EU and US could reach trade deal this weekend - Reuters
Investing.com -- British stocks slipped on Friday, while the pound dropped below $1.35, as data showed U.K. retail sales increased but fell short of expectations.
The blue-chip index FTSE 100 slipped 0.2% and the British pound fell 0.6% against the dollar to 1.3426.
DAX index in Germany dropped 0.3%, the CAC 40 in France rose 0.2%.
Retail sales rise 0.9% in June, missing expectations
U.K. retail sales volumes increased by 0.9% month-on-month in June, falling short of the expected 1.2% gain and recovering less than a third of May’s 2.8% decline.
The Friday data revealed retail sales growth slowed significantly in the second quarter, with volumes rising just 0.2% quarter-on-quarter compared to a 1.3% increase in the first quarter.
Household goods retailers faced particular challenges, with sales dropping 0.1% month-on-month for the second consecutive month as the housing market continued to struggle following stamp duty changes.
NatWest (LON:NWG) reports solid H1 results
In corporate news, NatWest Group rose 3.4% after reporting a profit of £2.68 billion for the first half of 2025, driven by net interest income of £6.12 billion.
Total (EPA:TTEF) income reached £7.99 billion, with £1.87 billion coming from non-interest sources.
Operating expenses were £4.02 billion, including £118 million in litigation and conduct costs.
MAB shares rise as co expects profit at top end of forecasts
Mitchells & Butlers PLC (LON:MAB) shares climbed after the U.K.-based pub operator announced it expects full-year profit to reach the top end of market forecasts, driven by robust third-quarter performance.
The company reported like-for-like sales growth of 5% for the third quarter, an improvement from the 4.7% increase recorded in the second quarter.
Mitchells & Butlers attributed the strong performance to favorable weather conditions and the timing of Easter. Food sales increased by 4.9% while drink sales rose by 4.8% during the period.
Marshalls shares sink on profit warning, weak outlook
Marshalls PLC (LON:MSLH) shares plunged more than 20% after the company reduced its full-year 2025 adjusted profit before tax forecast to between £42-46 million, approximately 21% below consensus estimates of £55.4 million at the mid-point.
The company stated it does not expect market conditions to recover in the second half of the year and is implementing capacity and cost reduction measures.
Jupiter profits decline as revenue slips
Jupiter Fund Management (LON:JUP) shares dropped 2.5% after reporting that second-quarter inflows partially offset earlier outflows, but profits declined compared to the same period last year.
Basic earnings per share for the first half fell to 4.1p from 5.4p a year earlier, while underlying EPS came in at 4.2p, down from 6.6p.
Net revenue declined to £153.9 million from £173.7 million.
Rightmove (OTC:RTMVY) revenue tops estimates; warns of H2 slowdown
Rightmove PLC (LON:RMV) reported better-than-expected first-half results, driven by increased platform activity, but cautioned that growth would likely moderate in the second half after a record performance in 2024.
Revenue for the six months ended June 30 rose to £211.7 million, beating the company-compiled consensus of £209 million.
Shares dropped 1.8% on Friday.
Starmer to urge Trump for swift steel tariff deal
In other developments, British Prime Minister Keir Starmer will lobby U.S. President Donald Trump to accelerate a final deal to cut tariffs on British steel, according to the Financial Times.
EU approves GSK’s Blenrep
The European Union has approved GSK (LON:GSK)’s drug Blenrep to treat relapsed or treatment-resistant forms of a cancer affecting blood plasma cells, the British drugmaker announced Thursday.