UK equities traded modestly higher on Thursday morning, while the pound remained steady against the US dollar, as investors digested a series of corporate updates and fresh economic data. Broader European markets, however, moved lower.
As of 08:50 GMT, the FTSE 100 was up 0.04%, while sterling gained 0.02% against the dollar to trade at 1.34. Elsewhere in Europe, Germany’s DAX slipped 0.1% and France’s CAC 40 declined 0.2%.
UK roundup
The UK economy expanded by 0.3% in November, rebounding from a 0.1% contraction in October, according to figures released by the Office for National Statistics. On an annual basis, economic growth accelerated to 1.4% in November from 1.1% the previous month. Despite the return to growth, uncertainty continues to cloud the broader economic outlook.
In corporate news, Rio Tinto (LSE:RIO) and BHP Group (LSE:BHP) said they had signed a non-binding memorandum of understanding to explore collaboration on mining up to 200 million tonnes of iron ore at their adjacent operations in the Pilbara region of Western Australia. The proposal includes potential development of Rio Tinto’s Wunbye deposit, with BHP supplying ore from Yandi for processing.
Asset manager Schroders (LSE:SDR) said its 2025 annual results are expected to come in ahead of market forecasts. Adjusted operating profit is projected to be at least £745 million, up from £603.1 million in 2024, with adjusted net operating income expected to reach a minimum of £2.58 billion as income rose while costs remained broadly flat.
UK housebuilder Taylor Wimpey (LSE:TW.) cautioned that operating margins are likely to come under pressure in 2026 due to a weaker opening order book and softer pricing on bulk sales. For 2025, the company now expects operating profit of around £420 million, slightly below its earlier £424 million guidance, with margins forecast to narrow to 11% from 12.2% in 2024.
Wealth manager Rathbones Group (LSE:RAT) reported that funds under management and administration increased 2.3% quarter on quarter to £115.6 billion at 31 December 2025. The Wealth Management division remained the main contributor, with funds rising to £106.2 billion from £103.2 billion in the previous quarter.
Hospitality group Mitchells & Butlers (LSE:MAB) posted a strong start to the financial year, reporting like-for-like sales growth of 4.5% for the 15 weeks to 10 January 2026. Trading over the festive period was particularly robust, with like-for-like sales up 7.7% over the core three-week Christmas window, supported by higher volumes.
Meanwhile, Safestore Holdings (LSE:SAFE) delivered solid operational results for the year ended 31 October 2025, with total revenue rising 4.9% to £234.3 million despite inflationary pressures. Like-for-like revenue grew 3.1% across all markets, led by the UK, while Expansion Markets recorded growth of 27%.
Leave a Reply