STOCKS TO WATCH

Electricals retailer Currys posted a jump in full-year earnings on Thursday, despite headwinds in the UK. Currys said group revenues in the year ended 2 May had risen 6% to £9.2bn, or by 4% on a like-for-like basis, while adjusted pre-tax profits jumped 18% to £191m. Underlying sales in the UK and Ireland were 3% stronger - despite a "subdued" consumer backdrop – and 6% in the Nordics. The FTSE 250-listed firm also flagged a "solid" start to the current year, putting it on track to meet market expectations.

Safety equipment maker Halma said on Thursday that it had made two acquisitions for a total of £54m. Halma bought Netherlands-based itemedical for €23m (£20m) and Sweden's Naslund Medical for $45m (£34m) both on a cash and debt free basis.

Property development and investment firm Great Portland Estates said it had made a strong start to the leasing year, signing 21 new leases and renewals in the first quarter and securing £13.2m of annual rent. Great Portland stated the deals included 15 fully managed leases generating £9.9m at £245 per sq ft, two fitted leases adding £1.6m and two ready to fit leases contributing £800,000. GPE added that market lettings were an average of 3.7% ahead of March enterprise rental value and said a further £3.5m of rent was under offer.

NEWSPAPER ROUND-UP

The EU's car industry has called for the UK to be fully included in new "made in Europe" rules that threaten to shut out British manufacturers from their biggest export market. The European Automobile Manufacturers Association on Wednesday urged Brussels to give the UK, Turkey and Morocco "justified, targeted exemptions" to the rules, which will require cars and parts to be made within the EU to qualify for subsidies or public procurement. – Guardian

A billionaire hedge fund tycoon has warned that the UK is "no longer a serious contender" as a place to do business after losing a £200m tax battle. Michael Platt's BlueCrest Capital Management said Britain's status as a financial centre was under threat after the Supreme Court sided with HMRC in a long-running tax battle. The ruling leaves BlueCrest liable for £143m in income tax payments and more than £55m in National Insurance contributions. – Telegraph

Andy Burnham could unlock a £7bn investment boom by reopening the North Sea to new drilling, new analysis shows. Wood Mackenzie, an energy consultancy, said a "more supportive" political and regulatory regime under the presumptive next prime minister would attract billions in new investment and unlock hundreds of millions of barrels of oil. – Telegraph

A $3.7bn deal by Getty Images for Shutterstock has been called off after the UK competition regulator made its approval conditional on the sale of part of the business. The major image-licensing companies had initially agreed to merge in January 2025 to combine forces against the rise of generative AI. – The Times

One of Britain's biggest water companies has come under fire from a leading shareholder advisory group over its plan to hand its boss a £435,000 annual allowance to counter the industry regulator's powers to clamp down on bonuses. United Utilities is asking its stock market investors to approve a new executive pay policy at a binding vote at its annual general meeting on July 17 but Institutional Shareholder Services has told its clients to reject the proposals over concerns about the allowance, which would be paid to the chief executive, Louise Beardmore, in shares. – The Times

US CLOSE

Major indices posted mild losses on Wednesday as solid economic data and comments from the new head of the Federal Reserve added to uncertainty about the future path of interest rates.

At the close, the Dow Jones Industrial Average was down 0.03% at 52,305.24, while the S&P 500 shed 0.22% to 7,483.23 and the Nasdaq Composite saw out the session 0.66% lower at 26,040.03.

Reporting by Iain Gilbert at Sharecast.com