U.K. equities edged lower on Thursday despite data showing stronger-than-expected economic growth in June, alongside corporate updates from insurers Aviva and Admiral.
At 0902 GMT, the FTSE 100 inched up 0.05%, while the British pound ticked higher by 0.01% against the dollar, reaching 1.35. Across Europe, Germany’s DAX rose 0.2% and France’s CAC 40 gained 0.3%.
U.K. Economy Expands Faster than Expected in June
Following two months of contraction, the U.K. economy grew 0.3% in June, exceeding the 0.1% forecast, according to the Office for National Statistics. However, overall growth in Q2 slowed to 0.3% from 0.7% in the first quarter.
Aviva Shares Rise on Strong H1 Profit
Aviva (LSE:AV.) shares gained 2% at the open after the insurer reported first-half results that exceeded expectations. Operating profit for the six months ending June 30 climbed 22% to £1.07 billion ($1.45 billion), beating the £972 million consensus. Performance was driven by higher premiums and net inflows in its wealth division, with the company reaffirming its full-year guidance.
Admiral Posts Earnings Beat
Shares of Admiral Group (LSE:ADM) rose over 5% following a 69% surge in earnings, supported by a 56% increase in UK motor profits. Group pre-tax profit came in 2.6% above consensus, while the UK motor division surpassed forecasts by 5.9%. Household profit exceeded estimates by 32.6%, and travel and pet insurance losses were smaller than expected (£0.1 million vs. £1 million forecast).
PensionBee Gains on Asset Growth and UK Profitability
PensionBee Group plc (LSE:PBEE) shares rose 1.05% after reporting a 21% year-over-year increase in assets under administration to £6.3 billion, driven by net inflows of £423 million. Revenue grew 23% to £18.9 million, while the number of invested customers increased 14% to 286,000. The company also achieved profitability in its U.K. operations.
Antofagasta H1 Results Exceed Expectations
Antofagasta plc (LSE:ANTO) reported robust first-half 2025 financials, with EBITDA of $2.2 billion roughly in line with consensus but slightly above expectations due to lower operating costs. Underlying EPS reached $0.47, beating RBC forecasts by 24% and consensus by 6%. A first-half dividend of $0.17 per share was declared, 24% higher than RBC’s projection and 5% above consensus, consistent with the company’s 35% payout policy.
Centrica Stock Rises on LNG Terminal Deal
Centrica plc (LSE:CNA) shares climbed 1.5% after announcing the acquisition of the Isle of Grain liquefied natural gas terminal in partnership with Energy Capital Partners. The enterprise value of the deal is £1.5 billion, with Centrica taking a 50% stake and an equity investment of roughly £200 million, supported by approximately £1.1 billion in non-recourse project financing.
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