British stocks rose in Wednesday afternoon trading, with the pound strengthening against the dollar, as earnings from U.K. companies including Persimmon and Evoke took center stage.
As of 1305 GMT, the blue-chip index FTSE 100 rose 0.1% and the British pound gained 0.5% against the dollar to over 1.35.
DAX index in Germany gained 0.5%, the CAC 40 in France rose 0.3%.
Persimmon tops margin estimates
U.K. homebuilder Persimmon (LON:PSN) reported a first-half 2025 underlying operating margin of 13.1%, exceeding Jefferies’ estimate of 12.3%.
The company delivered 4,605 homes, in line with its guidance for a second-half weighted year, while maintaining £123 million in cash. Its return on capital employed reached 11.2%, which Jefferies described as sector-leading.
Persimmon maintained its full-year 2025 guidance for completions between 11,000 and 11,500 homes, compared to Jefferies’ forecast of 11,553. The company also projected an underlying operating margin of 14.2% to 14.5% for the full year.
Evoke reaffirms FY25 outlook
In other corporate news, Evoke (LON:EVOK) reaffirmed its fiscal 2025 revenue growth forecast of 5% to 9% and projected EBITDA margins of at least 20%.
At the lower end of guidance, this equates to approximately £368 million, about 3% above market expectations of £356 million. The company’s last-12-month EBITDA stood at £363 million.
Evoke’s second-quarter revenue increased by 5%, driven by a 6% rise in online sales, or 7% at constant currency, along with a return to growth in retail.
Beazley shares drop as insurer cuts FY premium growth forecast
Meanwhile, shares of Beazley PLC (LON:BEZG) fell more than 8% after the U.K. insurer reduced its full-year premium growth forecast, citing softer demand in its cyber and property risk insurance segments.
The company now expects gross written premiums to rise in the low-to-mid single digits, down from its previous guidance for mid-single-digit growth.
Beazley’s profit before tax for the first half of the year declined to $502.5 million from $728.9 million in the same period a year earlier.
Source :
https://www.investing.com/news/stock-market-news/ftse-100-today-index-rises-as-pound-strengthens-persimmon-evoke-report-earnings-4187317
