British stocks opened lower on Thursday as investors digested corporate updates, including BT Group and EasyJet, while Rio Tinto (NYSE: RIO ) announced that its CEO will step down later this year.

As of 07:20 GMT, the blue-chip FTSE 100 index fell 0.4%, while the British pound slipped 0.04% against the dollar to 1.34.

Meanwhile, DAX index in Germany and the CAC 40 in France fell 0.5%.

Rio Tinto CEO to step down

Rio Tinto PLC (LON: RIO ) said that Chief Executive Jakob Stausholm will be leaving his position later this year.

A formal search for his successor is underway, with the Nominations Committee leading the selection process.

BT Group lifts dividend as profit, free cash flow rise

BT Group PLC (LON: BT ) posted a 25% rise in annual free cash flow to £1.6 billion, allowing it to raise its dividend despite weaker revenue and handset sales.

Profit before tax climbed 12% to £1.33 billion, helped by fewer finance costs and no goodwill impairments this year.

The final dividend was lifted to 5.76p per share, bringing the total annual payout to 8.16p.

easyJet H1 loss matches estimates

EasyJet PLC (LON: EZJ ) posted a headline pre-tax loss of £394 million for the six months to 31 March 2025, matching market forecasts.

After accounting for the timing of Easter, the airline saw a slight improvement from the previous year.

Overall capacity expanded by 12% annually, with a 6% rise in both seat numbers and average flight length, leading to better aircraft utilisation and crew efficiency.

Honeywell to buy Johnson Matthey’s catalyst unit

Honeywell International Inc (NASDAQ: HON ) has agreed to acquireJohnson Matthey PLC’s (LON: JMAT ) Catalyst Technologies unit for £1.8 billion ($2.42 billion), with the U.K. firm expecting around £1.6 billion in net proceeds.

Following the sale, Johnson Matthey plans to focus on its Clean Air business and platinum group metals.

Separately, the company reported a 9% drop in annual revenue to £11.67 billion for the year ended March 31.

U.K. April borrowing exceeds forecast

The U.K. government borrowed more than expected at the start of the 2025/26 fiscal year, with data released Thursday showing a higher-than-anticipated deficit in April.

According to the Office for National Statistics (ONS), public sector net borrowing reached £20.16 billion ($27 billion), surpassing the median forecast of £17.9 billion.

(This story will be updated)