FTSE 100 Opens Lower; Shell, BT and Vodafone Update Market

The FTSE 100 slipped 0.3% at the open on Thursday, tracking a similarly soft session across Europe, with the DAX down 0.4%. The CAC 40 edged 0.4% higher.

BT led the blue-chip index, rising 2.9% after the group maintained its full-year guidance despite reporting lower third-quarter revenue and earnings. Adjusted revenue fell 4% to £5 billion in the three months to 31 December, with U.K. service revenue 2% lower at £3.8 billion. Adjusted earnings declined 1% to £2.1 billion.

London Stock Exchange Group and Standard Chartered also gained, up 2.7% and 2.5%, respectively.

At the other end of the index, Compass Group dropped 6.9% after its latest trading update. The company said it delivered “another quarter of consistent growth,” with organic revenue up 7.3% in the first quarter and strong performances across regions and sectors.

Business & Industry recorded double-digit organic growth in North America, supported by first-time outsourcing wins and expansion in the technology sector. The group reiterated its 2026 outlook, including expectations for around 10% underlying operating profit growth in constant currency.

Vodafone was another major decliner, down 5.7%. The company said it remained on course to deliver full-year profit and cash flow at the upper end of its guidance, supported by “good” service revenue momentum. Growth in Germany, its largest market, came in below expectations at 0.7%, while U.K. service revenue slipped 0.5%.

Hikma Pharmaceuticals was another index constituent that declined significantly, falling 5.3% after Brookfield Private Capital said Wednesday that it does not intend to make an offer for the firm.

Investors are now awaiting the Bank of England’s policy decision, with interest rates expected to remain at 3.75%.