British stocks rose on Thursday, driven by corporate earnings, as shares of Currys and Grafton climbed. Meanwhile, the pound slipped slightly but remained near the $1.34 mark.
As of 12:58 GMT, the FTSE 100 was up 0.2%, while GBP/USD dipped 0.04% to 1.34. In Europe, Germany’s DAX added 0.7%, while France’s CAC 40 fell 0.3%.
BoE Survey Highlights Stable Prices, Softer Hiring; Gilt Repo Reforms in Focus
A Bank of England survey released Thursday indicated that U.K. businesses maintained steady price inflation expectations in August, though hiring trends were weaker. The Decision Maker Panel, which collected responses from 2,126 participants between August 8 and 22, showed realized annual own-price growth rose slightly by 0.1 percentage points to 3.7% in the three months to August.
Expectations for year-ahead own-price inflation remained at 3.7%, suggesting companies anticipate stable pricing pressures over the next 12 months.
Separately, the BoE issued a discussion paper exploring reforms to strengthen the U.K. gilt repo market. Developed with the Financial Conduct Authority and input from HM Treasury and the U.K. Debt Management Office, the paper proposes expanding central clearing of gilt repo transactions and setting minimum haircuts for non-centrally cleared trades.
FTSE Movers: Currys Surges, Jet2 Slumps, Grafton Gains
Currys PLC (LSE:CURY) shares soared 21% after the retailer reported a 3% rise in group sales over the first 17 weeks of its financial year, driven by strong demand for air conditioners, fans, and gaming products. The company also launched a £50 million ($68 million) share buyback program, following a previously declared £25 million cash dividend.
Jet2 PLC (LSE:JET2) shares fell more than 13% after the airline and tour operator reported delayed summer bookings and weaker flight-only pricing in its AGM trading update. Analysts have cut earnings forecasts in response to the shift in seasonal demand.
Grafton Group PLC (LSE:GFTU) gained after confirming its full-year 2025 outlook, reporting £1.25 billion in revenue for H1—a 10.1% increase year-on-year—and a 2.4% rise in like-for-like sales. Adjusted EBIT climbed 9.5% to £91 million, slightly above expectations.
International Public Partnerships (LSE:INPP) posted a sharp increase in first-half profit before tax, rising to £142.6 million from £16.7 million a year earlier. Its net asset value grew 1% to £2.74 billion as of June 30, 2025, compared with £2.71 billion at the end of 2024.
Genus PLC (LSE:GNS) reported a 24% rise in adjusted pre-tax profit to £74.3 million after securing U.S. approval for its gene-edited pigs, the first cleared for the food supply chain.
WAG Payment Solutions PLC (LSE:WPS), or Eurowag, confirmed its full-year guidance after posting H1 net revenue of €162 million, up 15% year-on-year and 4% above consensus, though shares slipped 2% in early trading.
Safestore Holdings Plc (LSE:SAFE) saw group revenue for Q3 rise 5.7% year-on-year at constant exchange rates, with like-for-like revenue up 3.4%. In the U.K., revenue climbed 2.8% on a like-for-like basis.
Lloyds Banking Group PLC (LSE:LLOY) plans to place roughly 3,000 employees—about 5% of its 63,000 staff—at risk of dismissal as part of a performance improvement initiative, the Financial Times reported. CEO Charlie Nunn aims to enhance efficiency, cut costs, and diversify income streams.
Shares of BT Group PLC (LSE:BT.A) fell after BofA Securities downgraded the stock from “buy” to “neutral,” citing full valuation following a strong rally this year. BT has climbed about 45% year-to-date, outperforming Dutch rival KPN by roughly 30%, with BofA leaving its price target unchanged at 210p.
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