The FTSE 100 index began Thursday’s trading session virtually unchanged, reflecting investor caution after fresh data revealed a surprising contraction in the UK economy. As of 07:15 GMT, the UK’s blue-chip index edged up just 0.01%, while the pound slipped 0.07% against the U.S. dollar but remained above the $1.35 mark.
Meanwhile, broader European markets saw declines, with Germany’s DAX falling 0.8% and France’s CAC 40 down 0.5%, amid renewed concerns over economic resilience across the continent.
UK GDP Falls Sharply in April
The UK economy shrank by 0.3% in April, according to the latest figures from the Office for National Statistics—more than double the anticipated 0.1% decline. The drop partially reverses the 0.7% expansion seen in the first quarter and was driven by rising energy costs and the impact of recent tax increases. On a year-over-year basis, GDP growth slowed to 0.9%, down from 1.1% the previous month.
Tesco Sees Solid Sales Growth in Q1
Tesco PLC (LSE:TSCO) reported a 5.5% rise in group like-for-like sales for the first quarter of its 2025–26 fiscal year. Strong performance across the UK, Ireland, Booker, and Central Europe helped push total group sales—excluding fuel and VAT—to £16.38 billion for the 13-week period ending May 24.
Halma Outperforms Expectations with Profit Boost
Engineering and technology group Halma PLC (LSE:HLMA) exceeded market expectations for its fiscal year ended March 31, 2025. Adjusted pre-tax profit rose by 16% to £459.4 million, with revenue up 11% to £2.25 billion. The EBIT margin climbed to 21.6%. Halma also reported a strong start to FY2026, forecasting high single-digit organic revenue growth and maintaining margins within its 19–23% target range.
Wood Group Extends Acquisition Talks with Sidara
John Wood Group PLC (LSE:WG.) has granted Sidara an extension until June 30 to either submit a formal acquisition offer or step away from the deal. The deadline extension gives Sidara more time to refine its proposal for acquiring the engineering and consulting firm.
Crest Nicholson Delivers Resilient Interim Performance
Crest Nicholson Holdings PLC (LSE:CRST) shared a stable set of results for the first half of 2025, suggesting its refined strategic focus is beginning to bear fruit despite continued housing market headwinds. The company completed 739 homes during the period—a 6% drop year-on-year—while private sales, including wholesale deals, fell to 107 units from 177 a year ago.
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