FTSE 100 Opens Higher as Pound Dips Below $1.37; Currys Leads Gains

British stocks started Thursday’s trading session on a positive note, with the FTSE 100 rising 0.5% as of 07:32 GMT. Meanwhile, the British pound slipped below the $1.37 mark after holding above that level for two days, trading around $1.36, up 0.3% against the dollar. European markets also saw modest gains, with Germany’s DAX and France’s CAC 40 rising about 0.3%.

Currys Beats Profit Expectations

Currys PLC (LSE:CURY) reported annual adjusted pre-tax profits of £162 million for the year ended May 3, surpassing analyst forecasts of £159 million. This strong result was driven by steady sales growth and effective cost control, which helped mitigate inflation and rising wage pressures. Group revenue increased 3% to £8.71 billion, while free cash flow surged 82% to £149 million. The company also proposed a final dividend of 1.5p per share and outlined plans to boost margins and reduce capital and cash costs in the coming years.

Chesnara to Acquire HSBC’s UK Life Insurance Business

Chesnara (LSE:CSN) announced its agreement to acquire HSBC Bank’s UK life insurance arm for £260 million ($355 million). The acquisition is expected to generate over £800 million in lifetime cash flow, with annual cash generation exceeding £140 million during the first five years. Chesnara plans to fund the purchase through a mix of cash reserves, revolving credit facilities, and a rights issue.

Baltic Classifieds Reports Strong Profit Growth

Baltic Classifieds Group Plc (LSE:BCG) posted a 40% jump in operating profit to €53.5 million for the year ended April 30, supported by growth in core classifieds segments offsetting a downturn in Estonia’s auto market. Revenue rose 15% to €82.8 million, EBITDA increased 17% to €64.4 million (78% margin), and adjusted net income grew 21% to €54.4 million. Profit for the year reached €44.8 million.

Ryanair Cancels Flights Due to French ATC Strike

Ryanair (LSE:0RYA) announced the cancellation of 170 flights due to a nationwide air traffic controller strike in France affecting Thursday and Friday, impacting over 30,000 passengers.