Key Moments
- FTSE 100 slipped 0.02% at 0818 GMT, while GBP/USD declined 0.1% to above 1.33.
- RICS survey indicated all near-term UK housing market indicators turned negative in November.
- FirstGroup PLC and Workspace Group PLC each announced targeted portfolio moves in the UK.
Broad Market Overview
Investing.com — London equities traded essentially unchanged on Thursday, as investors weighed the Federal Reserve’s latest interest rate cut alongside a softer pound and uneven performance across major European indices.
At 0818 GMT, the FTSE 100 was marginally lower by 0.02%. The British pound also weakened, with GBP/USD down 0.1% against the dollar, trading above 1.33.
Elsewhere in Europe, the DAX index in Germany declined 0.2%, while France’s CAC 40 edged up 0.08%, highlighting a mixed reaction across the region to the Fed’s policy move.
| Index / Pair | Move | Detail / Level Context |
|---|---|---|
| FTSE 100 | -0.02% | As of 0818 GMT |
| GBP/USD | -0.1% | Trading above 1.33 |
| DAX (Germany) | -0.2% | European session |
| CAC 40 (France) | +0.08% | European session |
UK Housing Market Under Pressure
The latest Royal Institution of Chartered Surveyors (RICS) UK Residential Market Survey signaled growing strain in the housing sector in November.
According to the report, all near-term indicators turned negative during the month. At the national level, house prices came under modest downward pressure, pointing to a weakening backdrop.
Analysts reviewing the survey noted that estate agents showed little enthusiasm toward the government’s Budget measures, as reflected in their responses.
Corporate Developments in Focus
FirstGroup Expands Sightseeing Bus Footprint
FirstGroup PLC (LON:FGP) moved to broaden its presence in the sightseeing bus segment by acquiring the UK sightseeing operations of RATP Développement SA for approximately £17 million. The transaction is intended to support the growth of its First Bus business in London and Bath.
The operations being acquired currently trade under the Tootbus brand and consist of 63 buses – 42 in London and 21 in Bath. The deal also covers a freehold depot in Wandsworth in southwest London, a leased depot in Keynsham near Bath, and around 190 employees across the two locations.
| Acquirer | Target Operations | Purchase Price | Key Assets |
|---|---|---|---|
| FirstGroup PLC (LON:FGP) | UK sightseeing bus operations of RATP Développement SA (Tootbus) | Approximately £17 million |
63 buses (42 London, 21 Bath); Freehold depot in Wandsworth; Leased depot in Keynsham; ~190 employees |
Workspace Group Sells Non-core Properties
Workspace Group PLC (LON:WKP), described as London’s leading provider of flexible work space, announced it has exchanged contracts for the sale of two low-conviction assets for £11.8 million.
The company stated that the agreed sale price is in line with its September 2025 valuation and equates to a net initial yield of 5.7%.
| Company | Transaction | Value | Additional Detail |
|---|---|---|---|
| Workspace Group PLC (LON:WKP) | Disposal of two low-conviction assets | £11.8 million | Pricing matches September 2025 valuation; net initial yield of 5.7% |
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