Investing.com -- British stocks opened lower on Thursday, as the holiday-shortened week nears its end, with European Central Bank’s latest policy decision in focus.

The central bank is expected to cut interest rates again amid economic uncertainties over the tariffs imposed by U.S. President Donald Trump. The deposit rate is expected to be lowered to 2.25% from 2.5%.

As of 0710 GMT, the blue-chip index FTSE 100 fell by 0.5% and the midcap index FTSE Mid-Cap 250 was down by 0.1%. The British pound also fell by 0.08% against the dollar to 1.32.

Meanwhile DAX index in Germany rose by 0.3% and CAC 40 in France fell by 0.3%.

Company updates

J Sainsbury PLC (LON: SBRY ) reported a 7.2% rise in annual profit but cautioned that earnings may remain unchanged in the coming year due to mounting costs and intensifying competition in the UK supermarket industry.

For the year ending March 1, 2025, the British grocer recorded a retail underlying operating profit of £1.036 billion, in line with analysts’ forecasts.

UK-based chipmaker Alphawave IP Group (LON: IPO ) PLC (LON: AWE ) reported bookings of US$515.5 million, up 34% year-on-year, with revenue of US$307.6 million and adjusted EBITDA of US$51.1 million, both in line with guidance.

Due to global economic uncertainty and evolving tariff regimes, the company did not provide financial guidance for 2025 and beyond.

Rentokil Initial PLC (LON: RTO ), the British pest control company, reported a 1.8% increase in organic revenue in the first quarter of the year.

The company’s international pest control business showed robust performance, which helped to balance the slower business growth in North America, which the company is currently looking to restructure.

Despite the uncertainties in the macroeconomic landscape, Rentokil stated it remains optimistic about its longer-term prospects.

British food delivery company Deliveroo Holdings PLC (LON: ROO ) reported a rise in its first-quarter revenue, driven by robust gross transaction value growth in its key markets.

The revenue for the three-month period ending March 31 rose to £518 million ($685.8 million), up from £514 million. Despite the increase, the company has decided to maintain its full-year guidance.