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London’s stock markets delivered contrasting fortunes today as retailers, airlines, and insurers took centre stage. While electricals chain Currys impressed investors with strong trading and a £50 million share buyback plan, package holiday specialist Jet2 slumped on weaker earnings guidance.
Let’s take a look at the latest market updates in our FTSE 100 Live today.
Shares in Currys soared by £131.2, their highest level in four years, after the retailer posted a robust update covering the first 17 weeks of its financial year. UK and Ireland like-for-like sales rose 3%, driven by strong demand for gaming products, AI computing, large appliances, and coffee machines.
The company also highlighted recovery in its Nordics division, where underlying sales rose 2%, and confirmed that full-year trading remains on track. A new £50 million share buyback programme alongside its dividend will return a total of £75 million to shareholders this year.
Analysts welcomed the move as a sign of management confidence. Richard Hunter of Interactive Investor noted that Currys’ share price has already risen 37% over the past year and more than doubled in the last two years, outperforming the FTSE 250 index.
Jet2 shares fell 18% to £1329.6 after the airline and holiday operator warned that earnings for the year ending March 2026 will be at the lower end of market forecasts. The company blamed a shift toward last-minute bookings and a weaker consumer environment.
Despite reporting 2% growth in flown package customers and a 17% rise in flight-only passengers over the summer, Jet2 reduced winter seat capacity from 5.8 million to 5.6 million to maintain discipline. Current consensus forecasts for annual earnings stand between £449 million and £496 million.
Chief Executive Steve Heapy stressed that the company’s strengths, including its flexible model, loyal customer base, and award-winning service, remain intact, but acknowledged the short-term challenges.
The warning dragged down other travel-focused stocks, with easyJet sliding 4% to £467.8 and IAG, owner of British Airways, dipping to £385.7.
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Insurance market Lloyd’s of London reported a “solid” first-half performance despite heavy claims linked to California wildfires. Gross written premiums grew 6.2% to £32.5 billion, supported by an 11.9% rise in volumes.
While underwriting profit fell to £1.5 billion from £3.1 billion a year earlier, the market delivered investment returns of £3.2 billion, up from £2.1 billion. CEO Patrick Tiernan said disciplined underwriting and strong capital positions left Lloyd’s well placed for growth.
The FTSE 100 price index is flat at 9180.62, up 0.029%, while the FTSE 250 rose 61 points to 21,374.23. Luxury goods group Burberry secured a return to the FTSE 100 after a year-long absence, while housebuilder Taylor Wimpey and Unite Students were relegated in the latest reshuffle.
