Investing.com -- British stocks traded lower on Wednesday amid a broader weak start for European markets, with the major news in the region being the departure of Vodafone (NASDAQ:VOD) (LON:VOD) Group’s finance chief.
The blue-chip index FTSE 100 closed the session down 0.4%, while the British pound also fell 0.1% against the dollar to 1.3345.
DAX index in Germany fell 0.5%, while the CAC 40 in France fell 0.9%.
Vodafone CFO to step down
Vodafone said Wednesday that Chief Financial Officer Luka Mucic will step down by early next year, as the company begins looking for his successor.
Mucic is set to take over as CEO of Vonovia SE (ETR:VNAn), Germany’s largest publicly traded real estate firm.
Vodafone shares closed about 1.9% lower.
Rentokil CEO to retire
Shares of Rentokil Initial PLC (LON:RTO), the British pest control firm, fell about 3.3% on Wednesday after the company said that CEO Andy Ransom will retire by the 2026 annual general meeting.
The search for his successor is already underway, led by Chair Richard Solomons.
J D Wetherspoon reports sales growth
Pub chain J D Wetherspoon PLC (LON:JDW) has reported a 5.6% increase in comparable sales for the 13-week period ending in April.
The company attributes the rise in sales to the favorable weather conditions during this period.
Shares rose more than 6%.
Trainline shares fall despite strong results
Trainline PLC (LON:TRNT) shares fell 4%, despite a 12% increase in net ticket sales to £5.9 billion and a 12% rise in revenue to £442 million.
The company’s adjusted EBITDA rose 30% to £159 million, driven by effective cost controls, while operating profit jumped 54% to £86 million.
BAE reaffirms outlook
BAE Systems PLC (LON:BAES) reaffirmed its annual financial outlook, supported by rising defense budgets across its operating regions.
The group’s year-to-date performance remains consistent with the projections outlined in its February 2025 update. Additionally, BAE said it expects limited effects from recent U.S. tariffs on imports from the U.K.
Deutsche Bank (ETR:DBKGn) downgrades BT
BT Group PLC (LON:BT) saw its shares fall by more than 1.7% on Wednesday after a rating downgrade.
Deutsche Bank lowered its stance on the stock from “hold” to “sell,” pointing to concerns about the company’s underlying fundamentals.
U.K. construction sector shrinks for fourth month
The U.K. construction industry remained under pressure in April, shrinking for a fourth straight month, a fresh survey revealed on Wednesday.
Although the S&P Global Construction Purchasing Managers’ Index (PMI) edged up to 46.6 from 46.4 in March, it still indicated a decline in activity, weighed down by falling new orders and ongoing cost challenges.