British equities managed modest gains on Friday, even as most European markets slipped into negative territory. Meanwhile, the pound strengthened slightly against the U.S. dollar.
By 12:09 GMT, the FTSE 100 climbed 0.5%, while GBP/USD rose 0.06% to trade above 1.34. Elsewhere, Germany’s DAX fell 0.2% and France’s CAC 40 dipped 0.08%.
UK Services Sector Shows Slowdown in September
The latest S&P Global UK Services PMI highlighted a slowdown in activity across the sector during September. The Business Activity Index fell to 50.8 from August’s 16-month peak of 54.2.
Although the reading remains above the neutral 50 mark, it represents the slowest pace of growth in five months. New business expanded only marginally, showing a sharp deceleration compared with the previous month.
JD Wetherspoon Shares Drop on Rising Cost Concerns
JD Wetherspoon PLC (LSE:JDW) shares declined more than 3% despite reporting higher annual revenue and earnings. The pub chain warned that rising costs for labor, energy, and packaging are likely to pressure profits in the year ahead.
The company recorded revenue of £2.13 billion, up 4.5% from £2.04 billion the year prior, in line with analyst expectations. Profit before tax, excluding exceptional items, rose to £81.4 million from £73.9 million, slightly above consensus forecasts.
Santander UK CEO Mike Regnier to Depart by Early 2026
In other corporate developments, Santander UK (LSE:BNC) confirmed that CEO Mike Regnier plans to step down by the first quarter of 2026, concluding a four-year tenure at the bank. The search for his replacement is already underway, with the appointment expected to be finalized in early 2026.
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