UK equities traded higher on Friday morning, bucking a broader decline across European markets, as investors reacted to stronger-than-expected retail sales figures ahead of the Bank of England’s upcoming interest rate decision.
By 0823 GMT, the FTSE 100 was up 0.3%, while sterling edged slightly lower, with GBP/USD down 0.04% at 1.3488. In contrast, continental markets remained under pressure, with Germany’s DAX and France’s CAC 40 both slipping 0.1%.
UK roundup
UK retail sales rose 0.4% month on month in December, rebounding from a decline in November, according to figures released Friday by the Office for National Statistics. The increase comfortably exceeded economists’ expectations for flat growth. On an annual basis, sales climbed 2.5%, accelerating from a revised 1.8% rise in November and well ahead of the 1.0% forecast.
In company news, C&C Group plc (LSE:CCR) revised down its profit expectations for the 2026 financial year, now guiding for adjusted operating profit of between €70 million and €73 million. The drinks producer pointed to subdued consumer confidence following the UK’s November Budget, which weighed on customer activity in November and early December.
Elsewhere, Babcock International Group (LSE:BAB) said on Thursday that strong organic revenue growth continued through the third quarter, leaving the defence contractor on track to achieve its full-year operating margin target of 8%. The group also confirmed that chief executive David Lockwood will retire, with a successor already chosen from within its Nuclear division.
Asset manager Record plc (LSE:REC) reported that assets under management increased to $115.9 billion at the end of December, up from $110.3 billion at the end of September. The company said the rise was driven by positive net inflows and growth in underlying assets, partly offset by foreign exchange movements.
In executive updates, Pets at Home Group Plc (LSE:PETS) confirmed that Sarah Pollard will join the group as chief financial officer designate on March 23, 2026. She will succeed Mike Iddon, who is set to step down from the board on March 27, 2026, when Pollard will formally assume the roles of CFO and executive director.
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