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Investing.com -- British stocks gained on Monday, kicking off the week in positive territory ahead of a busy economic calendar, with employment data due Tuesday and inflation figures on Wednesday that could shape expectations for the Bank of England’s interest rate decision next month.
The blue-chip index FTSE 100 rose 0.26%.
DAX index in Germany was down 0.41%, the CAC 40 in France gained a meagre 0.06%.
UK round up
Shares in Barratt Redrow PLC (LON:BTRW) fell over 2% on Monday after Deutsche Bank downgraded its profit forecasts and slashed its price target by 15%, citing deteriorating trading conditions and mounting fire-safety remediation costs.
Analyst Chris Millington cut the target price to 454p from 536p, while maintaining a "buy" rating on the stock, which closed at 388.90p. The brokerage reduced its underlying pre-tax profit estimates by 9% for fiscal year 2026, 6% for FY27, and 7% for FY28.
In other market news, SkinBioTherapeutics PLC (LON:SBTX) shares plunged over 37% after the company launched an investigation into former CEO Stuart Ashman following allegations of material financial misrepresentation that will force a 17% reduction in its reported 2025 revenue.
The British skin-health group will reverse £770,000 in royalty income, a move expected to significantly widen operating losses and leave fiscal 2026 results well below market expectations. The company said new information received late on Feb. 13 cast "significant doubt" on the validity of the royalty income.
Optima Health PLC (LON:OPT) stock fell 4.8% after announcing it has entered into an agreement to acquire PAM Healthcare Limited for approximately £100 million. The acquisition will be financed through £70 million in new debt facilities with HSBC and Barclays, plus a £30 million bridge facility from Deacon Street Partners Limited, an entity controlled by substantial shareholder Lord Ashcroft.
Meanwhile, Schroders PLC (LON:SDR) was downgraded to "sector perform" by RBC Capital Markets, which concluded that limited upside remains for the asset manager’s shares following Nuveen’s offer for the company. The brokerage raised its price target to 610p to reflect the cash consideration outlined in the 612p-per-share bid proposal.
On the economic front, British house asking prices were virtually unchanged in February after a record January jump, according to property website Rightmove. The average asking price for newly listed homes fell £12 to £368,019, following a 2.8% surge in January. Despite the February stall, prices remain 2.8% higher than December levels, marking the strongest start to a year since 2020.
In political developments, the UK government is weighing whether to accelerate its timeline for lifting defense spending to 3% of national economic output, according to BBC. In February of last year, Britain committed to boosting annual defense expenditure to 2.5% of GDP by 2027, with an ambition to reach 3% after the 2029 general election.