Asahi shares mark weekly slide after cyberattack halts production
Investing.com -- British stocks gained ground on Friday, alongside most of their European counterparts, while the pound strengthened against the U.S. dollar.
The blue-chip index FTSE 100 rose 0.6% and the British GBP/USD gained 0.3% against the dollar to around 1.3480.
The DAX index in Germany fell 0.2%, and the CAC 40 in France rose 0.3%.
PMI data shows UK services growth loses momentum in September
UK services sector experienced a significant slowdown in growth during September. The S&P Global UK Services PMI Business Activity Index fell to 50.8 from August’s 16-month high of 54.2.
While still above the neutral 50.0 threshold, the latest reading marked the weakest expansion in five months and indicated only modest growth in activity. New business increased only slightly during September, decelerating sharply from the previous month.
JD Wetherspoon shares slip on cost warning despite stronger annual results
J D Wetherspoon PLC (LON:JDW) shares fell more than 5% as the pub chain warned that rising labor, energy, and packaging costs are expected to weigh on profits, despite reporting higher revenue and earnings for the year ended July 27.
The company posted revenue of £2.13 billion, representing a 4.5% increase from £2.04 billion in the previous year. This figure aligned with analyst expectations.
Profit before tax, excluding separately disclosed items, rose to £81.4 million from £73.9 million, slightly exceeding consensus forecasts.
Santander UK CEO Mike Regnier to step down by early 2026
In other news, Santander UK announced Friday that Chief Executive Mike Regnier plans to step down by the first quarter of 2026 after what will be four years with the bank.
The process to find Regnier’s successor has already begun, with the bank expecting to conclude the appointment in early 2026.