UK equities edged lower on Thursday, ending their recent upward streak as the FTSE 100 opened in negative territory, tracking weaker sentiment across European markets. The pound held broadly firm.
By 08:25 GMT, the FTSE 100 was down 0.4%, while sterling ticked up 0.07% against the dollar to 1.3513. On the continent, Germany’s DAX slipped 0.3% and France’s CAC 40 declined 0.4%.
UK market round-up
Rio Tinto (LSE:RIO) reported underlying earnings of $10.87 billion for 2025, flat year on year but ahead of analyst forecasts, despite softer iron ore prices. The mining giant offset pricing pressure through higher copper and aluminium volumes as well as tighter cost control. The figure topped Bloomberg expectations of $10.81 billion. However, net profit attributable to shareholders fell 14% to $9.97 billion, reflecting higher debt levels and one-off acquisition-related items.
Centrica PLC (LSE:CNA), owner of British Gas, posted a statutory loss of £72 million for 2025, compared with a £1.33 billion profit the previous year. The company suspended its share buyback programme as adjusted earnings more than halved due to lower energy prices impacting gas and nuclear returns. Results were weighed down by £508 million in impairments across nuclear and gas assets and a £345 million net loss on derivative energy contracts.
Mondi PLC (LSE:MNDI) recorded a 3% increase in annual revenue to €7.7 billion, supported by stronger volumes and the Schumacher acquisition. However, underlying EBITDA declined 5% to €1,001 million amid margin compression, with the EBITDA margin narrowing to 13.1% from 14.1% a year earlier.
Ab Dynamics (LSE:ABDP) appointed Andrew Lewis as interim Chief Financial Officer with immediate effect, as the company continues its search for a permanent CFO following Sarah Matthews-DeMers’ promotion to CEO. The recruitment process is progressing, though notice periods have necessitated a temporary appointment.
According to a Bloomberg report, Elliott Investment Management is urging London Stock Exchange Group PLC (LSE:LSEG) to review its portfolio and initiate a £5 billion ($6.8 billion) share buyback over the next year. The activist fund is reportedly calling for a reassessment of LSEG’s structure, which spans data services, exchange operations and a 51% stake in Tradeweb Markets Inc.
Safestore Holdings Plc (LSE:SAFE) delivered 6.3% year-on-year revenue growth at constant exchange rates in the first quarter, driven by both like-for-like gains and contributions from new stores. Like-for-like revenue rose 4.2% to £31.66 per square foot, while closing occupancy reached 77.8%, up one percentage point from last year and approaching the 80% threshold often associated with stronger growth momentum.
Debenhams Group (LSE:DEBS) raised £40 million through an oversubscribed equity placing. The online retailer completed the issue at 18 pence per share, a 5% discount to the 19 pence closing price on 17 February. The company placed 200 million new shares and secured subscriptions for a further 22.2 million, resulting in net proceeds of around £38.7 million.
Capita plc (LSE:CPI) announced a £137 million contract renewal within its Pension Solutions division, extending an existing UK client relationship for up to 10 years from Q1 2026. The agreement will see Capita deploy new technology to enhance transaction efficiency, increase capacity and improve customer experience.
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