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Investing.com -- British stocks rose on Wednesday, with the pound strengthening against the dollar, as earnings from U.K. companies including Persimmon and Evoke took center stage.
The blue-chip index FTSE 100 gained 0.2% and the British pound rose 0.5% against the dollar to over 1.35.
The DAX index in Germany and the CAC 40 in France both increased by 0.7%.
Persimmon tops margin estimates
U.K. homebuilder Persimmon (LON:PSN) reported a first-half 2025 underlying operating margin of 13.1%, exceeding Jefferies’ estimate of 12.3%.
The company delivered 4,605 homes, in line with its guidance for a second-half weighted year, while maintaining £123 million in cash. Its return on capital employed reached 11.2%, which Jefferies described as sector-leading.
Persimmon maintained its full-year 2025 guidance for completions between 11,000 and 11,500 homes, compared to Jefferies’ forecast of 11,553. The company also projected an underlying operating margin of 14.2% to 14.5% for the full year.
Evoke reaffirms FY25 outlook
In other corporate news, Evoke (LON:EVOK) reaffirmed its fiscal 2025 revenue growth forecast of 5% to 9% and projected EBITDA margins of at least 20%.
At the lower end of guidance, this equates to approximately £368 million, about 3% above market expectations of £356 million. The company’s last-12-month EBITDA stood at £363 million.
Evoke’s second-quarter revenue increased by 5%, driven by a 6% rise in online sales, or 7% at constant currency, along with a return to growth in retail.
Beazley shares drop as insurer cuts FY premium growth forecast
Meanwhile, shares of Beazley PLC (LON:BEZG) plunged more than 12% after the U.K. insurer reduced its full-year premium growth forecast, citing softer demand in its cyber and property risk insurance segments.
The company now expects gross written premiums to rise in the low-to-mid single digits, down from its previous guidance for mid-single-digit growth.
Beazley’s profit before tax for the first half of the year declined to $502.5 million from $728.9 million in the same period a year earlier.