UK equities opened slightly higher on Thursday after stronger-than-expected GDP data for February, while investors continued to monitor developments סביב potential US-Iran ceasefire talks. Broader European markets were mixed, and the pound held steady against the dollar.
As of 07:05 GMT, the FTSE 100 rose 0.2%, while GBP/USD gained 0.07% to 1.3577. Germany’s DAX slipped 0.04%, and France’s CAC 40 added 0.1%.
UK Round-Up
Fresh data from the Office for National Statistics showed the UK economy expanded in February, beating analyst expectations. Growth came in above the 0.1% forecast by economists, following an upwardly revised 0.1% increase in January. The expansion was supported by broad-based gains, with services output rising 0.5% month on month, industrial production also up 0.5%, and construction output jumping 1.0% despite wet weather conditions.
Tesco PLC (LSE:TSCO) said ongoing uncertainty linked to the Middle East conflict has led it to widen its profit guidance for the 2026/27 financial year. The company expects adjusted operating profit to range between £3.0 billion and £3.3 billion, compared with £3.152 billion reported for 2025/26, slightly ahead of its prior targets.
Ashmore Group Plc (LSE:ASHM) reported a $1.8 billion reduction in assets under management during its fiscal third quarter, with total AUM falling to $50.7 billion as of March 31. The decline reflected an even split between net outflows and weaker investment performance, amid heightened geopolitical volatility.
Rentokil Initial PLC (LSE:RTO) delivered first-quarter organic growth of 3.4%, exceeding analyst expectations of 3.0%. Total revenue reached $1,677 million, up 4.3% year on year, supported by steady growth across pest control and hygiene services, particularly in North America.
Hays Plc (LSE:HAS) reported an 8% year-on-year decline in third-quarter like-for-like net fees, an improvement on the 10% drop recorded in the previous quarter. Performance was broadly in line with March trading trends, with the Rest of World segment contributing to the slight outperformance versus forecasts.
Schroders PLC (LSE:SDR) recorded £1.1 billion in client outflows during the first quarter of 2026, as geopolitical tensions weighed on investor sentiment. Assets under management stood at £814.4 billion at the end of the period, down from £823.7 billion at the close of 2025.
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