ii view monthly round-up: August 2025

UK company shares largely gained ground during August. The FTSE 100 index rose 0.6%, with the FTSE All Share index up 0.3%.  

Shares in hip and knee replacement maker Smith & Nephew (LSE:SN.) were among the major gainers, rallying 19%. The FTSE 100 company detailed first-half sales and profits that comfortably beat City expectations, driven by ongoing product innovation. 

A continuing management performance improvement plan helped raise cashflows, underpinning an improved dividend payout policy and a new $500 million share buyback programme. S&N continues to expect adjusted sales growth of around 5%, with a trading profit margin of 19% to 20% - potentially up from 2024’s 18.1%.

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Miners Antofagasta (LSE:ANTO) and BHP Group Ltd (LSE:BHP) saw their share prices jump 14% and 8% respectively during August. Copper miner Antofagasta detailed surging profits aided by an 11% increase in copper production and a 3% rise in realised prices.

In contrast, BHP reported falling profits largely due to an oversupply of coal, although with the  mining mammoth underlining its forward push to expand copper and potash production under energy transition and population growth themes. 

JD Sports Fashion (LSE:JD.) outlined better-than-expected sales at its biggest North American market, with the global sports retailer underlining confidence in the medium-term outlook via a new £100 million share buyback programme. That helped its shares rise 12% over the month. 

Bunzl (LSE:BNZL) announced a resumption of its share buyback programme as the global distributer continued to predict a slower rate of decline in the operating profit margin over the second half, given ongoing performance improvement initiatives. Shares in the FTSE 100 company climbed 11% in August. 

Demand for energy transition and transport infrastructure projects helped construction company Balfour Beatty (LSE:BBY) announce further growth in its order book. Growth in the UK however was countered by challenges in the US.  Group-wide adjusted profit from operations, excluding infrastructure investments, rose 7% to £108 million. Balfour shares climbed 9% in August. 

On the downside, recruiter PageGroup (LSE:PAGE) reported falling profits hindered by challenging conditions in its German and French markets. The FTSE 250 company continued to forecast full-year 2025 operating profit of around £22 million versus £52 million in 2024. Page shares fell 11% over the month. 

Supplier of generic and branded drugs Hikma Pharmaceuticals (LSE:HIK) detailed falling first-half sales and adjusted profits, largely hit by a tough comparative. Hikma continues to expect growth in full-year profits, although with the FTSE 100 company flagging its close monitoring of US government trade tariffs. Around 60% of group sales come from the US. Hikma shares fell 9% in August. 

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Across the Atlantic, Apple Inc (NASDAQ:AAPL) shares rose 12% over the month. The tech giant detailed its highest sales growth since late 2021. Sales for the group’s core iPhone product climbed to $44.6 billion during Q3, up from $39.3 billion in Q3 2024. Apple also announced plans to spend around $600 billion over four years incentivising other US companies to make electronic components in the USA – potentially easing any trade tariff threats from Donald Trump. 

Elsewhere, fellow Dow Jones company The Home Depot Inc (NYSE:HD) maintained its full-year forecast for same store sales growth. Shares in the operator of more than 2,300 stores across the US, Canada and Mexico rose 10% during August, likely buoyed by firmer hopes for a US rate cut at the Federal Reserve’s September meeting which potentially aids demand for housing related goods. 

On the downside, Caterpillar Inc (NYSE:CAT) detailed falling profits, hit by US trade tariffs and their impact on raising manufacturing costs.  Caterpillar later warned of a potential hit to annual profits of up to $1.8 billion from US trade tariffs. Shares in the Dow Jones company fell 4% over the month. 

Finally, shares in AI play NVIDIA Corp (NASDAQ:NVDA) retreated 2% last month. Quarterly results for the chip maker offered no future sales forecast for major market China, despite hopes for a lifting of export restrictions by the US government. Nvidia forfeited an estimated $8 billion in China sales during the quarter to late July.