Investing.com -- British stocks were mostly flat at Tuesday’s open as the major earnings reporting day saw blue-chip companies, including HSBC, BP (NYSE: BP ) (LON: BP ), AstraZeneca, report their earnings.

As of 0726 GMT, the blue-chip index FTSE 100 was up 0.01% and the British pound fell 0.2% against the dollar to 1.34. Meanwhile, DAX index in Germany gained 0.6 %, the CAC 40 in France climbed 0.1%.

BP shares fall on lower profit, buyback cut

BP shares fell 3.2% after the British energy giant said it would cut cash returns to shareholders amid market uncertainty and weaker oil prices.

The company reported an underlying replacement-cost profit of $1.38 billion, below the $1.53 billion analysts expected.

BP also slashed its quarterly buyback to $750 million, down from $1.75 billion the previous quarter, signaling a more cautious stance in a volatile market.

HSBC profit drops, announces $3 bln buyback

HSBC Holdings (NYSE: HSBC ) (LON: HSBA ) reported a 25% drop in first-quarter profit, primarily due to the lack of one-off gains that had lifted earnings in the same period last year.

Despite the decline, the bank announced a $3 billion share buyback. Shares rose 1.9% in London morning trade.

The London-headquartered lender posted a pre-tax profit of $9.5 billion, down from $12.7 billion a year ago but still ahead of the $7.8 billion average forecast by analysts.

AstraZeneca (LON: AZN ) reports increased Q1 profit, confirms annual guidance

AstraZeneca PLC (ST: AZN ) reported a rise in its first quarter profit, primarily due to the strong sales of its diabetes and cancer drugs.

The British pharmaceutical company’s earnings per share, excluding certain items, were $2.49, which surpassed the $2.26 per share that analysts had estimated, according to a Bloomberg survey.

In addition to its Q1 results, AstraZeneca reaffirmed its financial guidance for the current year.

Entain appoints CEO, Q1 revenue beats forecasts

Entain PLC (LON: ENT ) saw a 5.8% increase in its shares after reporting a solid beginning to FY25, with Q1 Group Net Gaming Revenue (NGR) surpassing forecasts.

The company also announced the appointment of Stella David as its permanent CEO.

Primark owner reports below-expectation profits and revenue

Shares of Associated British Foods PLC (LON: ABF ), the owner of Primark, fell 8.7% after reporting a pretax profit and revenue for the first half that fell short of expectations, due to challenges in its sugar business.

The British conglomerate said that it made a pretax profit of 692 million pounds ($930.2 million) for the 24 weeks that ended on March 1.

This figure is 21% lower at current rates compared with the same period last year, and falls short of analysts’ forecasts of 828 million pounds, according to a Visible Alpha poll.