FTSE 100 Edges Higher as SSE Shares Climb, Primark Owner ABF Declines

The FTSE 100 is up 0.1% on Tuesday morning, with European markets also nudging higher. The FTSE 250 has risen 0.2%, Germany’s DAX has gained 0.5% and France’s CAC 40 has climbed 0.1%.

UK unemployment came in at 4.9%, below both the previous reading and forecast of 5.2%, providing a modest boost to sentiment.

SSE leads the FTSE 100 risers, up 3.7%, followed by British Land at +2.1% and Compass Group at +1.9%.

British Land accompanied its gains with a trading update, upgrading its full-year 2027 underlying EPS guidance to at least 30.5p and reporting 6% like-for-like net rental growth for FY26, ahead of guidance.

Associated British Foods is the biggest faller, dropping 4.9% after confirming it will proceed with a demerger of Primark from its food business, with shareholders set to hold shares in both separately listed entities upon completion.

Other notable declines have seen M&G fall 1.9%, and Rolls-Royce slip 1.7%.

In the FTSE 250, THG is the top riser at +4.7% after posting its strongest first-quarter revenue growth since 2021, up 7%, with its Beauty and Nutrition divisions both performing well. The company reiterated its full-year guidance. Hays is the biggest FTSE 250 faller, down 3.1%.