The FTSE 100 traded flat to slightly lower on Wednesday, with modest declines in heavyweight oil and banking stocks weighing on the index. Energy majors Shell and BP slipped as much as 1.1%, while leading lenders HSBC, Lloyds, and Barclays fell between 0.3% and 0.8%. Aerospace names were also weaker, with Rolls-Royce down 0.7% and BAE Systems off 1.9%.
In contrast, commercial property group Segro rallied more than 15% after its board firmly rejected an all-share takeover approach from US rival Prologis. Housebuilder Berkeley gained over 5% after reporting full-year operating profits ahead of expectations, although it cautioned that developers continue to face significant challenges in meeting the government’s housing targets.
Elsewhere, discount retailer B&M edged 0.5% higher after naming former Asda executive Atheeq Akbar as its new chief financial officer.
