UK stocks edged higher on Thursday morning, anticipating the Bank of England’s monetary policy meeting where officials are broadly expected to maintain interest rates at a 16-year high of 5.25 percent.
The FTSE 100, a benchmark of London’s largest companies, rose by 0.2 percent, while the mid-cap FTSE 250 saw a modest increase of 0.1 percent during early trading hours. The sectors leading the gains included real estate and basic materials.
Across Europe, the market sentiment was also positive. The pan-European Stoxx 600 index climbed 0.4 percent, Germany’s Dax rose by 0.6 percent, and France’s Cac 40 added 0.5 percent.
YouGov Shares Plummet After Profit Warning
Shares in YouGov, the research and data analytics firm, tumbled more than a third following a profit warning attributed to lower-than-expected sales.
On Thursday, YouGov announced that despite some revenue improvement since January, overall growth had lagged behind projections. Consequently, the company revised its expected adjusted operating profit for the 2024 financial year to between £41 million and £44 million, down from £48.3 million in the same period last year.
The company cited sluggish sales in its data products division and “challenges” in Europe, the Middle East, and Africa, with particular difficulties in Germany, Austria, and Switzerland.
As a result, YouGov’s shares plummeted 36 percent in early trading.
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