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Investing.com -- U.K. equity index fell on Thursday, as the holiday-shortened week nears its end, with European Central Bank’s latest policy decision in focus.
The central bank is expected to cut interest rates again amid economic uncertainties over the tariffs imposed by U.S. President Donald Trump. The deposit rate is expected to be lowered to 2.25% from 2.5%.
As of 1045 GMT, the blue-chip index FTSE 100 fell by 0.7% and the midcap index FTSE Mid-Cap 250 was down by 0.4%. The British pound also fell by 0.07% against the dollar to 1.32.
The region’s top performers include J Sainsbury PLC (LON:SBRY) and Rentokil Initial PLC (LON:RTO) while bottom performers are Admiral Group PLC (LON:ADML) and Melrose Industries PLC (LON:MRON).
Meanwhile, DAX index in Germany rose by 0.7% and CAC 40 in France fell by 0.8%.
Company updates
J Sainsbury shares were 2.3% higher after reporting a 7.2% rise in annual profit but cautioned that earnings may remain unchanged in the coming year due to mounting costs and intensifying competition in the UK supermarket industry.
For the year ending March 1, 2025, the British grocer recorded a retail underlying operating profit of £1.036 billion, in line with analysts’ forecasts.
Shares of British food delivery company Deliveroo Holdings PLC (LON:ROO) also traded 2.5% higher after reporting a rise in its first-quarter revenue, driven by robust gross transaction value growth in its key markets.
The revenue for the three-month period ending March 31 rose to £518 million ($685.8 million), up from £514 million. Despite the increase, the company has decided to maintain its full-year guidance.
UK-based chipmaker Alphawave IP Group (LON:AWE) shares dipped by 1.8% after the company did not provide financial guidance for 2025 and beyond due to global economic uncertainty and evolving tariff regimes.
Alphawave reported bookings of US$515.5 million, up 34% year-on-year, with revenue of US$307.6 million and adjusted EBITDA of US$51.1 million, both in line with guidance.
Shares of Rentokil, the British pest control company, surged 3.9% after reporting a 1.8% increase in organic revenue in the first quarter of the year.
The company’s international pest control business showed robust performance, which helped to balance the slower business growth in North America, which the company is currently looking to restructure.
Despite the uncertainties in the macroeconomic landscape, Rentokil stated it remains optimistic about its longer-term prospects.
Wood Group shares rise as Sidara gets more time for bid
UK-based John Wood Group PLC (LON:WG) said Thursday it has extended the deadline for a takeover offer from Dubai-based Sidara to May 15, marking the second such extension.
The original deadline was April 17.
Shares rose 4.1% in morning trade following the update.