AirNet Technology raises $180 million in digital assets offering
Investing.com -- British stocks opened lower on Thursday as investors digested corporate updates, including BT Group and EasyJet, while Rio Tinto announced that its CEO will step down later this year.
As of 1135 GMT, the blue-chip FTSE 100 index fell 0.7%, while the British pound slipped 0.07% against the dollar to 1.34.
Meanwhile, DAX index in Germany fell about 1% and the CAC 40 in France dipped over 1%.
Rio Tinto CEO to step down
Rio Tinto PLC (LON:RIO) said that Chief Executive Jakob Stausholm will be leaving his position later this year.
A formal search for his successor is underway, with the Nominations Committee leading the selection process.
BT Group lifts dividend as profit, free cash flow rise
BT Group PLC (LON:BT) posted a 25% rise in annual free cash flow to £1.6 billion, allowing it to raise its dividend despite weaker revenue and handset sales.
Profit before tax climbed 12% to £1.33 billion, helped by fewer finance costs and no goodwill impairments this year.
The final dividend was lifted to 5.76p per share, bringing the total annual payout to 8.16p.
easyJet H1 loss matches estimates
EasyJet PLC (LON:EZJ) shares fell over 3% after it posted a headline pre-tax loss of £394 million for the six months to 31 March 2025, matching market forecasts.
After accounting for the timing of Easter, the airline saw a slight improvement from the previous year.
Overall capacity expanded by 12% annually, with a 6% rise in both seat numbers and average flight length, leading to better aircraft utilisation and crew efficiency.
Honeywell to buy Johnson Matthey’s catalyst unit
Honeywell International Inc (NASDAQ:HON) has agreed to acquire Johnson Matthey PLC’s (LON:JMAT) Catalyst Technologies unit for £1.8 billion ($2.42 billion), with the U.K. firm expecting around £1.6 billion in net proceeds.
Following the sale, Johnson Matthey plans to focus on its Clean Air business and platinum group metals.
Shares of Johnson Matthey surged by almost 30% in London after the announcement.
Separately, the company reported a 9% drop in annual revenue to £11.67 billion for the year ended March 31.
Tate & Lyle lifts profit but revenue slips
Tate & Lyle PLC (LON:TATE) posted a 5% rise in adjusted EBITDA to £446 million for the fiscal year ended March 31, supported by its acquisition of CP Kelco in November.
Despite the earnings growth, revenue slipped 3% on a pro forma basis to £2.124 billion, as falling input costs and pricing changes weighed on performance.
The stock was down around 4% in afternoon trade.
U.K. Economic slump eases slightly in May
The U.K. economy showed signs of a slight recovery in May, according to preliminary data from S&P Global released on Thursday.
The flash composite Purchasing Managers’ Index rose to 49.4 in May from 48.5 in April, indicating that the drag from increased business taxes and uncertainty linked to new U.S. tariffs may be starting to ease.
U.K. April borrowing exceeds forecast
The U.K. government borrowed more than expected at the start of the 2025/26 fiscal year, with data released Thursday showing a higher-than-anticipated deficit in April.
According to the Office for National Statistics (ONS), public sector net borrowing reached £20.16 billion ($27 billion), surpassing the median forecast of £17.9 billion.
Barclays (LON:BARC) lifts U.K. inflation forecast
Barclays revised its inflation outlook for the U.K. on Thursday, citing April’s data as the basis for expecting stronger price pressures across headline, core, and services inflation.
The bank now sees headline consumer inflation peaking at 3.5% in September 2025, slightly above its earlier projection.
For the full year 2025, Barclays raised its average inflation estimate to 3.1% from 3.0%, while maintaining its 2026 forecast at 1.9%.