London stocks little changed after GDP data as investors weigh corporate results
16/10/2025 11:59
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FTSE 100 down 0.06%, FTSE 250 down 0.2%
UK economy returns to growth, but only just
Whitbread slumps after profit drop
AstraZeneca falls after stock downgrade
Travis Perkins slips as margin pressure persists
Oct 16 (Reuters) - London stocks were subdued on Thursday after an in-line GDP, as investors remained cautious amid persistent inflation concerns and mixed corporate updates.
The blue-chip FTSE 100 .FTSE fell 0.06% by 1017 GMT, while the mid-cap focused FTSE 250 .FTMC declined 0.2%.
Britain's economy expanded by a marginal 0.1% from July in line with analyst estimates, offering a breather to finance minister Rachel Reeves for her November budget.
However, the annual pace of growth is unlikely to avert the upcoming tax hikes, which investors are already bracing themselves for.
The economy has been grappling with slowing growth while contending with the highest inflation level among the advanced economies. Bank of England policymakers, who held interest rates at 4% last month, are trying to steer their way between persistently high inflation and weak economic growth.
Investor attention is now turning to next week's inflation data, which will have a major influence over whether the BoE reduces interest rates in November or December, or waits until early 2026.
In the market, travel and leisure stocks .FTNMX405010 led sectoral declines, falling 1.4%, after Whitbread WTB.L reported a 7% drop in half-year profit, weighed down by weaker food and beverage sales. Shares of the UK's Premier Inn owner was FTSE 100's worst performer, sliding 9.6%.
Heavyweight AstraZeneca AZN.L fell 1% after Deutsche Bank downgraded the drugmaker to "sell" from "hold".
Conversely, Croda International CRDA.L rose 3.6% to the top of the FTSE 100, boosting the broader chemicals sub-index .FTNMX552010 by 1.5%. The chemical manufacturer reported higher sales and maintained the fiscal year profit outlook.
XPS Pensions Group XPS.L gained 3% after the pensions consulting firm reported better-than-expected revenue for the half year.
Travis Perkins TPK.L fell to the bottom of the FTSE 250, down 3.5%, as the British building materials supplier faced ongoing margin pressure and did not provide a full-year profit outlook.
(Reporting by Sanchayaita Roy and Avinash P in Bengaluru; Editing by Vijay Kishore)
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