London Stocks Edge Higher, Smith & Nephew Soars 6.33% London Stocks Edge Higher, Smith & Nephew Soars 6.33%

London Stocks Edge Higher, Smith & Nephew Soars 6.33%

Written by Sandra Leggero

Sandra Leggero has a background in financial markets, having spent more than 9 years in commodities trading for several European and Asian companies. She holds a degree in Economics from the University of Pavia and specializes in emerging markets.

, | Updated: April 30, 2025

Key Moments:

Smith & Nephew shares jumped 6.33% after reporting a 1.6% year-on-year rise in Q1 revenue.
Genus surged 23% after the FDA approved its gene-edited, disease-resistant pig for the US food supply.
Glencore fell 4.4% following a 30% drop in copper output for the first quarter of 2025

Markets Open Firm Ahead of GDP Reports

London-listed equities began Wednesday on an upbeat note, buoyed by gains in heavyweight names and as investors looked ahead to upcoming economic data from the US and Eurozone. The FTSE 100 advanced by 0.06%, reaching 8,468.84. The FTSE 250 also rose, climbing 64.42 points to 19,874.14, while the AIM All-Share hit 683.53. Index performance across the Cboe markets reflected a similar tone, rising by 0.2%.

Smith & Nephew Leads Gains

Shares of Smith & Nephew rose 6.33%, outperforming all other FTSE 100 components, after the company recorded first-quarter revenue of $1.41 billion, a 1.6% increase compared to the same period last year. The manufacturer of medical equipment stated the effects of recent challenges in China had peaked and reiterated its 2025 guidance, signaling continued confidence in future growth projections.

Glencore Slips on Copper Output Decline

Glencore PLC (LSE: GLEN) dropped 4.2% after revealing a 30% year-on-year fall in copper production during the first quarter of 2025. Output totaled 167,900 tonnes, far lower than the 239,700 tonnes reported a year earlier. These figures were affected by operational challenges at sites in Chile, Peru, and the Democratic Republic of Congo. Coal production performed well; however, overall 2025 production targets remain largely unchanged. The company noted heightened market volatility following US tariff developments.

Genus Skyrockets on Regulatory Milestone

Animal biotechnology firm Genus PLC (LSE: GNS), listed on the FTSE 250, soared 23% after it gained FDA approval for its gene-edited pig, which is resistant to PRRS (Porcine reproductive and respiratory syndrome). The approval marks a significant breakthrough for the use of gene editing in the US commercial food supply chain.

Results and Movers in the AIM Segment

Kettle safety controls manufacturer Strix Group’s stock surged 10.79% despite a 17% decline in pretax profit to £18.5 million. Revenue edged slightly higher to £144.0 million, and adjusted revenue increased by 1.3% amid macroeconomic headwinds. Adjusted pretax profit reached £18.7 million, exceeding analyst forecasts. The company maintained its full-year expectations and expressed confidence in its outlook. On the downside, Celadon Pharmaceuticals PLC tumbled 33.85% following a disclosure that it had yet to receive funds from a secured credit facility.