Investing.com -- British shares were mostly flat at the open on Thursday after official data showed that the country’s gross domestic product shrank by 0.3% in April, partially offsetting the 0.7% expansion recorded in the first quarter.
.As of 0715 GMT, the blue-chip index FTSE 100 gained 0.01% and the British GBP/USD fell 0.07% against the dollar to above 1.35.
Meanwhile, DAX index in Germany dropped 0.8%, the CAC 40 in France dipped 0.5%.
U.K. economy contracts in April
The U.K. economy experienced a notable decline in April, weighed down by rising energy costs and increased taxes.
According to data from the Office for National Statistics, gross domestic product fell by 0.3% during the month, a steeper drop than the anticipated 0.1% and a partial reversal of the 0.7% growth recorded in the first quarter.
On a yearly basis, GDP rose 0.9%, easing from the previous month’s 1.1% gain.
Tesco reports Q1 sales growth
Tesco PLC (LON:TSCO) posted a 5.5% rise in group like-for-like sales for the first quarter of its 2025-26 fiscal year, driven by solid performance across its businesses in the U.K., Republic of Ireland, Booker, and Central Europe.
Total group sales, excluding fuel and VAT, reached £16.38 billion for the 13-week period ending May 24.
Halma exceeds profit expectations
U.K. engineering firm Halma PLC (LON:HLMA) posted stronger-than-expected results for the fiscal year ending March 31, with adjusted pretax profit up 16% to £459.4 million and revenue rising 11% to £2.25 billion.
These figures beat analyst forecasts, and the company’s EBIT margin improved to 21.6%.
Halma said fiscal 2026 has started well, projecting upper single-digit organic revenue growth and margins slightly above the midpoint of its 19%–23% target range.
Wood Group extends Sidara takeover deadline
John Wood Group PLC (LON:WG) has granted Sidara more time to decide on a potential takeover, extending the deadline to make a firm bid or withdraw from the process to June 30.
The extension allows Sidara to further develop its offer for the engineering consultancy.
Crest Nicholson posts steady H1 results
Crest Nicholson Holdings plc (LON:CRST) posted encouraging results for the first half, signaling that its updated strategic approach is yielding positive outcomes amid evolving conditions in the housing market.
The company completed 739 homes during the first half of 2025, including those from joint ventures, marking a 6% decline from the previous year. Private sales, including bulk transactions, dropped to 107 units, down 40% from 177 in the same period last year.
(This story will be updated)