Interactive Brokers shares jump as it secures spot in S&P 500
Investing.com -- British stocks fell, erasing Wednesday’s opening gains while the pound dropped below $1.35, with Kingfisher and Pets at Home among U.K. companies reporting today.
The blue-chip index FTSE 100 dropped 0.6% and the British pound fell 0.2% against the dollar to 1.3470.
Meanwhile, DAX index in Germany declined 0.7% and the CAC 40 in France slipped 0.5%.
Kingfisher Q1 sales climb 2.2%
Kingfisher PLC (LON:KGF) posted a 2.2% increase in first-quarter group sales at constant currency, reaching £3.3 billion, supported by solid demand in the U.K. and Ireland.
Comparable sales rose 1.8%, while sales adjusted for calendar variations grew by 2.7%.
The company attributed the gains to strong seasonal product sales and continued growth in its online and trade businesses.
Pets at Home FY25 profit hits £133 mln
Pets at Home Group PLC (LON:PETSP) reported a pre-tax profit of £133 million for fiscal 2025, slightly above the £132 million posted last year and consistent with expectations.
Solid growth in its veterinary services helped counterbalance challenges in the retail segment.
Total (EPA:TTEF) revenue for the year remained steady at £1.48 billion, unchanged from fiscal 2024.
C&C Group FY25 results meet expectations despite weather impact
C&C Group (LON:GCC) posted fiscal 2025 results that aligned with market forecasts, aided by stronger brand performance and distribution efficiency, even as poor weather dampened volumes.
Revenue for the 12 months ended February stood at €1.67 billion, nearly matching the €1.66 billion consensus, while adjusted operating profit came in at €77.1 million, in line with guidance and analyst expectations.
Rentokil to sell French workwear unit to H.I.G. Capital
Rentokil Initial PLC (LON:RTO) has reached a deal to divest its French workwear business to H.I.G. Capital, securing gross proceeds of €410 million and anticipating around €370 million in net cash.
Rio Tinto (NYSE:RIO) CEO Stausholm resigned over board rift - report
Rio Tinto PLC’s (LON:RIO) board and CEO Jakob Stausholm mutually decided to part ways last week amid internal disagreements over cost management and strategic direction, according to a Reuters report on Wednesday that cited several informed sources.
The sudden leadership change, announced without a detailed rationale, caught investors off guard, especially since Stausholm had made recent public appearances with no apparent indications of trouble, the report added.
U.K. grocery inflation climbs to highest level since February 2024
Grocery price inflation in the U.K. rose to 4.1% in the four weeks to May 18, marking its highest level since February 2024, according to Kantar.
The uptick, from 3.8% last month, adds pressure on households already facing rising living costs.
The market research firm highlighted growing strain on consumers as everyday expenses climb.
Thames Water fined by Ofwat
Britain’s water regulator Ofwat has fined Thames Water close to £123 million ($165.8 million) following probes into its handling of wastewater and shareholder payments.
The penalty follows investigations into the company’s treatment standards and its dividend practices.
CEO appointments at Stellantis (LON:0QXR), Remy Cointreau
In European company news, two major CEO appointments were announced on Wednesday — at Stellantis and Remy Cointreau .
Stellantis NV (BIT:STLAM) has named Antonio Filosa as its next CEO, with the appointment taking effect on June 23, after receiving full approval from the company’s Board of Directors.
Filosa will take over from Carlos Tavares, who stepped down in December amid declining profits and sales—particularly in the U.S.—which had sparked criticism of his leadership.
Separately, Remy Cointreau (EPA:RCOP) announced that Franck Marilly will step in as the company’s new CEO starting June 25, taking over from Éric Vallat, who will support the handover process.
Marilly brings more than 30 years of expertise in the luxury and beauty sectors, having held prominent roles at companies such as Chanel, Unilever (LON:ULVR), and Shiseido.