FTSE 100 Holds Near Flatline as UK Market Digests Fed Cut and Local Corporate Moves

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%.