UK equities moved higher on Thursday, tracking gains across European markets after U.S. President Donald Trump softened his stance on tariffs linked to Greenland. The shift weighed on defence stocks, while carmakers were among the strongest performers.
By 12:27 GMT, the FTSE 100 was up 0.3%. Sterling was little changed, with GBP/USD holding at 1.347. On the continent, Germany’s DAX and France’s CAC 40 were both higher by more than 1%.
UK and Europe market overview
European defence shares slipped after Trump said he would not move ahead with fresh tariffs on European countries, pointing to progress toward “the framework of a future deal” related to Greenland.
Shares in Germany’s Rheinmetall AG (TG:RHM), Italy’s Leonardo SpA (BIT:LDO), France’s Thales (EU:HO) and Sweden’s SAAB AB (BIT:1SAAB) were among the decliners.
Trump said the decision followed talks with NATO secretary-general Mark Rutte, which he described as “very productive.” He added that discussions would continue and could lead to an outcome that, “if consummated,” would be “a great one” for the United States and NATO allies.
In contrast, European auto stocks advanced, with Mercedes-Benz Group AG (TG:MBG), BMW (TG:BMW), Stellantis NV (BIT:STLAM) and Ferrari NV (BIT:RACE) all trading higher.
Stock movers
In the UK, Computacenter PLC (LSE:CCC) shares jumped after the group brought forward its full-year trading update and flagged stronger-than-expected results. The IT services provider said gross invoiced income rose 31% year on year in 2025, or 32% at constant currency, around 14% ahead of market expectations. Adjusted profit before tax is now expected to be no less than £270 million.
Shares in Senior plc (LSE:SNR) surged after the company said full-year 2025 adjusted profit before tax would be “comfortably above previous expectations,” supported by particularly strong performance in its Aerospace division.
By contrast, B&M European Value Retail SA (LSE:BME) fell after reporting weaker third-quarter trading and trimming its full-year profit guidance. UK like-for-like sales declined 0.6% in the third quarter, although trading improved as the period progressed, with December delivering 3% growth.
Harbour Energy PLC (LSE:HBR) shares moved lower after the company guided to reduced output in 2026, despite a strong finish to 2025. Harbour expects production next year of between 435,000 and 455,000 barrels of oil equivalent per day, excluding planned asset disposals and its $3.2 billion acquisition of LLOG.
Meanwhile, AJ Bell PLC (LSE:AJB) reported assets under administration of £109.6 billion at the end of 2025, roughly £2 billion above consensus forecasts. The group added 26,000 new direct-to-consumer customers in the first quarter, more than double the 11,000 expected by analysts.
Finally, Beazley PLC (LSE:BEZ) fell after the insurer unanimously rejected a takeover approach from Zurich Insurance Group AG (BIT:1ZURN). Beazley said the proposal of 1,280 pence per share, valuing the company at about £8.2 billion, materially undervalued the business.
Leave a Reply