British stocks advanced on Thursday, with the FTSE 100 up 0.8 percent as the pound also firmed, holding above the 1.35 mark against the U.S. dollar. Sterling rose 0.4 percent to 1.3575. Elsewhere in Europe, Germany’s DAX added 0.3 percent while France’s CAC 40 gained 0.8 percent.
Investors focused on the European Central Bank, which kept interest rates unchanged as expected. Policymakers held the deposit rate at two percent, pausing the easing cycle that began in June when rates were cut from a record four percent. Inflation is now hovering just above the ECB’s two percent target, though concerns around slowing growth and political risks leave the door open for more action in the future.
In London trading, Trainline was the standout gainer. Shares jumped more than 12 percent after the ticketing platform raised its annual profit outlook, helped by stronger first-half sales. Net ticket sales climbed eight percent to £3.2 billion for the six months through August, while group revenue rose two percent to £235 million.
Energean Oil & Gas also traded higher after reporting stronger-than-expected first-half earnings and lower costs, though the company cut its 2025 production guidance due to setbacks in Israel and delays in new capacity. Net profit came in at $110 million, ahead of both consensus estimates and Jefferies’ forecast. Adjusted EBITDAX reached $505 million, beating expectations by 13 percent, with revenue totaling $804 million.
THG Holdings rose more than six percent after reaffirming its 2025 outlook and pointing to stronger trading momentum in the second half. The beauty and nutrition group posted first-half EBITDA of £24 million, down from £37.1 million a year ago, with weakness in beauty and higher whey prices weighing on results.
Londonmetric Property also gained after announcing £78.5 million in new property acquisitions, including five Premier Inn hotels bought from Whitbread. The deals are expected to add £4.6 million in annual rent, with returns projected to rise to 6.3 percent over five years.
Outside of earnings, Ryanair’s CEO said airspace incursions, such as Wednesday’s drone disruption in Poland, are likely to remain a recurring challenge for airlines in the coming years. He added that while the issue is not a direct safety risk, it is a significant source of operational disruption.
In other news, Merck & Co. said it will abandon plans for a £1 billion research hub in London and is shutting down its early-stage research operations in the U.K. The pharmaceutical giant cited a lack of sufficient government investment in life sciences and inadequate reimbursement for new drugs as key reasons. The decision means Merck will no longer move into a new London facility that was set to house 800 jobs, despite signing a long-term lease in 2022.