Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- U.K. equities traded higher on Friday, buoyed by optimism over improving U.S.-China trade relations.
On the corporate front, JD Sports saw a sharp rise in its shares following encouraging developments from its major partner, Nike (NYSE:NKE).
As of 0730 GMT, the blue-chip index FTSE 100 gained 0.6% and the British pound rose 0.1% against the dollar to above 1.37.
DAX index in Germany rose nearly 1%, the CAC 40 in France gained 1.3%.
China confirms trade agreement details with U.S.
China’s Ministry of Commerce confirmed Friday that the U.S. and China have finalized details of their trade agreement reached earlier this month in London.
This confirmation follows U.S. President Donald Trump’s announcement Thursday at a White House event that both countries had signed a trade deal, though Trump did not provide specific details about the agreement at that time.
The agreement will implement the previously established Geneva consensus, according to a statement from the ministry.
Under the terms, China will review and approve applications for items subject to export control regulations. The U.S., in exchange, will cancel various existing restrictive measures it had imposed against China.
Nike’s positive forecast spurs rally in European sportswear brands
JD Sports Fashion PLC (LON:JD) and other European sportswear brands, including Puma (OTC:PMMAF) and Adidas (ETR:ADSGN), gained on Friday after Nike reported stronger-than-expected fiscal fourth-quarter results, posting earnings per share of $0.14 on revenue of $11.10 billion, surpassing analyst forecasts.
Shares across the sector, including Nike’s, rose after the company’s CEO said the business is expected to improve, boosting investor confidence.
Looking ahead, Nike expects the impact of its turnaround plan to ease in the coming quarters, signaling a more positive outlook.
Babcock shares fall after Deutsche Bank (ETR:DBKGn) downgrade
Babcock International (LON:BAB) was downgraded by Deutsche Bank to “hold” from “buy” after its full-year 2025 results, sending its shares down over 2% on Friday despite strong performance and upgraded earnings guidance.
Deutsche Bank raised its EPS estimates for FY26 and FY27 but cited valuation as a reason for the downgrade. The bank’s new target price of 1115p is below Babcock’s last close of 1157p.
Křetínský confirmed as new Royal Mail chairman
Czech billionaire Daniel Křetínský is set to become the chairman of Royal Mail , the U.K.-based postal and parcel delivery company, according to a statement released Friday by his investment firm, EP Group.
Earlier this month, EP Group completed its £3.57 billion acquisition of Royal Mail parent IDS, with a “golden share” issued to the U.K. government to ensure the group remains headquartered and taxed in the U.K.
Heathrow lifts 2025 outlook
Heathrow airport has raised its 2025 revenue forecast due to stronger-than-expected long-haul flight activity.
The airport reported robust traffic in the early part of this year, particularly from leisure travelers, and claimed to be Europe’s most punctual airport.
Heathrow continues to project a 0.5% yearly traffic increase for 2025.
Unilever (LON:ULVR) to buy Dr. Squatch for $1.5 bln - report
Unilever is purchasing Dr Squatch from private equity firm Summit Partners for $1.5 billion, according to a Financial Times report Friday.
Centrica (OTC:CPYYY) (LON:CNA) reportedly eyes 15% stake in Sizewell C nuclear project
Centrica plans to acquire a 15% stake in the Sizewell C nuclear project, the Financial Times reported Friday, citing sources familiar with the discussions.
U.K. car production falls
Meanwhile, Britain’s vehicle manufacturing sector recorded its fifth consecutive month of year-over-year production decline in May, according to industry data released Friday.
(This story will be updated)