Vodafone shares rose 1.2% after the UK’s competition watchdog approved its $19 bln merger with Hutchison’s Three UK, creating the largest mobile operator in the country. The CMA stated that the merger’s network investment plan would enhance long-term competition, reversing its earlier concerns about potential price increases. VOD shares have increased approximately 3% YTD.

Frasers Group’s shares dropped 11.2%, marking their lowest level since November 2022, after the company reduced its full-year profit forecast due to declining consumer confidence linked to the new Labour government’s tax increases. The company revised the adjusted pretax profit outlook for FY25 from £575-625 million to £550-600 million, citing an anticipated £50 million in additional costs for FY26. While H1 adjusted pretax profit fell by 1.5%, Jefferies analysts believe that Frasers remains undervalued and has potential for medium-term growth. Year-to-date, shares have declined by 30.6%.

Shares of Future PLC surged 11.6% to 1,094p, making it the top performer in the FTSE 250 index. This increase follows the company’s announcement of a £55 million share buyback and its commitment to meeting FY 2025 expectations. For the fiscal year, revenue remained flat at £788.2 million, while adjusted operating profit declined to £222.2 million from £256.4 million the previous year. The shares have reached their highest level since August 20 and have appreciated approximately 37% year-to-date.

Shares of the British paper and packaging company DS Smith fell by as much as 1.2% to 571p. The company reported a 39% decline in its H1 adjusted operating profit from continuing operations, totalling 221 million pounds ($281.07 million). DS Smith noted that while the overall demand environment has been positive, the demand for packaging and paper pricing in Q2 did not meet expectations. Additionally, the market trends observed in Q2 have persisted into the beginning of the second half of the year. Year-to-date, shares have risen by 85.8%.

Shares of Taylor Wimpey Plc fell 2.3%, making it one of the top losers on the FTSE 100. JP Morgan downgraded the stock from “overweight” to “neutral” and lowered the target price from 170p to 150p, citing the lack of expected benefits from its landbank until 2026. Among 17 analysts, 11 have rated the stock as “buy” or higher, while 6 recommend a “hold,” with a median target price set at 167.50p. Currently, the stock is down 1.9%, with year-to-date losses around 14%.