Today's stock market movers feature a mixed bag of results and news, with NatWest outperforming expectations, Diageo gaining from tariff relief, and UK water utilities facing downgrades.
NatWest Beats Estimates British bank NatWest reported first-quarter results that exceeded analyst forecasts. The bank signaled higher earnings for the full year, driven by strong customer demand for both borrowing and saving. The positive outlook lifted investor sentiment.
Diageo Shares in Focus After Tariff Removal Diageo, the London-based spirits giant, is under the spotlight after US President Donald Trump announced the removal of certain scotch whiskey tariffs. The concession, made following a visit from King Charles III, is a major trade win for the UK and is expected to boost Diageo's sales.
Water Utilities Downgraded UK water utility stocks fell after a sharp rally on Thursday. Citi downgraded both United Utilities and Severn Trent, citing "limited absolute valuation upside" over a 12-month horizon. The downgrades triggered profit-taking in the sector.