Investing.com -- British stocks opened higher on Friday, heading toward the close of a busy corporate earnings week, with major U.K. firms like Shell (LON: SHEL ), NatWest, and Standard Chartered posting updates.

As of 0710 GMT, the blue-chip index FTSE 100 gained 0.8% and the British pound rose 0.3% against the dollar to 1.33.

After the May 1 Labour Day holiday, DAX index in Germany rose 1.3% at open while the CAC 40 in France also gained 1.3%.

Shell Q1 earnings surge, announces $3.5 bln buyback

Shell PLC (AS: SHEL ) reported a surge in first-quarter adjusted earnings, reaching $5.6 billion, an increase of over 50% compared to the previous quarter.

Shell also announced a new $3.5 billion share buyback program, marking the 14th consecutive quarter of repurchases of at least $3 billion.

Standard Chartered Q1 profit rises 10% on strong banking performance

Standard Chartered PLC (LON: STAN ) posted a 10% increase in pretax profit for the first quarter, supported by robust results in its wealth management and investment banking divisions, even as it faced increased credit impairments and uncertainty around trade tariffs.

The company lender reported pretax earnings of $2.10 billion for the quarter ending March 31, up from $1.91 billion in the same period last year.

Pearson confirms 2025 guidance

Pearson PLC (LON: PSON ) confirmed it is on course to meet its annual targets, posting slight sales growth in Q1 and anticipating stronger performance in the second half of the year.

The company anticipates that both its full-year sales growth and adjusted operating profit for 2025 will align with market expectations.

NatWest returns to profit in Q1 on higher income, lower costs

NatWest Group PLC (LON: NWG ) reported a return to profitability in the first quarter of 2025, achieving earnings of £59 million.

This performance was driven by growth in income across all key business segments and a reduction in costs, according to the company.

The bank’s total income for the three months ending March 31 increased to £394 million, up from £303 million in the previous quarter.

RBC Downgrades Watches of Switzerland

RBC Capital has downgraded Watches Of Switzerland Group PLC (LON: WOSG ) to Sector Perform from Outperform, citing concerns over softening demand for Swiss watches in FY26 and potential risks tied to U.S. tariffs.

The broker also flagged challenges in meeting the company’s longer-range FY28 targets and cut its revenue and EBIT estimates by 6% and 12%, respectively.

RBC’s revised price target stands at 375p, around 13% below consensus.

Key economic announcements , including Eurozone unemployment and core CPI data, are due later today.

(This story will be updated)