11:48 AM EST, 11/11/2026 (MT Newswires) -- London shares staged a recovery on Wednesday, with the blue-chip FTSE 100 index closing 0.66% higher, as investors continue to assess the prospects for an end to the US-Iran conflict and the latest corporate updates. The day was relatively quiet on the UK economic front, with investors looking ahead to Thursday's releases of gross domestic product, trade and industrial, manufacturing and construction output data. In corporate news, Spirax Group (SPX.L) rose 3.51% at closing after the thermal energy and fluid technology company reaffirmed its expectations for mid-single-digit organic revenue growth in 2026. Organic sales growth in the 10 months ended Oct. 31 was in line with expectations and ahead of the first half, according to the company's trading update. "Growth was supported by shipments from the larger orderbook at the end of June and continuing order momentum. ... Consistent with our guidance, second half margin will be ahead of the first half, underpinning a full year margin broadly in line with 2025," Spirax said. Meanwhile, ICG (ICG.L) was flat after the London-listed private equity investor affirmed mid-term financial guidance, while its attributable profit for the six months ended Sept. 30 fell year over year to 234.3 million pounds sterling from 297.3 million pounds. "Our financial results reflect our growing breadth and scale. In the last twelve months we have generated GBP380m of [fee-related earnings], and over the last five years our FRE per share has compounded at an annualised rate of 28%," Chief Investment Officer and Chief Executive Officer Benoît Durteste said. In other news, Indian customs authorities are holding shipments of bulk Scotch whisky imported by drinks maker Diageo (DGE.L), as investigators seek to apply a 150% import duty rather than the 75% rate agreed under the India-UK trade pact, Reuters reported. The dispute centers on whether bulk Scotch used in whisky production qualifies for the lower tariff. Diageo shares closed the session 1.24% in the red.

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