The FTSE 100 inched higher on Wednesday, outperforming other major European indices as energy stocks led the gains. Oil majors Shell and BP advanced 1.8% and 2.8%, respectively, supported by a renewed rise in crude prices.
Defence-related shares were also strong. Aerospace and security group BAE Systems added 1.9%, submarine contractor Babcock gained 2.6%, and engine manufacturer Rolls-Royce rose 1.3%.
In contrast, JD Sports dropped more than 3% after reiterating its guidance, having already cut its outlook last month amid persistent weakness in the trainers market. Diageo slipped about 0.8% following the appointment of Joanne Wilson, currently chief financial officer at WPP, as its next CFO from 2027.
Elsewhere, Airtel Money confirmed plans for a London listing that could become the city’s largest initial public offering since 2021.
On the macroeconomic front, the UK Composite PMI eased to 51.7 in September, slightly below market expectations of 52, but still indicating modest expansion in private-sector activity.
