London equities slipped on Thursday, with the pound easing against the dollar as investors digested a wave of corporate earnings and broader weakness across European markets.
By 11:25 GMT, the FTSE 100 was down 0.5%, while GBP/USD lost 0.1% to trade just above 1.34. On the continent, Germany’s DAX slid 1.1% and France’s CAC 40 declined 0.7%.
Earnings Highlights
- Halma PLC (LSE:HLMA) lifted its full-year revenue growth outlook after posting “strong progress” in the first half of fiscal 2026. Strong demand in its photonics business drove the upgrade, with the company now projecting low double-digit organic constant-currency revenue growth versus earlier guidance for high single digits.
- Cohort (LSE:CHRT) reaffirmed its fiscal 2026 sales and earnings guidance at its AGM. The defense technology group continues to target £291 million in revenue, up 7.7% year-on-year, and adjusted EBIT of £35 million, up 28%. However, management cautioned that first-half EBIT will likely come in softer. Shares slipped 3.5% in morning trading.
- IG Group Holdings PLC (LSE:IGG) reported a 7% year-on-year drop in first-quarter revenue to £259.9 million. Net trading revenue declined 4% to £231.9 million, while net interest income plunged 24% to £28 million. Despite weaker activity, the platform noted strong customer acquisition.
- Babcock International Group PLC (LSE:BAB) described trading in the first five months of fiscal 2026 as “encouraging.” Solid growth in its Nuclear and Aviation arms helped offset a slower Land segment. The company flagged organic revenue growth and ongoing improvements in operating margins, following a 7% margin reported in the first half of fiscal 2025.
- DFS Furniture PLC (LSE:DFS) announced profit before tax and brand amortization jumped to £30.2 million from £10.5 million a year ago, topping analyst forecasts of £27.9 million. Revenue advanced 4.4% to £1.03 billion, while like-for-like order intake rose 10.2%. Gross margin widened 70 basis points to 56.5%.
Corporate Moves
- Petershill Partners PLC (LSE:PHLL) said it will delist from the London Stock Exchange, with the board citing concerns over valuation. Shares soared more than 33% after the firm pledged to return $921 million to investors as part of its strategic review.
- JD Sports Fashion PLC (LSE:JD.) launched a share repurchase program worth up to £100 million, running until January 31, 2026.
- The UK Civil Aviation Authority (CAA) signaled that Heathrow Airport Ltd may recover planning costs incurred in 2025 and early 2026. The regulator added that other project promoters could also qualify if their proposals are sufficiently advanced.
- The CAA also unveiled a consultation on reforms to the UK’s airspace change process, part of the country’s modernization initiative. The consultation, open until December 18, 2025, aims to streamline decision-making while maintaining transparency.
Policy Outlook
Bank of England policymaker Megan Greene warned Wednesday that inflation risks in the UK have tilted higher, calling for restraint on further rate cuts.
“I believe an appropriate response to the uncertainty and risks we are currently facing should involve a cautious approach to rate cuts going forward,” Greene said. She added that “the risks to our inflation outlook have shifted to the upside,” citing lingering cost pressures from the pandemic and the energy price shocks triggered by Russia’s invasion of Ukraine.
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