FTSE 100 Down Marginally; Endeavour Mining Rises On Strong Earnings

(RTTNews) - The U.K. market is down marginally Thursday afternoon with investors digesting the latest batch of economic data and earnings updates, and continuing to monitor the developments on the trade front.

The mood is cautious and volumes are somewhat light as most of the markets across Europe, including Germany, France and Switzerland, are closed for May Day.

The benchmark FTSE 100 was down 14.64 points or 0.17% at 8,480.21 a little while ago.

Endeavour Mining Plc, shares are gaining nearly 4.5%. For the three-month period to March 31, the company posted a net income of $173 million, or $0.71 per share, compared with a loss of $20 million, or $0.08 per share, registered for the same period last year.

Whitbread is climbing more than 4%. The group said that its adjusted profit before tax for fiscal year ended February 2025 declined to 483 million pounds from last year's 561 million pounds reflecting the impact of AGP, cost inflation and lower interest income, partially offset by increased cost savings and excellent progress in Germany. Adjusted earnings per share declined to 193.4 pence from 205.5 pence per share in the previous year.

Entain, Polar Capital Technology Trust, Informa, Anglo American Plc, St. James's Place, Haleon, Scottish Mortgage, Schroders, IAG, Pershing Square Holdings, Prudential, Intercontinental Hotels, EasyJet, Alliance Witan and Howden Joinery are gaining 2 to 3.4%.

Lloyds Banking Group shares are down 2.7%. The bank reported first quarter profit before tax of 1.5 billion pounds compared to 1.6 billion pounds, last year. Basic earnings per share was 1.7 pence, flat with prior year. Underlying profit declined to 1.53 billion pounds from 1.76 billion pounds.

AstraZeneca, BP, Marks & Spencer, Games Workshop, Centrica, Shell, Associated British Foods and Bunzl are down 1 to 2.2%.

In economic news, UK manufacturing activity deteriorated for the seventh successive month in April amid adverse global market conditions along with inflationary pressures, final survey results from S&P Global showed.

The final manufacturing Purchasing Managers' Index rose slightly to 45.4 in April from a 17-month low of 44.9 in March. However, any reading below 50 indicates contraction in the sector. The reading was also above the flash score of 44.

On the price front, input price inflation accelerated to the highest since December 2022, linked to higher energy prices caused by global supply chain uncertainties, including prospective US tariffs. Consequently, selling price inflation rose to a 26-month high.

Meanwhile, data showed UK mortgage approvals decreased by 800 to 64,309 in March, the lowest level in eight months, despite home buyers rushing to complete the transactions ahead of the rise in stamp duty.