FTSE 100 Steadies Despite WEIR and LSEG Declines

The FTSE 100 held broadly steady on Wednesday, rising 0.2% despite sharp moves in individual stocks and a steep sell-off in the mid-cap index.

Elsewhere in Europe, markets were firmer, with the DAX up 0.8% and the CAC 40 gaining 0.5%.

Intertek topped the FTSE 100 leaderboard, rising 3.6%. Miners Metlen Energy and Metals and Antofagasta also advanced, each adding around 2.5%.

At the other end of the index, Weir Group slumped 8.5%, the session’s biggest faller, while London Stock Exchange Group dropped 2% and Melrose Industries declined 2%.

Galliford Try led the FTSE 250 gainers, climbing 5.1%, but the index was dragged down by a heavy fall in Vistry Group.

The homebuilder’s shares sank 18% after it confirmed the upcoming retirement of Executive Chair and CEO Greg Fitzgerald and highlighted ongoing challenges in the open market.

Elsewhere in the housebuilding sector, Barratt Redrow announced that David Thomas will retire after 11 years as CEO. He will be succeeded later this year by Dean Banks, who returns to the UK after leading infrastructure services provider Ventia in Australia and New Zealand.

Metro Bank initially jumped after reporting a return to profit for the year, driven by significant cost reductions and an increased focus on corporate lending, though the shares later trimmed gains.

Oil prices continued to rise as the Middle East conflict escalated, adding to concerns that higher energy costs could reignite inflation and potentially delay or reverse interest-rate cuts.