The FTSE 100 was little changed early on Wednesday as investors assessed a mix of corporate updates and gains made across wider European markets.
The DAX rose 0.4% while the CAC 40 gained 0.3%, offering a supportive backdrop for regional equities.
HSBC was in focus after appointing Brendan Nelson as its new group chair. Nelson, a former KPMG partner, had been serving in the role on an interim basis since 1 October and first joined the bank’s board in September 2023.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
In corporate news, Smiths Group agreed to sell its airport security screening division to private equity firm CVC in a transaction valued at £2 billion. The move marks a significant portfolio shift for the engineering group as it continues to streamline operations.
Bloomsbury Publishing also announced a new strategic collaboration with Google Cloud, aimed at enhancing the company’s technology capabilities.
Sainsbury’s was among the weakest performers on the FTSE 100, currently down 4.2% after Qatar’s sovereign wealth fund disposed of another portion of its stake in the supermarket chain.
Among the standout risers were miners Antofagasta, up 2.6%, and Fresnillo, which gained 1.9%. Housebuilder Berkeley Group also climbed 1.9%, although it is down around 7% this year.
Other notable fallers included St James’s Place, down 2%, and Intermediate Capital Group, which slipped 1.7%.
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