British stocks rose on Thursday, driven by better-than-expected earnings from U.K. companies and positive developments in EU-U.S. trade talks. By 11:29 GMT, the FTSE 100 index climbed about 1% to 9,147.90, while the British pound dipped 0.2% to $1.35.
European Markets and Trade Developments
Germany’s DAX gained 0.6%, whereas France’s CAC 40 slipped 0.1%. Meanwhile, reports indicate the EU and U.S. are nearing a trade agreement to set tariffs on European imports at 15%, with exemptions on aircraft, spirits, and medical devices. The European Commission emphasized its priority to finalize the deal and prevent the scheduled 30% U.S. tariffs in August.
During Indian Prime Minister Narendra Modi’s visit, Britain and India signed a free trade agreement aimed at reducing tariffs on textiles, whisky, and cars, boosting business opportunities. U.K. Prime Minister Keir Starmer highlighted the importance of building deeper global partnerships in this new era.
Corporate Earnings Boost Market
- Reckitt Benckiser (LSE:RKT) shares soared nearly 10% after raising its full-year revenue outlook, fueled by 1.9% like-for-like sales growth, beating forecasts despite weaker demand in North America and Europe.
- Vodafone Group (LSE:VOD) shares rose over 3% following a 3.9% revenue increase to €9.4 billion, supported by the Three U.K. consolidation and growth in Africa.
- ITV PLC (LSE:ITV) climbed more than 8% after reporting stronger-than-expected advertising revenue and solid studio division growth.
- Lloyds Banking Group (LSE:LLOY) shares gained on a 16% beat in second-quarter pre-tax profit, aided by impairment releases and lower remediation costs.
- BT Group (LSE:BT.A) shares increased 5%, with first-quarter operating profit meeting expectations and naming Virgin Media O2’s CFO as finance chief.
- Centrica (LSE:CNA) shares rose after better-than-expected EBIT and a 22% interim dividend increase.
- Relx PLC (LSE:REL) reported 7% revenue growth and 10% earnings per share growth, lifting shares over 1%.
- Howden Joinery (LSE:HWDN) shares surged 9.9% after stronger-than-expected half-year sales growth.
Mixed Results
- Wizz Air (LSE:WIZZ) shares fell following weaker-than-expected first-quarter results and cautious revenue outlook, with €1.43 billion revenue slightly below estimates.
- Discoverie Group (LSE:DSCV) shares declined 2.9% after reporting 3% first-quarter sales growth in line with expectations but maintaining cautious full-year earnings guidance.
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