12:46 PM EDT, 10/29/2026 (MT Newswires) -- London's FTSE 100 closed 0.29% higher on Thursday as investors digested new economic updates and earnings reports from corporate heavyweights. Net mortgage approvals for UK house purchases, a key indicator of future borrowing, dropped to 53,400 in September 2026 from 54,800 in the previous month, missing the consensus estimate of 54,000. Amid elevated borrowing costs, approvals were the lowest since December 2023, according to Bank of England data. Britain's total vehicle manufacturing jumped 36.3% year over year to 74,031 units in September 2026, as output in the year-ago period was impacted by a cyber incident. Car production climbed 38.6% to 70,831 units, representing the highest volume for the month since 2023, data from the Society of Motor Manufacturers and Traders showed. "September's rebound is welcome, but comparison with last year's disruption masks the pressures on UK manufacturing," SMMT Chief Executive Mike Hawes said. "Pragmatic discussions with trade partners are required but Government can immediately help the industry with an urgent conclusion to the ZEV Mandate review. Mandate targets are running ahead of demand and draining resources required for British factories and jobs." In corporate news, Haleon (HLN.L) fell 15.72% to become the worst performer on the blue-chip index after third-quarter revenue of 2.87 billion pounds sterling missed the FactSet-compiled consensus sales estimate of 2.93 billion pounds. The consumer healthcare company also lowered its 2026 organic revenue growth outlook to 2.5% from the previous guidance range of between 3% and 5%. "Management acknowledges that Haleon's Q3 performance was below its expectations (as it was ours). Weak cold and flu in Q3 is noted, but (unlike Reckitt [RKT.L]) we see no indication of a pick up in Q4. Performance in VMS and pain relief was also underwhelming, in our view," RBC said in another note. Meanwhile, Shell (SHEL.L) rose 1.73% after third-quarter adjusted earnings nearly doubled year over year to $10.81 billion from $5.43 billion. The oil and gas major also launched a $5 billion share repurchase program on the London stock exchange and Euronext Amsterdam. "Shell's underlying earnings and cash flow performance highlight a business that is extremely well suited to take advantage of the current disruptions in the energy complex, across oil, products and gas," RBC Capital Markets said. "Even with a ~$5bn buyback for the coming quarter, we anticipate Shell will likely miss its payout ratio guidance for the year (40-50%), but this simply reflects a macro environment well outside of "normal" conditions."

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