of its trading arm and the resilience of its diversified portfolio. The sale of Viterra and the resulting Bunge stake not only bolstered Glencore’s balance sheet, reflected in a healthy boost in liquidity but also added optionality going forward,” Vettese said.

“Importantly, management is focusing on self-help, a $1 billion cost saving program is underway all the while shareholder returns remain generous, with $3.2 billion committed for the year.”

Ibstock shares jumped on Wednesday as investors welcomed rising first-half sales and looked forward to a future recovery in brick demand.

Ibstock, one of Britain’s leading building products manufacturers, has reported a 9% increase in revenue to £193 million for the six months ended 30 June 2025, driven by strong volume growth as the construction market continues its recovery.

However, the company’s profitability came under pressure during the period, with adjusted EBITDA falling 6% to £36 million as margins were squeezed by higher costs associated with reactivating network capacity to meet recovering demand.

Nonetheless, Ibstock shares were over 5% higher in early trade on Wednesday as investors looked forward to further recovery.

Ibstock expects further volume growth in the second half of the year and believes it is well-positioned to capitalise on the market recovery, supported by recent investments in network capacity and strategic investments in its Atlas and Nostell plants.

The company said it was maintaining a “clear focus on margin management and execution” as it seeks to rebuild profitability whilst meeting growing demand in the recovering construction market.

 Ibstock maintained previously issued EBITDA guidance of £77 million to £82 million.

“Ibstock continues to build momentum as its sales volumes ramped up as expected over the first half, landing materially ahead of the prior year,” said Aarin Chiekrie, equity analyst, Hargreaves Lansdown.

“Further volume growth is pencilled in for the second half as new property construction activity continues to build. These expectations are buoyed by market forecasts of further interest rate cuts through the rest of 2025 and beyond, which should improve mortgage affordability and drive further uplifts in demand for Ibstock’s products.

“To prepare for this potential uplift, Ibstock is starting to bring more capacity online and now has the largest brick-making capacity in the UK. However, due to the high fixed costs associated with firing up the brick-making kilns, margins have come under pressure. Until demand ramps up further, operations won’t be as efficient as investors would like, and profitability will remain hamstrung. In the meantime, cash flows and investor returns will likely remain in the back seat.”

CAP-XX shares soared on Tuesday after announcing it has secured a significant design win with one of the world’s largest semiconductor chip manufacturers.

The company said the deal marks a key milestone as it deepens its penetration into high-growth industrial sectors. Investors cheered the news, and shares surged over 50%.

The partner remains unnamed due to the commercial sensitivity of the partnership.

The project involves integrating CAP-XX’s supercapacitors into high-temperature electric chambers used in semiconductor fabrication. These demanding environments require power solutions that can withstand extreme heat whilst maintaining reliability—conditions where traditional batteries often fail due to temperature sensitivity and shortened lifespans.

“This is an exciting validation of our technology by a global industry leader,” Lars Stegmann, CEO of CAP-XX, commented.

“Our ability to deliver high-performance energy solutions in challenging conditions continues to set us apart. We look forward to expanding this relationship and driving further adoption of CAP-XX supercapacitors in high-value industrial applications.”

Today’s gains mean CAP-XX shares are 190% higher in 2025, so far.