FTSE 100: Edges higher after ECB rate cut, Dr. Martens jumps over 24%

Investing.com -- British stocks traded higher on Thursday as the European Central Bank announced a 25-basis-point interest rate cut, a widely anticipated move.

The FTSE 100 index rose 0.1%, while the British pound gained 0.2% against the dollar to over 1.35. Germany’s DAX gained 0.2%, and France’s CAC 40 fell 0.2%.

ECB cuts rates as inflation cools, growth stalls

The trim takes the deposit facility rate to 2%, down from a mid-2023 high of 4%. Traders had priced in an almost 99% chance of the cut, which the ECB justified by its updated assessment of the inflation outlook and transmission of monetary policy.

Euro zone inflation fell to a cooler-than-expected 1.9% in May, below the 2% target, though economic growth remained lackluster, expanding just 0.3% in Q1 2025.

The decision comes amidst rising geopolitical tensions and concerns over U.S. tariff policy’s potential impact on European industries like steel and autos.

Dr. Martens eyes profit growth despite revenue dip

Dr. Martens expects profit growth in fiscal year 2025, sending shares over 25% after beating last year’s profit expectations with £34.1 million.

The company, under new CEO Ije Nwokorie, will focus more on shoes and reduce discounting, targeting £54 million to £74 million in adjusted pre-tax profit for FY26. Despite a 10% decline in FY25 revenue to £788 million, inventory levels improved.

Fevertree steady on U.S. gains and share buyback

Fevertree Drinks (LON:FEVR) reaffirmed its fiscal year 2025 guidance, citing in-line first-half performance driven by strong U.S. growth and its Molson Coors (NYSE:TAP) partnership. The company is actively executing a £71 million share buyback, having repurchased £42.5 million to date.

Kingspan bets big on U.S. roofing market

Kingspan plans to boost its U.S. roofing investment to over $1 billion for a potential entry into the residential shingle market, which is reportedly undersupplied. While aiming for a "roofing mega-site," Jefferies analysts note challenges like market consolidation and high entry barriers in the $24 billion North American market.

Empiric shares rise on Unite Group (LON:UTG) takeover bid

Empiric Student Property shares jumped over 5% as its board reviews a non-binding Unite Group acquisition proposal, valuing each share at 107 pence. An engagement phase has begun, with Unite’s firm offer deadline set for July 3.

Wise jumps on plans to shift primary listing to U.S.

Wise PLC (LON:WISEa) (LON:WISEa) said it plans to shift its primary listing to the U.S., while keeping a secondary listing in London.

The move aims to broaden its investor base and boost liquidity, with no change to its U.K. operations. The announcement came as Wise posted a 15% revenue jump to £1.21B and a 17% rise in pre-tax profit to £564.8M for the year ending March 31.

Wizz Air (LON:WIZZ) (LON:WIZZ) dives on weak FY26 outlook, EBITDA miss despite profit beat

Wizz Air shares plunged over 27% on Thursday after issuing weaker-than-expected guidance for fiscal 2026 and missing EBITDA estimates.

Fiscal 2025 revenue fell slightly short of consensus at €5.27 billion, while EBITDA of €1.13 billion also missed projections.

Despite this, net profit beat expectations at €214 million. The airline forecast slower ASK growth for the first half of FY26 and more moderate revenue gains than analysts had anticipated.

Workspace Group (LON:WKP) posts resilient FY results

Workspace Group PLC (LON:WKP) reported results for the financial year ending March 31, 2025, with performance largely meeting expectations despite ongoing market headwinds.

The London-based real estate investment trust (REIT) posted stable results, driven by growth in recurring rental income and an improved dividend proposal.

While underlying rental income edged up 1.7% to £135.5 million, net rental income slipped 3.2% to £122.1 million, mainly reflecting the impact of asset sales. Trading profit after interest saw a modest increase of 1.2% to £66.8 million.

CMC Markets (LON:CMCX) revenue climbs on stockbroking strength

CMC Markets (LON:CMCX) posted a 7% rise in annual net operating income to £332.8 million, driven by strong institutional and stockbroking performance.

Trading revenue increased 4% to £248.4 million, while stockbroking jumped 16% to £82.7 million, now contributing close to 25% of group earnings.

Pre-tax profit rose 5% to £63.6 million, with net profit up 13% at £55.2 million and EPS climbing 12% to 18.8p.