London is proving more resilient than most of its European peers on Wednesday…
The FTSE 100 is flat and the FTSE 250 has edged up 0.1%, while the continent struggles, with the DAX falling 1%, the Stoxx 50 losing 0.2%, and the CAC 40 fractionally positive at +0.1%.
Segro Boosts Housing Sector
Segro (+14.85%) is the standout mover of the session after the industrial property giant revealed it has rejected a takeover proposal from Prologis, with the board concluding the offer significantly undervalued the business.
The disclosure has boosted the broader real estate sector, with Tritax Big Box REIT (+5.47%), British Land (+3.69%), Land Securities (+3.20%), LondonMetric Property (+2.6%), and Persimmon (+1.7%) all pushing higher.
Berkeley Group adds further momentum after delivering its latest results, with the housebuilder’s update reassuring investors on margins and the development pipeline.
Tech Hangover Weighs on Sentiment
Tuesday’s session on Wall Street was ugly, as the Nasdaq fell over 2% as the technology selloff intensified.
European markets are still digesting the implications this morning, keeping a lid on broader risk appetite even where domestic data supports a more constructive tone.
Other Movers
LSEG (-3.63%) is the sharpest blue-chip decliner so far on Wednesday, followed by Airtel Africa (-3.51%) and Entain (-2.27%).
In the FTSE 250, WPP (-5.78%) leads losses amid ongoing concerns about the advertising sector’s outlook, with Trainline (-4%) also under pressure.
On the upside, IP Group (+7%) and Telecom Plus (+5.9%) are the mid-cap index’s brightest movers.
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