Investing.com -- British stocks gained at Thursday’s open, while the pound slipped below $1.37 after holding above that level for the past two days.

As of 0732 GMT, the blue-chip index FTSE 100 gained 0.5% and the British pound rose 0.3% against the dollar to 1.36.

DAX index in Germany and the CAC 40 in France rose about 0.3%.

Currys reports profit above expectations

Currys PLC (LON: CURY ) reported annual results that beat analyst expectations, posting an adjusted pre-tax profit of £162 million for the year ended May 3, above the consensus estimate of £159 million.

The strong performance was driven by solid sales growth and tight cost control, which helped offset inflation and higher wages. Group revenue rose 3% to £8.71 billion, while free cash flow surged 82% to £149 million.

The company also proposed a final dividend of 1.5p per share and outlined goals for margin growth and lower capital and cash costs in the coming years.

Chesnara (LON: CSN ) to acquire HSBC’s UK life insurance arm

In other business news, Chesnara announced it has agreed to acquire HSBC (LON: HSBA ) Bank’s U.K. life insurance business for £260 million ($354.85 million).

The HSBC Life (UK) acquisition is expected to generate over £800 million in additional lifetime cash flow, with annual cash generation exceeding £140 million during the first five years.

Chesnara plans to finance the purchase through a combination of existing cash, its revolving credit facility, and an equity raise via a rights issue.

Baltic Classifieds posts 40% profit jump

Meanwhile, Baltic Classifieds Group Plc reported a 40% increase in operating profit to €53.5 million for the year ended April 30. The company saw growth across its core classifieds segments, which helped offset a significant downturn in Estonia’s auto market.

The company’s revenue rose 15% to €82.8 million from €72.1 million in 2024, while EBITDA climbed 17% to €64.4 million, achieving a margin of 78%, up from 77% previously.

Adjusted net income increased 21% to €54.4 million, with profit for the year reaching €44.8 million.

Ryanair (LON: 0RYA ) cancels flights amid French ATC strike

In the airline sector, Ryanair (0RYA) announced it had to cancel 170 flights due to a nationwide air traffic controller strike in France scheduled for Thursday and Friday, affecting more than 30,000 passengers.

(This story will be updated)