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Investing.com -- British stocks gained on Thursday after the Bank of England kept interest rates unchanged at 4%, maintaining its cautious approach to monetary policy, while the pound held steady.
The blue-chip FTSE 100 rose 0.2%, while the British pound GBP/USD was down 0.5% at 1.3550 against the dollar.
DAX index in Germany rose 1.3%, the CAC 40 in France gained 0.9%.
BoE holds interest rate
Seven members of the nine-person Monetary Policy Committee voted to hold rates steady, while two pushed for another cut to support the economy after UK growth flatlined in July.
The decision follows August’s reduction from 4.25%, which marked the fifth cut in 12 months.
Corporate roundup: Pets at Home tumbles, Next weakens, Renishaw sets record, Deliveroo CEO to exit
In corporate news, Pets at Home Group PLC (LON:PETSP) shares plunged 15.5% after CEO Lyssa McGowan’s immediate departure and a profit warning.
The pet supplies retailer lowered its fiscal year 2026 profit guidance to £90-100 million, citing retail segment underperformance. Non-executive chair Ian Burke has stepped in as executive chair while a search for a permanent CEO is conducted.
Next PLC (LON:NXT) fell 3.5% despite reporting first-half results above expectations.
The Leicester-based retailer posted net sales of £3.2 billion, exceeding the analyst consensus of £3.1 billion. Full-price sales rose 10.9% year-on-year, with retail sales up 5.4% and online sales growing 9.2% in the UK and 28.1% internationally.
Renishaw PLC (LON:RSW) reported record revenue of £713 million for fiscal 2025, up 3.1%, with adjusted profit before tax increasing 3.8% to £127.2 million despite weak demand in some product areas.
C&C Group (LON:GCC) shares dropped 4.6% after reporting first-half revenues 4% below last year. The alcoholic beverage company expects underlying operating profit for the six months ended August 31 to range between €41.5-€42.0 million.
Inspecs Group PLC (LON:SPECI) stock declined 8.6% after reporting lower revenue and reduced profit margins.
The eyewear designer posted revenue of £97.6 million for the first half, down from £100.6 million a year earlier, while gross profit margin contracted by 80 basis points to 51.8%.
M&C Saatchi (LON:SAA) shares fell more than 12% after reporting a 5.1% decline in like-for-like net revenue to £103.8 million for the first half of 2025, with like-for-like operating profit dropping 36% to £10.3 million.
Deliveroo Holdings PLC (LON:ROO) announced that founder and CEO Will Shu will step down once the company’s acquisition by DoorDash, Inc. is completed, expected on October 2.
Separately, Octopus Energy Group said it will spin off its AI-powered technology company Kraken into a standalone entity. Kraken, which serves over 70 million accounts worldwide, has reached $500 million in committed annual revenue through licensing deals with major energy companies.