FTSE 100 Flat as Burberry, Imperial Brands Shares Slide

The FTSE 100 is flat so far on Wednesday morning after closing slightly higher on Tuesday, while the FTSE 250 has risen 0.2%. Germany’s DAX has gained 0.2%, and France’s CAC 40 has slipped 0.5% so far in the session.

Among the top risers on the FTSE 100 were Antofagasta, up 3.4%, followed by ConvaTec at 2.2%, and Barratt Redrow at 2.1%.

Barratt Redrow released a third-quarter trading update, with Chief Executive David Thomas saying: “Barratt Redrow had a solid third quarter, with a resilient reservation rate underpinned by good customer demand. Despite heightened macroeconomic uncertainty, we expect the Middle East conflict to have limited impact on FY26 performance.”

The company reiterated guidance for FY26 total home completions of 17,200 to 17,800, including around 600 joint-venture homes. It also said it remains on track to deliver adjusted profit before tax in line with consensus expectations of £568 million, citing analyst forecasts compiled by the company as of April 14.

The top FTSE 100 fallers included Imperial Brands, down 3%; Burberry, down 2.3%; and Airtel Africa, down 2.2%. Imperial Brands extended losses from Tuesday after reiterating full-year guidance and forecasting low-single-digit growth in first-half tobacco and next-generation product revenue.

In corporate news, Standard Life announced a £2 billion agreement to acquire Aegon UK. The transaction will be funded through debt, cash and the issuance of new shares, bringing Aegon in as a strategic shareholder and asset-management partner.